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$462,000
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Property Description
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.
Full Property Details
Full Property Details for 816 Pennsylvania St
General
- Sold For: $462,000
- Taxes: $2,634 (2024)
- Status: Closed
- Type: Commercial Multi-Family
- Source: GNIAR
- MLS ID: 836606
- Added to Site: 143 day(s) ago
Exterior
- Exterior Features: Other
Parking
- Parking Features: Driveway, On Street
Location
- County: Lake
- Township: Calumet
- Subdivision: Gary Land Companys 01
- Driving 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.
Heating & Cooling
- Heating Type: Forced Air
Structural Information
- Square Feet: 7,221
- Year Built: 1922
Lot Features
- Lot Size (Acres): 0.086
- Lot Size (Sq. Ft.): 3,746
Financial Considerations
- Tax Amount: $2,634
- Tax Year: 2024
- Terms: Cash, Conventional
Disclosures and Reports
- Legal Description: GARY LAND CO'S 1ST SUB. L.26 B.14
- Property ID: 450803357014000004
Listed by Property Boss
Sold by Non Member
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Schools
Schools serving 816 Pennsylvania St
School District:Gary Community School Corporation
| Name | Grades | Distance |
|---|---|---|
Daniel Hale Williams Elementary School 1320 East 19th Avenue, Gary, IN 46407 | K-5 | 1.1 mi |
Mary M Bethune Early Child Development Center 2367 East 21st Avenue, Gary, IN 46407 | PK- | 1.8 mi |
Gary Middle School 301 Parke Street, Gary, IN 46403 | 6-8 | 4.6 mi |
West Side Leadership Academy 9th & Gerry St, Gary, IN 46406 | 9-12 | 3.9 mi |
Disclaimer:
School attendance boundaries provided by ATTOM Data Solutions and are for reference only. Contact the school directly to verify enrollment eligibility.
Price & Sales History for 816 Pennsylvania St
Date
Details
Price
Change
Source
8/24/2026
Sold
$462,000
-7.41%
MLS
5/15/2026
Price Reduced
$499,000
-4.04%
MLS
4/06/2026
Listed
$520,000
—
MLS
Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.
816 Pennsylvania Street, Gary, IN 46402 (MLS# 836606) is a Commercial Multi-Family property that was sold at $462,000 on August 24, 2026. Want to learn more about 816 Pennsylvania Street? Do you have questions about finding other Commercial Multi-Family real estate for sale in Gary? You can browse all Gary real estate or contact a Coldwell Banker agent to request more information.

