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$650,000 Just Listed
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Property Description
This offering presents a rare opportunity to acquire a portfolio of four well-maintained five-unit apartment buildings located in the South Hammond, Indiana submarket. The properties may be purchased individually or as a portfolio, providing flexibility for investors seeking either a single asset or the opportunity to quickly expand their multifamily holdings. Each building consists of one spacious three-bedroom, two-bath apartment and four oversized one-bedroom, one-bath apartments. The larger unit mix provides a unique appeal to a broad tenant base while offering above market rental income. Across the portfolio's 20 total units, 15 have been recently renovated with modern interior finishes, significantly reducing near-term capital expenditures. Situated just minutes from major highways, employment centers, shopping, and the Illinois state line, the portfolio benefits from South Hammond's convenient location and consistent rental demand. The area's affordability compared to neighboring Chicago communities continues to attract both residents and investors, making these properties an attractive long-term investment. Whether acquired individually or as a package, this portfolio offers investors the opportunity to purchase well-located multifamily assets with a combination of in-place cash flow, recent capital improvements, and additional upside through the renovation of the remaining units and continued rent optimization. Other addresses: 7027 Parrish Ave, 7105 Parrish Ave, 7100 Idaho Ave. All are in Hammond on the same block.
Full Property Details
Full Property Details for 7050 Idaho Ave
General
- Price: $650,000
- Taxes: $8,211 (2025)
- Status: Active
- Type: Commercial Multi-Family
- Source: GNIAR
- MLS ID: 842304
- Updated: 7/15/2026
- Added to Site: 2 day(s) ago
Location
- County: Lake
- Township: North
- Driving Directions: From I-80/I-94, take Exit 2 north on Cline Avenue. Continue for approximately 1.5 miles, then turn left onto 169th Street. Drive about 0.8 miles and turn right onto Idaho Avenue.
Heating & Cooling
- Heating Type: Baseboard, Other
Structural Information
- Square Feet: 5,220
- Year Built: 1978
Lot Features
- Lot Size (Acres): 0.1745
- Lot Size (Sq. Ft.): 7,601
Financial Considerations
- Tax Amount: $8,211
- Tax Year: 2025
- Terms: Cash, Other, Conventional
Disclosures and Reports
- Legal Description: PARRISH PARK LOT 5
- Property ID: 450710302008000023
Listed by Ellsbury Group
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Schools
Schools serving 7050 Idaho Ave
School District:Hammond School City
| Name | Grades | Distance |
|---|---|---|
Joseph Hess Elementary School 3640 Orchard Drive, Hammond, IN 46323 | PK-5 | 0.9 mi |
Charles N Scott Middle School 3635 173rd Street, Hammond, IN 46323 | 6-8 | 0.6 mi |
Morton Senior High School 6915 Grand Avenue, Hammond, IN 46323 | 9-12 | 0.6 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 7050 Idaho Ave
Date
Details
Price
Change
Source
7/15/2026
Listed
$650,000
—
MLS
Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.
Tax History
Tax History for 7050 Idaho Ave
Year
Property Taxes
Change
Tax Assessment
Change
2024
$7,095
—
$324,500
-6%
2024
$7,095
-35%
$343,800
50%
2023
$10,974
73%
$229,600
-3%
2022
$6,343
-39%
$236,700
12%
2020
$10,459
51%
$210,700
4%
2019
$6,943
—
$202,500
-7%
2019
$6,943
2%
$217,400
-9%
2018
$6,787
-2%
$239,000
27%
2017
$6,957
—
$187,500
4%
2017
$6,957
19%
$180,900
—
2016
$5,838
12%
$181,300
-5%
2015
$5,230
-42%
$190,000
1%
2013
$8,978
-2%
$187,500
-3%
2012
$9,174
—
$193,300
—
Disclaimer: Historical tax information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.
Estimate the Cost
Estimate the Cost for 7050 Idaho Ave
7050 Idaho Avenue, Hammond, IN 46323 (MLS# 842304) is a Commercial Multi-Family property. 7050 Idaho Avenue is currently listed for $650,000 and was received on July 15, 2026. Want to learn more about 7050 Idaho Avenue? Do you have questions about finding other Commercial Multi-Family real estate for sale in Hammond? You can browse all Hammond real estate or contact a Coldwell Banker agent to request more information.

