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418 S Union Street
Warsaw IN, 46580-4279
$335,000
$96.43 per sqft
Cont-AccptngBackupOffers
6 Beds
5 Baths
3,474 sqft
Multi-family
Built in 1860
Courtesy of RE/MAX Results- Warsaw, James Bausch, Cell: 574-742-4531
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.
202405092
MLSⓇ ID
May 9, 2024
Updated
Map
418 S Union Street
Warsaw IN, 46580-4279
Interior Features
Total Stories
2
Bedrooms
6
Total Bathrooms
5
Full Bathrooms
5
Floor Description
Laminate
Fireplace
No
Cooling
No
Cooling Description
None
Heating
Yes
Heating Description
Gas, Baseboard, Forced Air
Exterior/Building Features
Lot Size
0.35 Acres
Exterior Features
Brick
Lot Features
0-29999
Sewer
City
School Information
School District
Warsaw Community
High School
Warsaw
Elementary School
Washington
Other Property Details
Area Name
Kosciusko County
Days on Market
22
Garage
No
View
No
Municipality
Wayne
Pool
No
Zoning
Graves
Buyer Agency Compensation
2%
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Data last updated 8:41 AM UTC, 5/9/2024