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418 S Union Street

Warsaw, IN 46580
  • $335,000
  • STATUS: Cont-AccptngBackupOffers
  • ON SITE: 113 Days
  • MLS #: 202405092
UPDATED: 54 min ago
$335,000
  • 6
    BEDS
  • 0.35
    ACRES
  • 5
    BATHS
  • 0
    1/2 BATHS
  • 3,474
    SQFT
Neighborhood:
Type:
Multi-Family
Built:
1860
County:
Area:

School Information

Elementary School:
Middle School:
High School:
School District:
Listing provided by James Bausch of RE/MAX Results- Warsaw: Cell: 574-742-4531.

Description

Seize the chance to elevate your investment portfolio with this five-unit property boasting an impressive 12.45% CAP rate. 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. Unit configurations vary, from a refreshed efficiency in Unit A to a spacious 1 bedroom (or a pass through 2 bedroom) in Units B & 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 securing your financial future.

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© 2024 Indiana Regional MLS All rights reserved. The data relating to real estate for sale or lease on this web site comes in part from IRMLS. IDX information is provided exclusively 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. Information is deemed reliable but is not guaranteed accurate by the MLS or Janet English | Keller Williams. Data last updated: 2024-06-12T17:29:16.95.

www.team-janet.com/homes/147726603
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418 S Union Street Warsaw, IN 46580

  • Price: $335,000
  • Status: Cont-AccptngBackupOffers
  • On Site: 113 Days
  • Updated: 54 min ago
  • MLS #: 202405092
6
Beds
5
Baths
0
½ Baths
0.35
Acres
3,474
SQFT
$96
$/SQFT
1860
Built
Neighborhood:
Graves
County:
Kosciusko
Area:
Kosciusko
Elementary School:
Washington
Middle School:
Edgewood
High School:
Warsaw
School District:
Warsaw Community
Property Description
Seize the chance to elevate your investment portfolio with this five-unit property boasting an impressive 12.45% CAP rate. 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. Unit configurations vary, from a refreshed efficiency in Unit A to a spacious 1 bedroom (or a pass through 2 bedroom) in Units B & 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 securing your financial future.
Exterior Features

Exterior Brick Lot Description 0-2.9999 Lot Dimensions 77X198 Outbuilding None Parking Spaces 8 Pool YN No Style Two Story Waterfront YN No

Interior Features

Above Grade Bedrooms 6 Above Grade Finished Sqft 3474 Above Grade Unfin Sq Ft 0 Amenities BasementOff Street Parking Basement Foundation CrawlPartial BasementUnfinished Basement Material Block Basement YN Yes Below Grade Baths 0 Below Grade Bedrooms 0 Below Grade Finished Sqft 0 Below Grade Unfin Sq Ft 886 Cooling None Dishwashers 0 Disposals 0 Dryers 0 Flooring Laminate Heating Fuel GasBaseboardForced Air Microwaves 0 Ranges Ovens 4 Refrigerators 5 Rooms Below Grade 0 Total Baths 5 Total Below Grade Sqft 886 Total Sq Ft 4360 Unit1 Bathrooms 1 Unit2 Bathrooms 1 Unit2 Bedrooms 2 Unit3 Bathrooms 1 Unit3 Bedrooms 1 Unit4 Bedrooms 2 Unit5 Bedrooms 1 Wash Dry Hookups 0 Washers 0

Property Features

Annual Electric Expense 2659.8 Annual Fuel Expense 1008.48 Annual Gross Rent 76452 Annual Insurance Expense 3900 Annual Maint Expense 0 Annual Misc 0 Annual Net Income 62227.22 Annual Property Tax 2792.5 Annual Trash Expense 948 Annual Water Sewer Exp 2916 Assoc Dues Frequency Not Applicable Auction Y / N No Cross Street Winona Ave Efficiencies 1 Electric Meters 5 For Sale Or Rent For Sale Four Bedrooms 0 Gas Meters 2 Gross Monthly Income 6371 Gross Monthly Rent 6371 Lease Term Month to Month1 Year New Construction No One Bedrooms 2 Owner Pays ElectricHeatingSewerTrash CollectionWater Owner Real Estate License YN No Pet Restrictions YN Yes Planned Unit Dev YN No Property Sub Type Fiveplex Reo YN No Sale Includes BuildingLand Sewer City Tenant Pays None Three Bedrooms 0 Township Wayne Two Bedrooms 2 Unit1 Unit Rent 780 Unit1- Currently Rntd Y / N Yes Unit2 Unit Rent 1500 Unit2- Currently Rntd Y / N Yes Unit3 Unit Rent 1717 Unit3- Currently Rntd Y / N Yes Unit4 Unit Rent 1083 Unit4- Currently Rntd Y / N Yes Unit5 Unit Rent 1291 Unit5- Currently Rntd Y / N Yes Units Rented 5 Water Meters 1 Water Utility City Year Taxes Payable 2024

Listing provided by James Bausch of RE/MAX Results- Warsaw: Cell: 574-742-4531.

© 2024 Indiana Regional MLS All rights reserved. The data relating to real estate for sale or lease on this web site comes in part from IRMLS. IDX information is provided exclusively 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. Information is deemed reliable but is not guaranteed accurate by the MLS or Janet English | Keller Williams.


© 2024 Indiana Regional MLS All rights reserved. The data relating to real estate for sale or lease on this web site comes in part from IRMLS. IDX information is provided exclusively 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. Information is deemed reliable but is not guaranteed accurate by the MLS or Janet English | Keller Williams. Data last updated: 2024-06-12T17:29:16.95.

 
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Janet English | Keller Williams
3928 McCarty Lane Suite A
Lafayette IN, 47905
Listing provided by James Bausch of RE/MAX Results- Warsaw: Cell: 574-742-4531.