4683 Broadway, Gary, IN 46409
sale
$399,900
|
Other
Courtesy Of Realty Executives Premier
Highly visible, Mixed-Use, Six-Unit with consisted income. Located on Broadway in Gary, this established investment property offers a unique combination of 3 main floor commercial units, and 3 residential apartments above. There is a separately rented two-car garage creating seven income streams! This building has been the home of Gary's iconic Playboy Barbershop for the past 43 years. The three main floor business tenants have forced air heating with central air conditioning. Each business owner pays for their own gas, electric and water. Tenants include a barber shop, a woman's hair salon and a financial planner. The upper level includes three residential apartments. There are two units with two bedrooms and one unit with one bedroom. Each residential tenant is responsible for providing their own appliances and window air conditioning units. Each residential tenants pays for their own cooking gas, and electric. These units are boiler heated, with the expense of heat heating gas and water provided by the owner. The two car garage is also rented separately, creating a seventh income stream. New windows were installed on the second floor in 2024, the roof was replaced in 2021, the boiler was replaced in 2016. Playboy Barbershop will be moving with the sale of the building, but may be willing to sell some existing equipment to a new tenant or purchaser. This property offers an excellent opportunity for an investor seeking proven cash flow with significant upside potential as rents are increased over time. A unique combination of long-term tenants, multiple income streams, and future rental upside makes this a compelling investment opportunity. 4675 #1 Broadway = 2 Bedroom. 4675 #2 Broadway = 2 Bedrooms. 4675 #3 = 1 Bedroom. 4677 Broadway = Financial Planner. 4681 Broadway = Hair Salon. 4683 Broadway = Barbershop. The Schedule of Rents and Operating Income/Expenses are available upon request.
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Property Features
- Age: Over 50 Years Old
- Amenities: Basement
- Appliance: Water Heater
- Heating System: Baseboard
- Heating System: Hot Water(Heating)
- Heating System: Forced Air
- Heating System: Central
- Heating System: Natural Gas
- Legal Description: BROADWAY REALTY & INV. CO'S 1ST ADD. LOTS 28 TO 30 BL.5
- MLSID: 846244
- Parking Spaces: 12
- Rooms: Basement
- View Type: City
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