324 E 10th Street, Michigan City, IN 46360
sale $8,200,000 | Other, Multi Family
Courtesy Of NWI Pro Services Inc. dba RE/MAX Lifestyles
Special opportunity for a single investor or investment group to get in on this fine collection of rental homes in Michigan City, plus a few in Laporte & Westville. Featuring 63 total rental units and 2 lots. This is of the emerging housing markets in Northwest Indiana with the South Shore NICTD double tracking project and transit oriented development already taking place in Michigan City. These 31 SF residences, 10 duplexes, 3 four-unit buildings + 2 lots have been assembled by over multiple generations, and proudly maintained and improved. Tremendous cash flow and potential equity value upside with a buy/hold/divest plan. Given their condition, they've historically been very easy to lease. Good cap rate 7.66. Most units have W&D hookup, tenants supply own W&D. Tenants responsible for all utilities, which are separated even in the multi units. Landlord cares for the grass and landscape in the Multis, SF tenants care for their own lawns. POF/banker letter required.
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- Age: Over 50 Years Old
- Architecture Style: Other
- Cooling System: Window Unit(s) A/C
- Cooling System: Central A/C
- Floors: 0.0
- Heating System: Forced Air
- MLSID: 518862
- Parking Spaces: 0
- Roof Type: Unknown
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