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Map

Directions

From Winona Ave head W, turn left onto S Union St, Property is on the right.

Description

An enticing investment opportunity awaits with this rejuvenated five-unit that boasts a lucrative Cap Rate of 12.45% and an impressive Cash on Cash Return of nearly 21%, even factoring for vacancy, property management, and CapEx expenses. Comprising of a variety of sized apartments, this property caters to a diverse range of tenants, with one bedroom, two bedrooms, and a possible three bedroom apartment. Unit B is undergoing a complete remodel and will be finished in similar condition to the other updated units by time of closing unless otherwise negotiated. All units, except “B”, are occupied, ensuring immediate cash flow. Recently installed coin op laundry machines increase the revenue– which is not even included in the provided financials. This property presents an excellent opportunity for investors seeking stable income, solid returns, and long-term growth potential. Schedule a showing today and seize the opportunity to own this five-unit investment property– OR take advantage of the 14-unit, 3 property portfolio for $960,000, with a 12.55% CAP rate and returns exceeding 20%. See MLS #202405089.

Details

  • Property Details

  • MLS #:
    202405090
  • Price
    $370,000
  • Bedrooms
    8
  • Baths Total
    5
  • Full Baths
    5
  • Half Baths
    0
  • Approx. Lot Size Acres
    0.38
  • Approx. Lot Size SqFt
    16,553
  • Class
    Investment
  • DOM
    24
  • Lot Dimensions
    83X198
  • New Construction
    No
  • Parcel ID#
    43-11-07-200-762.000-032
  • Property Sub-Type
    Fiveplex
  • State
    IN
  • Style
    Two Story
  • Subdivision
    Graves
  • Total Finished SqFt
    3,737
  • Total SqFt
    4,888
  • Year Built
    1875
  • Zip
    46580-4280
  • Interior Features

  • Below Grade Finished SqFt
    0
  • Other Features

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

Last updated: April 21 2024, 11:03 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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