816 Pennsylvania Street Gary, IN $ 520,000
816 Pennsylvania Street
$ 520,000
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816 Pennsylvania Street

Gary, IN, 46402
$ 520,000
Bedrooms-- Baths-- Sq 7,221

Monthly Estimate*

$ 3,202

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Commercial Property for sale in Gary, IN

for $520,000. This 7,221 square foot building was built in 1922 on a lot size of 0.086.

Turnkey investment opportunity in Gary, Indiana! This fully renovated 8-unit building is already 7 out of 8 units rented, offering immediate and reliable income with minimal lease-up needed. The property features a desirable mix of one-, two-, and three-bedroom units, appealing to a wide range of tenants. The photos provided showcase the property post-rehab, prior to the current tenants moving in--highlighting the quality of renovations and thoughtful updates throughout. Modern improvements blend seamlessly with original character details, including charming built-ins and classic woodwork. Ideally located with convenient access to IN-53, I-65, and I-80/94, this property is well-positioned for commuters and continued tenant demand. With strong occupancy and a growing rental market, this is a solid, income-producing addition to any portfolio. Schedule your showing today! Property sold AS IS.

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Commercial Active

Price

$ 520,000

Property Type

Commercial

Taxes

$ 2,634

Style

Multi Family

Lot Size

0.086

Year Built

1922

Town/City

Gary

County/Region

Lake

MLS | Web ID

836606

Features
General
Sewer Public Sewer
Heating Forced Air
Utilities Other
Year Built 1922
Electric Other
View Neighborhood
Township Calumet
Property Subtype Multi Family
Tax Year 2024
County Lake
Property Type Commercial Sale
Subdivision Name Gary Land Companys 01
Building Features Multi Tenant
Status Active
Directions North on Burr St. onto 80 heading East to Detroit. Use Exit 10 onto Broadway. Continue North on Broadway Then Right on Eighth Avenue and right on Pennsylvania St. Property is on your right side.
City Gary
Lot Size Square Feet 3746
Listing Terms Cash Conventional
Tax Annual Amount 2634
Standard Status Active
Legal Description GARY LAND CO'S 1ST SUB. L.26 B.14
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Exterior
Exterior Amenities Other
Parking Features Driveway On Street
Water Source Public
Total Parking 0
Lot Size Acres 0.086
Lot Size Source Assessor
Waterfront Y/N N
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* Excluded Features
List By
Kiyah Marshall

Listing Agent

Property Boss

Broker

kiyah@propertybossllc.com

Email

Affordability Calculator

$3,421
Per Month
94%
6%
0%
Monthly Principal & Interest
$3,202
Monthly Property Taxes
$220
Monthly Home Insurance
--
Default based on a 30-year fixed rate of 6.25% 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! What's my home worth?
Nearby
1261196 Elementary School
1261197 Middle School
Unknown High School High School
Pricing History
DatePricePrice ChangeDescription
4/6/2026$520,000 Listed Price

Map


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816 Pennsylvania Street, Gary, IN, 46402 is a Commercial Property for sale at $520,000 with 7,221 sqft and a lot size of 0.086. 816 Pennsylvania Street was built in 1922. The property's zip code is 46402 which is in Gary, IN