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422 S Union Street

Warsaw IN, 46580-4280

$370,000


$99.01 per sqft

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8 Beds

5 Baths

3,737 sqft

Multi-family

Built in 1875

Courtesy of RE/MAX Results- Warsaw, James Bausch, Cell: 574-742-4531

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.

202405090

MLS ID

July 13, 2024

Updated

Map

422 S Union Street
Warsaw IN, 46580-4280

Interior Features

Total Stories

2


Bedrooms

8


Total Bathrooms

5


Full Bathrooms

5


Floor Description

Vinyl


Fireplace

No


Cooling

No


Cooling Description

None


Heating

Yes


Heating Description

Gas, Baseboard, Forced Air

Exterior/Building Features

Lot Size

0.38 Acres


Lot Features

Level, 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

133


Garage

No


View

No


Municipality

Wayne


Pool

No


Zoning

Graves

The Listing Broker’s offer of compensation is made only to IRMLS Participants.

IDX information provided by the Indiana Regional MLS. 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. Data is deemed reliable but is not guaranteed by the MLS. All properties are subject to prior sale, change, or withdrawal. Neither listing broker(s) nor The Cavender Group shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless.  

©2024 Indiana Regional MLS. All rights reserved.

Data last updated 2:13 PM UTC, 7/13/2024

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