322 Columbia, Warsaw, IN 46580-4376
Overview
| MLS ID: | #202405091 |
|---|---|
| Price: | $ 280,000 |
| Sq Ft: | 2,988 |
| Finished Sq Ft: | 2,988 |
| Lot Size: | 0.20 Acres |
| Year Built: | 1890 |
| Bedrooms: | 5 |
| Full Bathrooms: | 4 |
| Half Bathrooms: | |
| Taxes: | $ 2,200 |
Don’t miss out on this exceptional opportunity to enhance your investment portfolio with a fully occupied, updated four-unit apartment, offered at an impressive 11.75% CAP rate. With traditional financing, you can secure nearly a 17% cash on cash return, even after accounting for vacancy, property management, and CapEx. This property is a lucrative addition to any investment strategy. Numerous updates have been made throughout the property, including complete renovations of the detached apartment (Unit D), as well as refreshing flooring, paint, kitchens, baths, and appliances in other units. These enhancements ensure tenant satisfaction and maximize rental potential. For investors seeking a broader portfolio, this property is also available as part of a 14-unit, 3-property portfolio for $960,000, boasting an impressive 12.55% CAP rate and returns exceeding 20%. Check MLS #202405089 for more details. The seller strongly prefers to sell via the entire package, presenting an opportunity to capitalize on a diverse portfolio of income-generating properties. Don’t let this opportunity slip away. Take action today to enhance your financial position with this investment opportunity.
MLS ID: 202405091
Details
| # of Units | 4 |
|---|---|
| Price Per Unit | 70,000 |
| Above Grade Finished SF | 2,988 |
| Above Grade Unfinished SF | 1 |
| Combined Finished SF | 2,988 |
| Below Grade Finished SF | 768 |
| Below Grade Unfinished SF | 768 |
| Total Below Grade SF | 768 |
| Total Sq Ft | 3,756 |
| Lot Dimensions | 66X132 |
| Approx Lot Size SqFt | 8,712 |
| Approx Lot Size Acres | 0.20 |
| Garage SF | 3,109 |
|---|---|
| Garage # of Cars | 1 |
| Water Front | No |
|---|
| Style | Two Story |
|---|---|
| New Construction | No |
| Elementary School | Washington |
|---|---|
| Middle School | Edgewood |
| Senior | Warsaw |
| District | Warsaw Community |
| # Bedrooms | 5 |
|---|---|
| # of Full Baths | 4 |
| # of Half Baths | 0 |
| Living Room | 2 x 0 |
| Kitchen | 1251 x |
| Family Room | 1524 x 1356 |
| Bedroom 4 | 2 x 2 |
| Bedroom 5 | 4 x 4 |
| Laundry Room | 7 x |
| Other Room 2 | 1 x 5085 |
| Other Room 3 | 2 x |
| Annual Gross Rent Income | $61,022.28 |
|---|---|
| Annual Sewer Expense | $3,109.00 |
| Annual Fuel Expense | $1,020.60 |
| Annual Electric Expense | $1,971.12 |
| Annual Trash Expense | $948.00 |
| Annual Property Tax | $2,358.00 |
Map
Listing Office: RE/MAX Results- Warsaw
Listing Agent: James Bausch
Disclaimer:
Mortgage
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