7701 Taft odd add. #s Street, Merrillville, IN 46410

$590,000
7
BD
4
BA
3,537
SqFt
List Price
$590,000
Closing Date
1800-01-01 00:00:00
MLS#
494067
Status
ACTIVE
Lot Size
428630
County
Lake
Listing Type
Multifamily
Year Built
1970

Property Description

Addresses 7701,7703,7705,7707 Taft. Perfectly prime for development. Nearly 10 acres. The front portion along Taft St. is zoned (C2 ex: stripmall, office, retail): the back portion is zoned for Medium or possibly HIGH DENSITY (R5) which means potentially 120+ condo/retirement units/Multi-family ( and 5+ strip mall unit. Utilities are at the site. Also 3 homes that are fully occupied all on separate parcels (each with 2+ acres each) bring in over $2400 a month in rents. Collect rents while you develop - supported parcel. Projected value for new 2 bedroom condo units would range between 200k-230k each(take a look at Brookstone development just a few blocks to the North 120 condo units sold/selling at $120k+ avg. a piece!! over 10years ago) ex: 120x$120,000 = $14,000,000

Additional Information

Acres
9.84
Multiple Listing Service
Greater Northwest Indiana MLS
Property Type
Multi Unit/Income
Status
ACTIVE

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Calculator source: Real Geeks

Listing courtesy of Berkshire Hathaway Homeservices Executive Realty.

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