$335,000 Price Analysis    ♡   Warsaw, IN 46580 6 bed 5 bath 3,474 SqFt ($96/SqFt) 0.35 acre lot. Built 1860 Listed 2024-02-19, Taxes $2,792 | ✓ USDA Eligible near Warsaw, IN Restrictions may apply due to home size |
Seize the chance to elevate your investment portfolio with this five-unit property boasting an impressive 12.45% CAP rate.
* Has Contingent Offer *This updated apartment building promises lucrative returns, long-term growth potential and most importantly immediate cash flow, as all units are leased. The majority of the units have been refreshed and updated ensuring tenant satisfaction and maximizing rental appeal. Uni t configurations vary, from a refreshed efficiency in Unit A to a big 1 bedroom (or a pass through 2 bedroom) in Units B and C. Unit D presents a large 2 bedroom (possible 3 bedroom) while Unit E has recently undergone extensive remodeling, featuring new paint, flooring and a refreshed kitchen and bath.
Explore additional revenue opportunities by incorporating coin-operated laundry facilities in the lobby. Even after considering vacancy, property management and CapEx, investors can secure an impressive 19.6% cash on cash return, assuming traditional financing. For those seeking a broader investment strategy, this property is also available as part of a 14-unit, 3-property portfolio, priced at $960, 000. with a remarkable 12.55% CAP rate and returns exceeding 20%. See MLS #202405089. Don't miss out on this extraordinary opportunity to capitalize on strong returns and a thriving rental market. Schedule a viewing today and take the next step towards scuring your financial future.
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RE MAX Results.
Property MLS #202405092 from IRMLS
Full Bathrooms: 5
Heating Features: Gas, Baseboard, Forced Air
Flooring: Laminate
Lot Size Acres: 0.35
Lot Size Dimensions: 77X198
Lot Size Square Feet: 15246
High School: Warsaw
Middle School: Edgewood
School District: Warsaw Community
Map directions Map directions Map directions Map directionsNumber of Studio Units: 1
Number of 1 Bedroom Units: 2
Number of 2 Bedroom Units: 2
Bedrooms in Unit-2: 2
Bedrooms in Unit-3: 1
Bedrooms in Unit-4: 2
Bedrooms in Unit-5: 1
Total Bathrooms in Unit-1: 1
Total Bathrooms in Unit-2: 1
Total Bathrooms in Unit-3: 1
Unit 1 Total Actual Rent: 780
Unit 2 Total Actual Rent: 1500
Unit 3 Total Actual Rent: 1717
Unit 4 Total Actual Rent: 1083
Unit 5 Total Actual Rent: 1291
Lease Term: Month to Month, 1 Year
Source Listing Status: Cont-AccptngBackupOffers
County: Kosciusko County
Cross Street: Winona Ave
Directions: head west. Turn left onto Union St, Property is on the left.
Tax Year: 2024
Source Property Type: INVESTMENT
Insurance Expense: 3900
Source Neighborhood: Graves
Number of Separate Electric Meters: 5
Number of Separate Gas Meters: 2
Number of Separate Water Meters: 1
Owner Pays: Electric, Heating, Sewer, Trash Collection, Water
Parcel Number: 43-11-07-200-754.000-032
Postal Code Plus 4: 4279
Subdivision: Graves
Township: Wayne
Trash Expense: 948
Lot Number: 20
Source System Name: C2C
| Year | Assessments Building + Land Total | Tax |
|---|---|---|
| 2022 | $111,400 + $22,900 $134,300 | $2,792 |
| 2021 | $92,900 + $21,200 $114,100 | $2,384 |
| 2020 | $88,200 + $16,100 $104,300 | $2,181 |
| 2019 | $83,200 + $15,300 $98,500 | $2,063 |
| 2018 | $78,900 + $16,500 $95,400 | $2,003 |
| 2017 | $76,100 + $15,300 $91,400 | $1,923 |
| 2016 | $63,100 + $12,300 $75,400 | $1,588 |
| 2015 | $58,500 + $12,300 $70,800 | $1,475 |
| 2014 | $67,600 + $12,300 $79,900 | $1,598 |
| 2013 | $66,200 + $12,300 $78,500 | $1,908 |
| 2012 | $68,300 + $12,300 $80,600 | $1,970 |
| 2011 | $73,400 + $26,400 $99,800 | $2,230 |
| 2010 | $74,700 + $26,900 $101,600 | $2,088 |
| 2008 | $97,300 + $27,100 $124,400 | $2,321 |
| 2007 | $94,800 + $26,400 $121,200 | $2,188 |
$335,000
IRMLS
Sold 2020-12-09
$176,250
Public Record
Sold 2015-02-11
$100,000
Public Record
Year Built: 1860
Above Grade Finished Area: 3474
Below Grade Unfinished Area: 886
Construction Materials: Block
Property Age: 164
Levels or Stories: 2
Structure Type: Fiveplex
House Style: Two Story
Total Area Sqft: 4360
Total Below Grade Area: 886
Sewer: City
City
Water Sewer Expense: 2916
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The property loan eligibility may be subject to additional requirements beyond geographical location including but not limited to the condition of the property. Speak with a real estate professional to find out more about the eligibility of a specific property.