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748 N Lake Street

Warsaw, IN 46580
  • $249,000
  • STATUS: Cont-AccptngBackupOffers
  • ON SITE: 57 days
  • MLS #: 202121570
UPDATED: 56 min ago
$249,000
  • 6
    BEDS
  • 0.24
    ACRES
  • 4
    BATHS
  • 0
    1/2 BATHS
  • 4,655
    SQFT
Neighborhood:
Type:
Multi-Family
Built:
1900
County:
Area:

School Information

Elementary School:
Middle School:
High School:
School District:

Description

Finally theres a multi-family investment property available on the market! Introducing 'Lake View Apartments' a four unit value-add building with 66 feet of Center Lake frontage. The extra large main floor apartment has nearly 1900 sq feet and lends itself towards owner occupancy with the opportunity to have other tenants pay living expenses or as the anchor to this solid investment. All units are in tenantable condition and are below market rents. Take advantage of the opportunity to increase rents as-is or to renovate and significantly increase rents. There is even potential for redevelopment into Short Term Rentals and see a tremendous return on your investment by inviting guests to enjoy the waterfront property. Lake View Apartments are within walking distance to downtown restaurants, shopping, and Center Lake Park where many community events can be enjoyed. Separately metered units means tenants are paying their own gas & electric.

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© 2021 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 Anthony REALTORS. Data last updated: 2021-08-05T09:28:18.357.

www.indianahomehub.com/homes/118014458
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748 N Lake Street Warsaw, IN 46580

  • Price: $249,000
  • Status: Cont-AccptngBackupOffers
  • Updated: 56 min ago
  • MLS #: 202121570
6
Beds
4
Baths
0
½ Baths
0.24
Acres
4,655
SQFT
$53
$/SQFT
1900
Built
Neighborhood:
Hood & Britton
County:
Kosciusko
Area:
Kosciusko
Elementary School:
Washington
Middle School:
Edgewood
High School:
Warsaw
School District:
Warsaw Community
Property Description
Finally theres a multi-family investment property available on the market! Introducing 'Lake View Apartments' a four unit value-add building with 66 feet of Center Lake frontage. The extra large main floor apartment has nearly 1900 sq feet and lends itself towards owner occupancy with the opportunity to have other tenants pay living expenses or as the anchor to this solid investment. All units are in tenantable condition and are below market rents. Take advantage of the opportunity to increase rents as-is or to renovate and significantly increase rents. There is even potential for redevelopment into Short Term Rentals and see a tremendous return on your investment by inviting guests to enjoy the waterfront property. Lake View Apartments are within walking distance to downtown restaurants, shopping, and Center Lake Park where many community events can be enjoyed. Separately metered units means tenants are paying their own gas & electric.
Exterior Features

Architectural Style Traditional Channel Frontage 0 Driveway Concrete Exterior Aluminum Lake Type Non Ski Lake Location City/Town/SuburbLake Lot Description 0-2.9999 Lot Dimensions 152X66 Outbuilding None Parking GarageOff Street Parking Spaces 5 Pool YN No Road Surface Asphalt Roof Material Asphalt Sea Wall Type Steel Style Two Story Unit1 Garage Type None Unit2 Garage Type None Unit3 Garage Type None Unit4 Garage Type Attached Water Access Lakefront Water Frontage 66 Water Name Center Lake Water Type Lake Waterfront YN Yes

Interior Features

Above Grade Bedrooms 5 Above Grade Finished Sqft 3009 Above Grade Unfin Sq Ft 0 Amenities Off Street ParkingWater Heater Gas Basement Foundation Full Basement Basement Material Block Basement YN Yes Below Grade Baths 1 Below Grade Bedrooms 1 Below Grade Finished Sqft 1646 Below Grade Unfin Sq Ft 0 Cooling Window Dishwashers 1 Disposals 0 Dryers 0 Flooring CarpetWood Heating Fuel GasForced Air Microwaves 1 Ranges Ovens 4 Refrigerators 4 Rooms Below Grade 3 Total Baths 4 Total Below Grade Sqft 1646 Total Sq Ft 4655 Unit1 Basement YN No Unit1 Bathrooms 1 Unit1 Bedrooms 1 Unit1 Sq Ft 762 Unit2 Basement YN No Unit2 Bathrooms 1 Unit2 Bedrooms 1 Unit2 Sq Ft 670 Unit3 Basement YN No Unit3 Bathrooms 1 Unit3 Bedrooms 1 Unit3 Sq Ft 670 Unit4 Basement YN Yes Unit4 Bathrooms 1 Unit4 Bedrooms 3 Unit4 Sq Ft 1862 Wash Dry Hookups 1 Washers 0

Property Features

Annual Electric Expense 0 Annual Fuel Expense 0 Annual Gross Rent 27540 Annual Insurance Expense 1500 Annual Maint Expense 0 Annual Misc 0 Annual Net Income 19564 Annual Property Tax 3728 Annual Trash Expense 384 Annual Water Sewer Exp 2364 Assoc Dues Frequency Not Applicable Efficiencies 0 Electric Company Nipsco Electric Meters 3 Existing Financing None For Sale Or Rent For Sale Four Bedrooms 0 Gas Company Nipsco Gas Meters 3 Gross Monthly Income 2295 Gross Monthly Rent 2295 Lease Term Month To Month New Construction No One Bedrooms 3 Owner Pays Lawn MaintenanceSewerTrash CollectionWater Owner Real Estate License YN No Pet Restrictions YN Yes Planned Unit Dev YN No Property Sub Type Fourplex Proposed Financing CashConventional Reo YN No Sale Includes BuildingLandLease Sewer Public Tenant Pays Building InsuranceCoolingHeating Three Bedrooms 1 Township Wayne Two Bedrooms 0 Unit1 Unit Rent 595 Unit2 Unit Rent 500 Unit3 Unit Rent 500 Unit4 Unit Rent 700 Units Rented 3 Water Company Indiana American Water Co Water Utility Public Year Taxes Payable 2021

Listing courtesy of James Bausch of Re/Max Results- Warsaw.
© 2021 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 Anthony REALTORS.


© 2021 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 Anthony REALTORS. Data last updated: 2021-08-05T09:28:18.357.

 
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