7613 Oak Avenue Gary, IN $ 380,000
7613 Oak Avenue
$ 380,000
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7613 Oak Avenue

Gary, IN, 46403
$ 380,000
Bedrooms4 Baths3.0

Monthly Estimate*

$ 2,526

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Multi-Family Home for sale in Gary, IN

for $380,000 with 4 bedrooms and 3 full baths. This home was built in 1922 on a lot size of 0.075.

Rare Investment Opportunity: 3-Unit Property Across from Lake Michigan in Miller BeachDiscover a unique investment opportunity with this 3-unit property situated directly across the street from the pristine shores of Lake Michigan in the sought-after Miller Beach neighborhood. This versatile property offers the perfect blend of residential comfort and income-generating potential.Property Overview:Top Floor Penthouse Unit:Layout: 1 bedroomFeatures: Private deck with stunning lake viewsCurrent Rent: $1150 per month, leased until 9/30/24Second Floor Unit:Layout: 1 bedroom with a sunroom, enclosed porch Features: Private back deck with views of the lakeCurrent Use: $1150 per month, leased until 4/30/25Ground Level Unit:Layout: 2 bedroomsCurrent Use: $895, per month, leased until 7/31/24Amenities:Each unit offers its own designated outdoor space, providing tenants with personal areas to relax and enjoy the beautiful surroundings.A common laundry area is available for all tenants.The property provides 2 tandem parking spaces for each unitLocation Highlights:Proximity to Lake Michigan: Enjoy immediate access to the lake, perfect for beach activities, water sports. Just steps away! Miller Beach offers a vibrant community with diverse dining, shopping, and cultural experiences, including the nearby historic Marquette Park and the Tuskegee Air Museum.Convenience: Easy access to transportation options Via the South Shore Train, 80/94, I-65, and the Indiana Tollway.This property is ideal for investors looking to capitalize on the thriving vacation rental market while providing long-term rental options. Don't miss this chance to own a prime piece of real estate in one of Miller Beach's most desirable locations. Seize this rare opportunity to elevate your investment portfolio and enjoy the benefits of lakeside living. Miller Beach, Unparalleled in it offerings! Make it your today!

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Multi-Family Contingent

Price

$ 380,000

Bedrooms

4

Full Bath

3

Property Type

Multi-Family

Taxes

$ 7,339

Style

Triplex

Lot Size

0.075

Year Built

1922

Town/City

Gary

County/Region

Lake

MLS | Web ID

803924

Features
General
Interior Features Ceiling Fan(s) Open Floorplan High Speed Internet Laminate Counters Eat-in Kitchen
Sewer Public Sewer
Heating Common Steam Radiant Hot Water
Utilities Electricity Connected Sewer Connected Water Connected Natural Gas Connected
Appliances Dryer Refrigerator Washer Stainless Steel Appliance(s) Oven Microwave Gas Water Heater Gas Range Free-Standing Refrigerator Free-Standing Gas Range
Exterior Features Balcony Uncovered Courtyard Rain Gutters Lighting Garden
Patio/Porch Features Deck Patio
Pool Features None
Pets Allowed Yes
Year Built 1922
Electric 150 Amp Service Circuit Breakers
View Lake
Township Calumet
Levels Three Or More
Property SubType Triplex
Tax Year 2023
Gross Income 38340
Community Features Fishing Street Lights Playground Park
County Lake
Insurance Expense 1500
New Construction N
Property Type Residential Income
HOA / Comm Assn N
Subdivision Name Norcotts Add
Garage Y/N N
Rent Includes All Utilities Sewer Water Trash Collection Internet
Total Rooms 12
Status Active Under Contract
Directions From Route 12 or Route 20 and County Line road proceed North on County Line Road to Oak Ave. Turn left ( west ) on Oak Ave to address on left.
City Gary
High School District Gary
Zoning Description Residential
Lot Size Square Feet 3267
Waterfront Y/N N
Street Name Oak
Tax Annual Amount 7339
Electric Expense 1140
Property Condition Updated/Remodeled
Trash Expense 540
Lease Considered Y/N N
Standard Status Active Under Contract
Tax Assessed Value 242700
Total Actual Rent 38340
Legal Description NORCOTTS ADD. INDIANA CITY ALL L.21 BL.22 AND W. 1 FT. OF L.20 BL.22
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Exterior
Parking Features Common Tandem Unassigned Off Street On Site
Lot Features Back Yard Views Near Public Transit Level Few Trees
Water Source Public
Total Parking 6
Lot Dimensions 26 X 125
Lot Size Acres 0.075
Road Surface Type Asphalt Paved
Frontage Length 26
Lot Size Source Assessor
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Interior
Total Fireplaces 1
Fireplace Features Living Room
Fireplace Y/N Y
Above Grade Finished Area 3415
Full Baths 2
Half Baths 0
3/4 Baths 1
Street Suffix Avenue
Laundry Features Common Area Main Level Laundry Room Inside Gas Dryer Hookup
Total Bedrooms 4
Total Baths 3
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* Excluded Features
List By
Alan Harrell

Listing Agent

Mccolly Real Estate

Broker

alan.harrell@mccolly.com

Email

Affordability Calculator

$3,137
Per Month
81%
19%
0%
Monthly Principal & Interest
$2,526
Monthly Property Taxes
$612
Monthly Home Insurance
--
Default based on a 30-year fixed rate of 6.99% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.
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The time to sell is now
THE TIME TO SELL IS NOW!
Nearby
4001616 Elementary School
4001695 Middle School
Unknown High School High School
Pricing History
DatePricePrice ChangeDescription
5/18/2024$380,000 Listed Price

Map


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7613 Oak Avenue, Gary, IN, 46403 is a Multi-Family Home for sale at $380,000 with a lot size of 0.075. 7613 Oak Avenue has 4 bedrooms, 3.0 baths, and was built in 1922. The property's zip code is 46403 which is in Gary, IN