422 Union, Warsaw, IN 46580-4280
Overview
| MLS ID: | #202405090 |
|---|---|
| Price: | $ 370,000 |
| Sq Ft: | 3,737 |
| Finished Sq Ft: | 3,737 |
| Lot Size: | 0.38 Acres |
| Year Built: | 1875 |
| Bedrooms: | 8 |
| Full Bathrooms: | 5 |
| Half Bathrooms: | |
| Taxes: | $ 4,129 |
An enticing investment opportunity awaits with this rejuvenated five-unit that boasts a lucrative Cap Rate of 12.45% and an impressive Cash on Cash Return of nearly 21%, even factoring for vacancy, property management, and CapEx expenses. Comprising of a variety of sized apartments, this property caters to a diverse range of tenants, with one bedroom, two bedrooms, and a possible three bedroom apartment. Unit B is undergoing a complete remodel and will be finished in similar condition to the other updated units by time of closing unless otherwise negotiated. All units, except “B”, are occupied, ensuring immediate cash flow. Recently installed coin op laundry machines increase the revenue– which is not even included in the provided financials. This property presents an excellent opportunity for investors seeking stable income, solid returns, and long-term growth potential. Schedule a showing today and seize the opportunity to own this five-unit investment property– OR take advantage of the 14-unit, 3 property portfolio for $960,000, with a 12.55% CAP rate and returns exceeding 20%. See MLS #202405089.
MLS ID: 202405090
Details
| # of Units | 5 |
|---|---|
| Price Per Unit | 74,000 |
| Above Grade Finished SF | 3,737 |
| Above Grade Unfinished SF | 1 |
| Combined Finished SF | 3,737 |
| Below Grade Finished SF | 1,151 |
| Below Grade Unfinished SF | 1,151 |
| Total Below Grade SF | 1,151 |
| Total Sq Ft | 4,888 |
| Lot Dimensions | 83X198 |
| Approx Lot Size SqFt | 16,553 |
| Approx Lot Size Acres | 0.380 |
| Garage SF | 2,806 |
|---|---|
| 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 | 8 |
|---|---|
| # of Full Baths | 5 |
| # of Half Baths | 0 |
| Living Room | 3 x 0 |
| Kitchen | 1465 x 1208 |
| Family Room | 1400 x 1555 |
| Bedroom 4 | 5 x 4 |
| Bedroom 5 | 4 x 4 |
| Extra Room | 1 x 1 |
| Laundry Room | 8 x |
| Other Room 2 | 2 x 7099 |
| Other Room 3 | 2 x |
| Annual Gross Rent Income | $85,184.76 |
|---|---|
| Annual Sewer Expense | $2,805.60 |
| Annual Fuel Expense | $2,921.52 |
| Annual Electric Expense | $1,828.44 |
| Annual Trash Expense | $948.00 |
| Annual Property Tax | $3,418.38 |
Map
Listing Office: RE/MAX Results- Warsaw
Listing Agent: James Bausch
Disclaimer:
Mortgage
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