This property is not currently for sale or for rent.
Property Description
Fully occupied Four-unit apartment building in Warsaw with value-add potential. Rents are at market rates. 2 of the 4 tenants have been there longer than 2 years. Property is a C class property renting to tenants on a 2 of the 4 on a weekly basis, which increases rent since there are 4.33 weeks in a month. Utilities are included in rent, which makes it for an easy rent to the lower income bad credit market. Utilities (Nipsco) ARE separately metered, water is not. A section of the property has recently received a new metal roof. Proof of funds required with offers. The building is FULLY occupied, AND comes with additional cash flow via coin washer and dryer (Up to $300 a month which will pay the property tax bill, water bill and some!) Here's your chance to start your own business!! Sellers may consider land contract/seller financing/master lease offers with sizable down payment. Seller to offer 90 day training/transition support. You won't find a higher cap rate building anywhere, even with the property manager in place, take over management yourself and drive that cap rate even higher! Rates going up = Higher rental demand! Walkthroughs are Set for Monday April 18th. Starting 502 S Union at 3:00pm-3:30 with 519 W Winona directly afterwards starting at 3:45-4:30.
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.
