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509 E Commercial Ave
Lowell, IN 46356

$740,000 USD

Apartments For Sale  •  6,104 SF

Property Details

• Property Type Apartments
• Total Building Size 6,104 SF
• Lot Size 0.1 AC
• Building Class C
• Year Built 1924

40 Walk Score

Highlights

Turnkey renovation – Every unit fully renovated, including plumbing and electrical, minimizing near-term capital needs

Attractive going-in yield with strong cash flow from acquisition

Compelling projected returns across the hold period

Near-term upside as the asset stabilizes following renovation-driven vacancy | Prime, walkable location on Lowell's historic Commercial Avenue

Embedded rent growth, with in-place rents trailing the surrounding market | High-growth submarket with limited multifamily supply and strong housing

Durable brick construction with dedicated on-site parking, a rare downtown amenity | Excellent connectivity via U.S. 41 to the greater Chicagoland

Public Transportation

Airport	Drive	Walk	Distance
Chicago Midway International	78 min	-	48.8 mi

Parking Details

Parking Available:	Yes
Reserved:	No
Spaces Provided:	12
Type:	Surface
Included in Rent:	Yes