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422 S Union Street

Warsaw, IN 46580
  • $370,000
  • STATUS: Cont-AccptngBackupOffers
  • ON SITE: 123 Days
  • MLS #: 202405090
UPDATED: 87 min ago
$370,000
  • 8
    BEDS
  • 0.38
    ACRES
  • 5
    BATHS
  • 0
    1/2 BATHS
  • 3,737
    SQFT
Neighborhood:
Type:
Multi-Family
Built:
1875
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

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.

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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: 2024-06-22T13:29:45.083.

www.team-janet.com/homes/147726601
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422 S Union Street Warsaw, IN 46580

  • Price: $370,000
  • Status: Cont-AccptngBackupOffers
  • On Site: 123 Days
  • Updated: 87 min ago
  • MLS #: 202405090
8
Beds
5
Baths
0
½ Baths
0.38
Acres
3,737
SQFT
$99
$/SQFT
1875
Built
Neighborhood:
Graves
County:
Kosciusko
Area:
Kosciusko
Elementary School:
Washington
Middle School:
Edgewood
High School:
Warsaw
School District:
Warsaw Community
Property Description
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.
Exterior Features

Exterior Aluminum Lot Description Level0-2.9999 Lot Dimensions 83X198 Outbuilding None Parking Spaces 8 Pool YN No Style Two Story Waterfront YN No

Interior Features

Above Grade Bedrooms 8 Above Grade Finished Sqft 3737 Above Grade Unfin Sq Ft 0 Amenities Water Heater ElectricWater Heater Gas Basement Foundation Partial BasementUnfinished Basement YN Yes Below Grade Baths 0 Below Grade Bedrooms 0 Below Grade Finished Sqft 0 Below Grade Unfin Sq Ft 1151 Cooling None Dishwashers 0 Disposals 0 Dryers 1 Flooring Vinyl Heating Fuel GasBaseboardForced Air Microwaves 0 Ranges Ovens 4 Refrigerators 4 Rooms Below Grade 0 Total Baths 5 Total Below Grade Sqft 1151 Total Sq Ft 4888 Unit1 Bathrooms 1 Unit1 Bedrooms 2 Unit2 Bathrooms 1 Unit2 Bedrooms 2 Unit3 Bathrooms 1 Unit3 Bedrooms 2 Unit4 Bedrooms 1 Unit5 Bedrooms 1 Wash Dry Hookups 1 Washers 1

Property Features

Annual Electric Expense 1828.44 Annual Fuel Expense 2921.52 Annual Gross Rent 85184.76 Annual Insurance Expense 4128.96 Annual Maint Expense 0 Annual Misc 0 Annual Net Income 69133.86 Annual Property Tax 3418.38 Annual Trash Expense 948 Annual Water Sewer Exp 2805.6 Assoc Dues Frequency Not Applicable Auction Y / N No Cross Street Winona Ave Efficiencies 0 Electric Meters 5 For Sale Or Rent For Sale Four Bedrooms 0 Gas Meters 4 Gross Monthly Income 7099 Gross Monthly Rent 7098.73 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 3 Unit1 Unit Rent 1470 Unit1- Currently Rntd Y / N Yes Unit2 Unit Rent 1400 Unit2- Currently Rntd Y / N No Unit3 Unit Rent 1555 Unit3- Currently Rntd Y / N Yes Unit4 Unit Rent 1465 Unit4- Currently Rntd Y / N Yes Unit5 Unit Rent 1208 Unit5- Currently Rntd Y / N Yes Units Rented 4 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: 2024-06-22T13:29:45.083.

 
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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.