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.
Read More About This Property
Read Less About This Property
Copyright © 2023 Greater Northwest Indiana Association of REALTORS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified. Information being provided is 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.
Property Features
- Age: Over 50 Years Old
- Architecture Style: Other
- Cooling System: Window Unit(s) A/C
- Cooling System: Central A/C
- Floor Covering: Other
- Floors: 0.0
- Heating System: Forced Air
- MLSID: 518862
- Roof Type: Unknown
Data powered by Attom Data Solutions. Copyright© 2023. Information deemed reliable but not guaranteed.
You may also be interested in...
lease
$3,142
Retail, Office, Other
710 Franklin Street
Michigan City, IN 46360
Building: 3,142 sq. ft.
|
Land: 0.16 Acres
Courtesy Of d'aprile properties llc
lease
Price upon request
Retail, Office
711 Franklin Street
Michigan City, IN 46360
Building: 950 sq. ft.
|
Land: 0.16 Acres
Courtesy Of Coldwell Banker Residential