Fully lased

Completely remodeled investment property in the Michigan City! 3 unit with total of 5 BR and 3 BA (3 bed/1 bath, 1 bed/1 bath, large 1 bed/1 bath), 1 unit up and 2 on the main level. Contemporary windows, roof, plumbing, furnaces and all interior finishes.

Gas and electric paid by Tenants, water/sewer is landlord paid. Total monthly rent of $2, 700/mo and units are leased to June '24, Nov '24 and Apr '25 CAP rate is over 9.0. Close to the brand new south shore station for an easy trip to Chicago, South Bend or in between.

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on 1516 Lafayette St
in Michigan City, IN
Presented by Susan Beyler at
Harbor Lake Real Estate, LLC.


Property MLS #801265 from NIRA

+ Reveal additional info including schools and tax history

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+ Bedrooms

Bedrooms: 5

+ Other Rooms

Total Rooms: 12
Basement Features: Unfinished

+ Bathrooms

Total Bathrooms: 3
Full Bathrooms: 3

+ Appliances

Dishwasher
Refrigerator
Washer
Gas Range
Dryer

+ Heating and Cooling

Heating Features: Forced Air, Natural Gas

+ Exterior and Lot Features

Front Porch
Patio And Porch Features: Front Porch

+ Land Info

Lot Size Acres: 0.1282
Lot Size Square Feet: 5584

+ Garage and Parking

Parking Total: 3

+ Homeowners Association

Association Fee Frequency: Annual

+ Rental Info

Rent Includes: Sewer, Water

+ Other Property Info

Annual Tax Amount: 2374
Source Listing Status: Active
County: La Porte
Tax Year: 2023
Source Property Type: Residential Income
Insurance Expense: 1743
Source Neighborhood: Sanborns Add 02
Owner Pays: Insurance, Water, Taxes, Sewer, Repairs
Subdivision: Sanborns Add 02
Township: Michigan
Property Subtype: Triplex
Source System Name: C2C
+ Reveal Property Sale History

Price Changed 2024-06-04
$269,000
NIRA

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Price Changed 2024-05-02
$279,000
NIRA

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Listed 2024-03-25
$285,000
NIRA

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Sold 2006-12-26
$25,000
NIRA

+ Commercial Info

Net Operating Income: 27466

+ Building and Construction

Year Built: 1876
Above Grade Finished Area: 2416
Levels: Two
Property Age: 148
Property Condition: Updated/Remodeled

+ Utilities

Sewer: Public Sewer
Water Source: Public

+ Display Complete School Details

Marsh Elementary School is a public elementary school located approximately 0.2 miles away.
Map directions

Martin T Krueger Middle School is a public middle school located approximately 2.3 miles away.
Map directions

Michigan City High School is a public high school located approximately 2.4 miles away.
Map directions

Saint Stanislaus Kostka School is a private elementary and middle school located approximately 0.3 miles away.
Map directions