Loan Price
$39,426
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Property Description for 6200 Melton Road Gary, IN 46403
This is a spectacular investment , this motel is located in a very high traffic area, with restaurants and retail stores etc. This a fully operated motel with substantial capital improvements. Extended stay motel with 113 rooms with full kitchenettes ,queen, king ,and double size beds. Five individual bedroom suites and one deluxe owner suite. All rooms have ceramic flooring. Recent upgrades, the beautiful lobby has updated marble flooring. Amenities : High speed internet access, public access WIFI, smoke free and patio.95-100% occupancy with seven day rates of $350.00 weekly. Near the Intersections of US-20 / US -12. Construction has started for the South Shore double train tracks, close to downtown Chicago, close to Indiana Dunes National Park and I-65,I90,I-80/94. Walking distance to the Miller Beach areas. Recent updated Fire Stone rubber roof w/ 20 year warranty, black top parking lot , high efficiency hot water boiler. All investors can definitely consider options for a full or partial condo conversions, senior living and / or market rate apartment housing. This property is sold as is and asset sale only, unaudited financials . Surrounded by 15 Acre National Park , 3-4 mile walk through the Dunes. Review on You Tube information on the double track NWI. The seller is motivated, Negotiate with good reasonable offers. Investors you must take advantage of this great investment opportunity.
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Address:6200 Melton Road Gary IN 46403
Status:Active
on site: 188 days
Price:$6,999,000
Bathrooms:0
Sq. Feet:19,311
Year Built:1960
Lot Size:1.88
County: Lake
Township: Calumet
MLS #:804875
Property Type:Hotel-Motel
Lot Dimensions:1.879 AC
Directions:i-65 North to US-12/US-20 E. Left turn to 6200 Melton Road.
Total Sq. Ft. :19,311
Basement:Yes
Tax Year:2023
Mandatory HOA Fee:$
Total Sq. Ft.:19,311
Interior Features:Entrance Foyer, Storage, High Ceilings, High Speed Internet
Appliances:Free-Standing Electric Oven, Refrigerator, Microwave
Exterior Features:Barbecue, Outdoor Grill, Lighting
Heat:Forced Air
Jeff Safrin
Additional Phone (219) 309-9930
Email jeff.safrin@talktotucker.com
F.C. Tucker Company
Schedule a Video Chat Tour
Listing provided courtesy of Keith Cunningham with BS Realty Services Indiana, LL from NIRA as distributed by MLS GRID
Based on information submitted to the MLS GRID as of 06/06/2024 12:00 AM. All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
Gary Market Report
84
Avg. DOM
$147.51
Avg. $ / Sq.Ft.
$ 145,000
Med. List Price
The house prices in Gary are indeed dropping at the moment. There has been a decrease in price of $0.00. There are several factors that can cause a price drop. Higher mortgage rates, lower demand, prices of comparable properties can all cause the price of a house to drop.
There is no data available at this time for Gary.
The most popular place to buy a home in Gary is 010 - Woodford County. 010 - Woodford County is where we have the most properties listed and there seems to be the most demand to buy a house. Some people love to live in the most popular areas of a city, and others prefer to live in an area that is less busy. Regardless of your preference, we have a vast variety of listings and agents to help you find a house in Gary .
The average amount of property taxes you would have to pay for a home in Gary is $333.81. It is important to consider property taxes when purchasing a home. Property taxes are tied to the value of the home. The more expensive the home is, the higher the taxes will be.
Properties in Gary are staying listed for an average of 84 days. A good way to tell if you are in a buyer's or seller's market is to look at the average days on market for homes in the area. A low number of average days on market indicate a seller's market whereas a high number of average days on market indicate a buyer's market.
The last home listed in Gary was 18 minutes ago.
At the moment we have 6 open houses that you can visit.
The cost of the most expensive home in Gary is $440,000.00. There are several reasons to consider buying an expensive home. They typically have great amenities, will be in great condition, and have plenty of space inside and outside of the home. Expensive real estate usually appreciates very fast, making it a good investment if you can afford it.
The cost of the cheapest home in Gary is $7,000.00 . Buying a cheap house can have many benefits including keeping your payments low, allowing more room in your budget to customize or improve the house, as well as allowing you to pay of your mortgage faster.
The date of the oldest built home in Gary in year 1910 and the newest built house is in year 2024.
The average size of properties in Gary is 1607.87 sq.ft. , the biggest one being 5040 sq.ft. and the smaller being 0 sq.ft. . The size of your family and budget are important factors to consider when purchasing a home.
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