6021-55 Canden Ave., 2378-2400 Dixie Dr. , 6021-6121 McCasland Ave

Highlights:

• Excellent unit mix comprised of 82 Two Bedroom and 18 One Bedroom Units
• Attractive existing cash flow with opportunity to continue proven renovation strategy
• Easy access to the Portage - Ogden train stop
• Driving distance to the Indiana Dunes and Indiana's outdoor amenities
• Room to raise rents to market without rehab and additional rent attainable with continued rehab plan
• Easy access to I-80
• 203 surface parking spaces on site
• Within a 50 minute drive from Midway International Airport
• Coin laundry in each building
• Separately metered electrical
• Electric baseboard heating
• Frame construction with brick exteriors

Description:

33 Realty is delighted to present Canden Crossing a 100-unit multifamily investment opportunity in Portage, Indiana. The property straddles Interstate 80 and provides two unique housing options for tenants to call home. Built in 1972 and 1980, these apartments underwent a large remodel between 2022 and 2023, allowing an investor the opportunity to continue the rolling rehab of the property to continue to increase NOI through a proven renovation plan. The south side of the property is comprised of four larger buildings with concrete balconies and ample open space for tenants to enjoy. The north side of the property is composed of 13 smaller buildings tucked into a wooded setting. With the Portage/Ogden train stop minutes away this location makes it possible to easily access Chicago by rail or road, while giving tenants the ability to access all that Northwest Indiana has to offer.

Canden Crossing is located on the East side of Willowcreek Rd north of I-80. Portage's accessibility to transportation makes it attractive to residents. The property is within walking distance from a multitude of shops, cafes, restaurants, and grocery stores such as Mark O's Bar & Grill, Another Round Pizza, Big Time Burgers, Walgreens, Ace Hardware, Dunkin Donuts, and the Treatery. In addition, this property benefits from excellent transportation links serviced by the Metra commuter rail stop at the Portage/Ogden Dunes stop to the North. Only a 5 minute drive to the Dunes and the beaches to the North.

Portage, Indiana, in Porter county, is 8 miles E of Gary, Indiana and 31 miles SE of Chicago, Illinois. The city is part of the Gary metropolitan statistical area. Portage is located along the Lake Michigan lakeshore. Part of its boundaries include some of the major manufacturing and steel production which occurs in Northwest Indiana. Therefore, Portage’s closeness to manufacturing and proximity to interstates means there are many manufacturing, industrial management, production, and logistics job opportunities in the area. The diversity of Portage’s job market comes from the fact that it is in a relatively dense populated area. Portage is a city of 37,000 residents. It is located in the Northwest Indiana region which has over 800,000 residents. On top of that, the city is less than a 40 mile drive from downtown Chicago. Jobs are located where people live. In conclusion, the location of Portage makes for many career opportunities for its residents. The best cities in Indiana should have the best healthcare options. Portage has great healthcare providers in Portage with more in other nearby towns including leading hospitals in Chicago. In 2019 Northwest Indiana became home to America’s 61st national park. Part of the Indiana-Lake Michigan lakeshore and its surrounding area received national park status. The Indiana Dunes National Park is less than 15 minutes from Portage, Indiana. There are many things to do at the Indiana Dunes National Park. You can hike miles of trails or camp overnight in their campground. Beachgoers will enjoy sitting on the sandy shores of Lake Michigan.

Documents: