$370,000
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.
From Winona Ave head W, turn left onto S Union St, Property is on the right.
MLS # | 202405090 |
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Status | Cont-AccptngBackupOffers |
Property Type | Investment |
Property SubType | Fiveplex |
Finished Square Feet | 3737 sqft |
Total Square Feet | 4888 sqft |
New Construction | No |
Style | Two Story |
Type | Fiveplex |
Basement | Yes |
Bedrooms | 8 |
Bathrooms | 5 |
Annual Taxes | $4,128.96 |
Year Taxes Payable | 2024 |
Year Built | 1875 |
Virtual Tour | propertypanorama.com » |
Days on Market | 70 |
Living Room | 3 × 0 | Level |
Family Room | 1400 × 1555 | Level |
Kitchen | 1465 × 1208 | Level |
4th Bedroom | 5 × 4 | Level |
5th Bedroom | 4 × 4 | Level |
Extra Room | 1 × 1 | Level |
Full Baths | 8 Main |
Construction | Fiveplex |
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Lot Size | 16,553 sq ft |
Acreage | 0.38 Acres |
Lot Dimensions | 83X198 |
Fence | None |
Area | Kosciusko County |
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County | Kosciusko |
Subdivision | Graves |
Township | Wayne |
City | Warsaw |
State | IN |
Zip | 46580 |
School District | Warsaw Community |
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Elementary | Washington |
Middle School | Edgewood |
High School | Warsaw |
Assoc. Dues | $0.00 Not Applicable |
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MLS# 202405090. 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.
Listing Provided Courtesy of James Bausch
RE/MAX Results- Warsaw
Cell: 574-742-4531
Listing information last updated Monday, April 29th, 2024 at 12:15 AM EDT.