46407 Homes with Apartment Subtype

46407 Homes with Apartment Subtype

Welcome to the vibrant community of Gary, Indiana, nestled in the heart of Lake County and proudly bearing the zip code 46407. Known for its rich history and diverse culture, Gary offers a unique blend of urban living and suburban charm, making it an ideal place for families, young professionals, and retirees alike.

The real estate market in Gary, particularly in the 46407 area, features a variety of homes that cater to different lifestyles and needs. Among these, homes with an apartment subtype are a standout option. These properties not only provide ample living space but also the flexibility of generating rental income. Imagine living in a beautifully designed home while having the opportunity to lease out an apartment for extra financial support. It's a win-win!

The homes in this area often boast spacious layouts, updated amenities, and access to local parks, schools, and shopping centers. Many properties feature inviting backyards and community-friendly environments, perfect for family gatherings or quiet evenings under the stars. With the city’s ongoing revitalization efforts, residents can enjoy a growing number of dining and entertainment options, alongside the rich cultural heritage that Gary is known for.

Living in Gary’s 46407 zip code means embracing a community that values connection and growth. Whether you’re looking for a cozy family home or a property with rental potential, you’ll find that Gary offers a welcoming atmosphere and a promising future. Come explore the possibilities in this charming Indiana city!

Newest 46407 Homes with Apartment Subtype

$79,900
3 Beds ⋅ 1 Baths
MOTIVATED SELLER - Hey INVESTORS - Affordable 3-bedroom, 1-bath raised ranch. This home features a full basement and solid fundamentals, with major updates already completed--including a roof and windows recently --giving you peace of mind on the big-ticket items. Inside, you'll find a great layout with plenty of potential to make it your own over time. Whether you're tired of rising rent or ready to invest in your future, this home offers a smart, affordable path to ownership. Currently occupied by a reliable long-term tenant on a month-to-month lease at 1,000/month, this reflects a stable, below-market rent typical of long-term occupancy--providing an opportunity for future increases. At the current asking price, the property delivers an estimated 10.0 cap rate with 12,000 annual gross income and minimal vacancy risk. Property is located in a strong rental area, you may also want to explore local Section 8 Housing Choice Voucher Program payment standards, which could support higher rental income and improved returns, depending on qualification and tenant placement. Sold As-Is, this property offers both immediate cash flow and value-add potential through rent adjustments or light improvements. Whether you're building your portfolio or entering the market, this is a cash-flowing asset ready to perform from day one. Sold As-Is. Schedule your private showing today and take the first step toward owning your home!

815 W 25th Avenue, Gary
Start Your Search

Updated . Information deemed reliable but not guaranteed.