Skip To Content

324 E 10th Street

Michigan City, IN 46360
  • $8,200,000
  • STATUS: Active
  • ON SITE: 152 Days
  • MLS #: 518862
UPDATED: 22 min ago
$8,200,000
  • 0
    BEDS
  • 7.59
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
  • 70,044
    SQFT
  • $117
    $/SQFT
Neighborhood:
Type:
Commercial
Built:
1910
County:

School Ratings & Info

Description

Special opportunity for a single investor or investment group to get in on this fine collection of rental homes in Michigan City, plus a few in Laporte & Westville. Featuring 63 total rental units and 2 lots. This is of the emerging housing markets in Northwest Indiana with the South Shore NICTD double tracking project and transit oriented development already taking place in Michigan City. These 31 SF residences, 10 duplexes, 3 four-unit buildings + 2 lots have been assembled by over multiple generations, and proudly maintained and improved. Tremendous cash flow and potential equity value upside with a buy/hold/divest plan. Given their condition, they've historically been very easy to lease. Good cap rate 7.66. Most units have W&D hookup, tenants supply own W&D. Tenants responsible for all utilities, which are separated even in the multi units. Landlord cares for the grass and landscape in the Multis, SF tenants care for their own lawns. POF/banker letter required.

Monthly Payment Calculator

© 2023 Multiple Listing Service of the Greater Northwest Indiana Association of REALTORS®, Inc. All rights reserved. Information Deemed Reliable but Not Guaranteed. The data relating to real estate for sale on this website comes in part from the Internet Data Exchange Program of the Multiple Listing Service of the Greater Northwest Indiana Association of REALTORS®, Inc. Real estate listings held by brokerage firms other than Lisa Gaff Team | White Hat Realty Group are marked with the Broker Reciprocity℠ logo or the Broker Reciprocity℠ thumbnail logo (a little black house) and detailed information about them includes the name of the listing brokers. 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 last updated 2023-02-01T17:52:35.117.
www.lisagaff.com/homes/132667898
Print Image

324 E 10th Street Michigan City, IN 46360

  • Price: $8,200,000
  • Status: Active
  • On Site: 152 Days
  • Updated: 22 min ago
  • MLS #: 518862
0
Beds
0
Baths
0
½ Baths
7.59
Acres
70,044
SQFT
$117
$/SQFT
1910
Built
Neighborhood:
Varies
County:
Laporte
Area:
Michigan City
Property Description
Special opportunity for a single investor or investment group to get in on this fine collection of rental homes in Michigan City, plus a few in Laporte & Westville. Featuring 63 total rental units and 2 lots. This is of the emerging housing markets in Northwest Indiana with the South Shore NICTD double tracking project and transit oriented development already taking place in Michigan City. These 31 SF residences, 10 duplexes, 3 four-unit buildings + 2 lots have been assembled by over multiple generations, and proudly maintained and improved. Tremendous cash flow and potential equity value upside with a buy/hold/divest plan. Given their condition, they've historically been very easy to lease. Good cap rate 7.66. Most units have W&D hookup, tenants supply own W&D. Tenants responsible for all utilities, which are separated even in the multi units. Landlord cares for the grass and landscape in the Multis, SF tenants care for their own lawns. POF/banker letter required.
Exterior Features

Exterior Features Other Open Parking Spaces 0 Parking Other

Property Features

Electric Other Heating Forced Air Lot Size Dimensions Irr Parking Features Other Property Sub Type Other Real Estate Owned YN No Tax Annual Amount 0 Transaction Type Sale Zoning Description Resi

Listing information © 2023 Multiple Listing Service of the Greater Northwest Indiana Association of REALTORS®.
Listing courtesy of Matt Evans of Re/Max Lifestyles: .

© 2023 Multiple Listing Service of the Greater Northwest Indiana Association of REALTORS®, Inc. All rights reserved. Information Deemed Reliable but Not Guaranteed. The data relating to real estate for sale on this website comes in part from the Internet Data Exchange Program of the Multiple Listing Service of the Greater Northwest Indiana Association of REALTORS®, Inc. Real estate listings held by brokerage firms other than Lisa Gaff Team | White Hat Realty Group are marked with the Broker Reciprocity℠ logo or the Broker Reciprocity℠ thumbnail logo (a little black house) and detailed information about them includes the name of the listing brokers. 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 last updated 2023-02-01T17:52:35.117.
 
https://bt-photos.global.ssl.fastly.net/gniar/1280_boomver_2_518862-2.jpg https://bt-photos.global.ssl.fastly.net/gniar/1280_boomver_2_518862-2.jpg https://bt-photos.global.ssl.fastly.net/gniar/1280_boomver_2_518862-2.jpg
Logo
Lisa Gaff Team | White Hat Realty Group
,