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Map

Directions

From Winona Ave, head west. Turn left onto Union St, Property is on the left.

Description

Seize the chance to elevate your investment portfolio with this five-unit property boasting an impressive 12.45% CAP rate. This updated apartment building promises lucrative returns, long-term growth potential, and most importantly immediate cash flow, as all units are leased. The majority of the units have been refreshed and updated ensuring tenant satisfaction and maximizing rental appeal. Unit configurations vary, from a refreshed efficiency in Unit A to a spacious 1 bedroom (or a pass through 2 bedroom) in Units B & C. Unit D presents a large 2 bedroom (possible 3 bedroom) while Unit E has recently undergone extensive remodeling, featuring new paint, flooring, and a refreshed kitchen and bath. Explore additional revenue opportunities by incorporating coin-operated laundry facilities in the lobby. Even after considering vacancy, property management, and CapEx, investors can secure an impressive 19.6% cash on cash return, assuming traditional financing. For those seeking a broader investment strategy, this property is also available as part of a 14-unit, 3-property portfolio, priced at $960,000. with a remarkable 12.55% CAP rate and returns exceeding 20%. See MLS #202405089. Don’t miss out on this extraordinary opportunity to capitalize on strong returns and a thriving rental market. Schedule a viewing today and take the next step towards securing your financial future.

Details

  • Property Details

  • MLS #:
    202405092
  • Price
    $335,000
  • Bedrooms
    6
  • Baths Total
    5
  • Full Baths
    5
  • Half Baths
    0
  • Approx. Lot Size Acres
    0.35
  • Approx. Lot Size SqFt
    15,246
  • Class
    Investment
  • DOM
    24
  • Lot Dimensions
    77X198
  • New Construction
    No
  • Parcel ID#
    43-11-07-200-754.000-032
  • Property Sub-Type
    Fiveplex
  • State
    IN
  • Style
    Two Story
  • Subdivision
    Graves
  • Total Finished SqFt
    3,474
  • Total SqFt
    4,360
  • Year Built
    1860
  • Zip
    46580-4279
  • Interior Features

  • Below Grade Finished SqFt
    0
  • Other Features

  • Pool Y/N
    No
  • Waterfront Y/N
    No

Last updated: April 12 2024, 5:02 PM

Listing courtesy of: James Bausch, RE/MAX Results- Warsaw

IDX information provided by the Indiana Regional MLS. IDX information is provided exclusively for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data is deemed reliable but is not guaranteed accurate by the MLS. Listings displayed on this website may be subject to prior sale or removal from sale; availability of any listing should always be independently verified.

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