1412 Connecticut
- Stabilized Six-Unit Property – Well-maintained building with only one vacancy and stable in-place income.
- Section 8 Rent Upside – Opportunity to increase rents by aligning current leases with Section 8 Fair Market Rent levels as units turn.
- Unique Unit Mix – Includes a distinctive basement apartment that adds character and flexibility to the property.
- Well Maintained Asset – Retains original character with updated mechanical systems over time.
- On-Site Amenities – Features a digital laundry facility and a garage used for tenant parking and storage.
- Additional Land Included – Two adjacent lots are included in the sale, providing added value and potential flexibility.
Property Description
Kiser Group is pleased to present a six-unit multifamily investment opportunity located in Gary, Indiana. The property is a stabilized asset with only one vacancy and has been well maintained over time, with light renovations completed as units turn. The building features a unique unit mix, including a distinctive basement apartment, and retains much of its original character while benefiting from updated mechanical systems throughout the years. The property also includes an on-site digital laundry facility, a garage currently used for tenant parking and storage, and two adjacent lots that are included in the sale. The investment offers clear value-add potential through rent growth. Several tenants are currently paying below applicable Section 8 fair market rent levels, providing new ownership the opportunity to increase revenue by aligning rents with voucher benchmarks as natural tenant turnover occurs. This strategy allows investors to improve cash flow while maintaining strong occupancy in a market with consistent demand for affordable housing. With stable in-place income, additional land included in the offering, and the opportunity to increase rents through a proven voucher program, the property represents an attractive small-scale investment with both reliable income and meaningful upside.
Key Property Information
| Listing Status: | Unavailable |
|---|---|
| Listing Type: | Call for offers |
| Property Types: | Apartment Buildings |
| No. of Units: | 6 |
| Year Built: | 1929 |
| Lot Size: | 0.29 Acres |
| Opportunity Zone: | No |
| Property Website | Click Here |
Investment Analyzer
Sponsored by:
Step 1Financing Calculation
Step 2Gross Rent Analysis
Please enter annual amounts.
Step 3Cap Rate Calculation
Step 4Final Deal Analysis
Similar Properties in the Area
3428 Hennepin Avenue S
Minneapolis, Minnesota
Brokers
View All-
Remax Professionals
Re/Max Real Estate Professionals | New York
-
Jared Ennis
Central CA Commercial | California
-
Rick Recckio
Recckio Real Estate & Development
-
Eamonn McConnell
Avison Young - CA - ON - Greater Toronto
Lenders
View AllManagement
View All-
Essex Property Trust, Inc.
California
-
Josh A
California
-
Bob Tuteur
-
Andrew Schildcrout