Active
422 S Union Street
Warsaw IN, 46580-4280
$370,000
$99.01 per sqft
Active
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
May 9, 2024
Updated
Map
422 S Union Street
Warsaw IN, 46580-4280
Interior Features
Total Stories
2
Bedrooms
8
Total 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
Exterior Features
Aluminum
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
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