2228 Washington Street Gary, IN $ 197,900
2228 Washington Street
$ 197,900
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2228 Washington Street

Gary, IN, 46407
$ 197,900
Bedrooms4 Baths2.0

Monthly Estimate*

$ 1,250

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Multi-Family Home for sale in Gary, IN

for $197,900 with 4 bedrooms and 2 full baths. This home was built in 1908 on a lot size of 0.139.

Be a part of Gary's Comeback with this Turnkey Cash-Flowing Brick Duplex in the Heart of Gary's Revitalization Don't miss this opportunity to own a fully occupied, income-producing from day one brick duplex in one of Gary's most exciting investment corridors. Whether you're looking to expand your portfolio or purchase your first multifamily property, this investment offers immediate rental income from day one. Both units are currently occupied, with one tenant on a month-to-month lease providing future flexibility, while the second unit is leased through February 2027, offering stable, predictable cash flow. This property has been professionally managed and maintained, and the current property management company is available to continue management for a smooth, turnkey transition if desired. Location is everything, and this property is ideally situated in the heart of Gary's ongoing revitalization. With continued public and private investment throughout the area, you're not just purchasing a duplex, you're investing in a community experiencing meaningful redevelopment and renewed momentum. Enjoy strong rental demand today while positioning yourself to benefit from the area's long-term potential. The total rent right now is 1760 (which we know in today's market is on the low side) so rent both units and cash flow from day one or live in one unit and let the other tenant help you pay your mortgage down. Solid brick construction, immediate income, professional management, and an exceptional location make this a rare opportunity for investors seeking both cash flow and future upside. Schedule your showing today and secure your place in Gary's next chapter before this opportunity is gone.

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Multi-Family Active

Price

$ 197,900

Bedrooms

4

Full Bath

2

Property Type

Multi-Family

Taxes

$ 1,126

Style

Duplex

Lot Size

0.139

Year Built

1908

Town/City

Gary

County/Region

Lake

MLS | Web ID

840398

Features
Interior
Interior Amenities Granite Counters High Ceilings
Fireplace Y/N N
Above Grade Finished Area 1672
Total Bedrooms 4
Total Baths 2
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General
Sewer Public Sewer
Heating Central
Appliances Range Hood
Patio/Porch Features Deck Porch
Security Features Carbon Monoxide Detector(s) Smoke Detector(s)
Pets Allowed Breed Restrictions
Year Built 1908
View Neighborhood
Township Calumet
Levels Two
Property Subtype Duplex
Tax Year 2024
County Lake
New Construction N
Property Type Residential Income
Subdivision Name C T L & L Co Add 06
Garage Y/N N
Rent Includes None
Full Baths 2
Status Active
Directions Broadway to 23rd ave to Washington St
City Gary
Lot Size Square Feet 6055
Listing Terms Cash Conventional
Tax Annual Amount 1126
Standard Status Active
Tax Assessed Value 44900
Legal Description C. T. L. & I. CO'S. 6TH ADD. S. 4 IN. L.7 BL.24 ALL L.8 BL.24
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Exterior
Parking Features On Street
Lot Features Back Yard Rectangular Lot Front Yard
Water Source Public
Lot Size Acres 0.139
Lot Size Source Assessor
Waterfront Y/N N
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* Excluded Features
List By
Rebecca Olson

Listing Agent

Listing Leaders Affiliated

Broker

olbec1978@gmail.com

Email

Affordability Calculator

$1,343
Per Month
93%
7%
0%
Monthly Principal & Interest
$1,250
Monthly Property Taxes
$94
Monthly Home Insurance
--
Default based on a 30-year fixed rate of 6.49% 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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Nearby
1261196 Elementary School
1261197 Middle School
Unknown High School High School
Pricing History
DatePricePrice ChangeDescription
7/19/2026$197,900 -1.00% Price Down
6/10/2026$199,900 Listed Price

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2228 Washington Street, Gary, IN, 46407 is a Multi-Family Home for sale at $197,900 with a lot size of 0.139. 2228 Washington Street has 4 bedrooms, 2.0 baths, and was built in 1908. The property's zip code is 46407 which is in Gary, IN