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$3,675,000

000 Confidential Ave. Michigan City, IN 46360

  • 214,667 sq. Ft
EXPLORE TUCKER LUXURY

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Property Description for 706 E 11th Street Michigan City, IN 46360

Pleased to present to qualified investors this 32- Single Family Homes and 3 duplex portfolio scattered throughout the Michigan City, Indiana area. The majority of the units are located on two sides of the city. The investment portfolio consists of units varying from one bedroom to four bedrooms.The portfolio consistently operates at a 95% occupancy. The next investor / operator has potential to add significant instant equity because units have such low current rents.Most of the units were constructed in the 1950' with the exception of a few. The average price of comparable units are at a price point of $115,000-120,000 per unit.This portfolio has strong potential for revenue and growth coupled with the limited supply of housing in the area these factors add tremendous value in terms of both cash flow and home price appreciation for the next Buyer. This rental portfolio is poised to outperform current numbers due, to the fact leases are expiring and rent increases are beginning to occur. This opportunity offers the next Buyer a chance to take advantage of high occupancies and increase rents accordingly.This investment offering is a huge opportunity to build on the currently under- priced units and take advantage of natural rent growth post stabilization, offering the next investor an opportunity to grow rents and take advantage of home price appreciation for several years to come.Current rents are well below market rents, offering the next buyer a significant opportunity to grow revenue, optimize expenses, and drive the NOI margin.

Address:000 Confidential Ave.Michigan City IN 46360
Status:Active
on site: 15 days
Price:$3,675,000
Bathrooms:0
Sq. Feet:214,667
Year Built:1875
Lot Size:0.13
County: La Porte
Township: Michigan
MLS #:803265
Property Type:Multi Family

Lot Dimensions:IRR
Directions:all homes vary
Total Sq. Ft. :214,667
Basement:Yes

Loan Price
$20,702
Price And Interest $19,171/month
Property Tax $0/month
MTG INS $0/month
HOME INS $1,531/month
Price
$3,675,000
Down Payment %
0 %
Down Payment
$0
Property Taxes
$0/month
Home Owner Insurance
$18,372 / year
HOA Dues
$0 / Month
Interest Rate
4.75 %
Mortgage Ins.
$0 / year
YEARS

Tax Year:2022
Mandatory HOA Fee:$

Subdivision: Burrs Add
Zip Code:46360

Total Sq. Ft.:214,667
Interior Features:Eat-in Kitchen
Appliances:None
Exterior Features:None
Heat:Forced Air
EXPLORE TUCKER LUXURY
Jeff Safrin, REALTOR®/Broker, F. C. Tucker Company
Jeff Safrin
Additional Phone (219) 309-9930
F.C. Tucker Company

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Schools in 706 E 11th Street Michigan City, IN  46360


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Listing provided courtesy of Javina Bell-Lyles with McColly Real Estate from NIRA as distributed by MLS GRID

Based on information submitted to the MLS GRID as of 05/07/2024 12:00 AM. All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.



Michigan City Market Report

84
Avg. DOM
$198.6
Avg. $ / Sq.Ft.
$ 288,500
Med. List Price

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