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523 E 8th Street

Michigan City, IN 46360
  • $6,020,500
  • STATUS: Active
  • ON SITE: 544 Days
  • MLS #: 518862
UPDATED: 63 min ago
$6,020,500
  • 0
    BEDS
  • 5.86
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
  • 44,333
    SQFT
  • $136
    $/SQFT
Neighborhood:
Type:
Commercial
Built:
1910
County:

School Ratings & Info

Listing provided by RE/MAX Lifestyles: .

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. Featuring 40 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 26 SF residences, 3 duplexes, 2 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. 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

Northwest Indiana REALTORS® Association Multiple Listing Service logo The content relating to real estate for sale and/or lease on this Web site comes in part from the Internet Data eXchange (“IDX”) program of the Northwest Indiana REALTORS® Association Multiple Listing Service (“NIRA MLS”). and is communicated verbatim, without change, as filed by its members. This information is being provided for the consumers’ personal, noncommercial use and may not be used for any other purpose other than to identify prospective properties consumers may be interested in purchasing or leasing.

The accuracy of all information, regardless of source, is deemed reliable but is not warranted, guaranteed, should be independently verified and may be subject to change without notice. Measurements are solely for the purpose of marketing, may not be exact, and should not be relied upon for loan, valuation, or other purposes. Featured properties may not be listed by the office/agent presenting this information.

NIRA MLS MAKES NO WARRANTY OF ANY KIND WITH REGARD TO LISTINGS PROVIDED THROUGH THE IDX PROGRAM INCLUDING, BUT NOT LIMITED TO, ANY IMPLIED WARRANTIES OF MERCHANTABILITY AND FITNESS FOR A PARTICULAR PURPOSE. NIRA MLS SHALL NOT BE LIABLE FOR ERRORS CONTAINED HEREIN OR FOR ANY DAMAGES IN CONNECTION WITH THE FURNISHING, PERFORMANCE, OR USE OF THESE LISTINGS.

Listings provided through the NIRA MLS IDX program are subject to the Federal Fair Housing Act and which Act makes it illegal to make or publish any advertisement that indicates any preference, limitation, or discrimination based on race, color, religion, sex, handicap, familial status, or national origin. NIRA MLS does not knowingly accept any listings that are in violation of the law. All persons are hereby informed that all dwellings included in the NIRA MLS IDX program are available on an equal opportunity basis. Copyright 2024 NIRA MLS - All rights reserved. 800 E 86th Avenue, Merrillville, IN 46410 USA. ALL RIGHTS RESERVED WORLDWIDE. No part of any listing provided through the NIRA MLS IDX program may be reproduced, adapted, translated, stored in a retrieval system, or transmitted in any form or by any means, electronic, mechanical, photocopying, recording, scanning or any information storage and retrieval system, or otherwise, without the prior written permission of NIRA MLS. The information contained herein including but not limited to all text, photographs, digital images, virtual tours, may be seeded and monitored for protection and tracking. If you believe any NIRA MLS listing contains material that infringes your copyrighted work, please Click Here to review our DMCA policy and learn how to submit a takedown request. Data last updated 2024-02-28T10:57:22.19.

MLS Grid logo Based on information submitted to the MLS GRID as of 2024-02-28T10:57:22.19 UTC. 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. The data relating to real estate on this Web site derive in part from the Greater Northwest Indiana Association of Realtors IDX program. Brokers make an effort to deliver accurate information, but buyers should independently verify any information on which they will rely in a transaction. All properties are subject to prior sale, change or withdrawal. Neither McCormick Real Estate nor any listing broker shall be responsible for any typographical errors, misinformation, or misprints, and they shall be held totally harmless from any damages arising from reliance upon this data. This data is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties they may be interested in purchasing. © 2024 Greater Northwest Indiana Association of Realtors.

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523 E 8th Street Michigan City, IN 46360

  • Price: $6,020,500
  • Status: Active
  • On Site: 544 Days
  • Updated: 63 min ago
  • MLS #: 518862
0
Beds
0
Baths
0
½ Baths
5.86
Acres
44,333
SQFT
$136
$/SQFT
1910
Built
Neighborhood:
Varies
County:
La Porte
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. Featuring 40 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 26 SF residences, 3 duplexes, 2 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. 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

Parking Other

Interior Features

Interior Features Elevator

Property Features

Auction YN No Heating Forced Air Listing Terms CashConventional Lot Size Dimensions IRR Parking Features Other Property Attached YN No Property Sub Type Mixed Use Township Michigan Utilities Electricity ConnectedNatural Gas AvailableNatural Gas ConnectedOtherSewer ConnectedWater Connected Zoning Description Residential

Listing information © 2024 NIRA MLS.
Listing courtesy of Matt Evans of RE/MAX Lifestyles: .

Northwest Indiana REALTORS® Association Multiple Listing Service logo The content relating to real estate for sale and/or lease on this Web site comes in part from the Internet Data eXchange (“IDX”) program of the Northwest Indiana REALTORS® Association Multiple Listing Service (“NIRA MLS”). and is communicated verbatim, without change, as filed by its members. This information is being provided for the consumers’ personal, noncommercial use and may not be used for any other purpose other than to identify prospective properties consumers may be interested in purchasing or leasing.

The accuracy of all information, regardless of source, is deemed reliable but is not warranted, guaranteed, should be independently verified and may be subject to change without notice. Measurements are solely for the purpose of marketing, may not be exact, and should not be relied upon for loan, valuation, or other purposes. Featured properties may not be listed by the office/agent presenting this information.

NIRA MLS MAKES NO WARRANTY OF ANY KIND WITH REGARD TO LISTINGS PROVIDED THROUGH THE IDX PROGRAM INCLUDING, BUT NOT LIMITED TO, ANY IMPLIED WARRANTIES OF MERCHANTABILITY AND FITNESS FOR A PARTICULAR PURPOSE. NIRA MLS SHALL NOT BE LIABLE FOR ERRORS CONTAINED HEREIN OR FOR ANY DAMAGES IN CONNECTION WITH THE FURNISHING, PERFORMANCE, OR USE OF THESE LISTINGS.

Listings provided through the NIRA MLS IDX program are subject to the Federal Fair Housing Act and which Act makes it illegal to make or publish any advertisement that indicates any preference, limitation, or discrimination based on race, color, religion, sex, handicap, familial status, or national origin. NIRA MLS does not knowingly accept any listings that are in violation of the law. All persons are hereby informed that all dwellings included in the NIRA MLS IDX program are available on an equal opportunity basis. Copyright 2024 NIRA MLS - All rights reserved. 800 E 86th Avenue, Merrillville, IN 46410 USA. ALL RIGHTS RESERVED WORLDWIDE. No part of any listing provided through the NIRA MLS IDX program may be reproduced, adapted, translated, stored in a retrieval system, or transmitted in any form or by any means, electronic, mechanical, photocopying, recording, scanning or any information storage and retrieval system, or otherwise, without the prior written permission of NIRA MLS. The information contained herein including but not limited to all text, photographs, digital images, virtual tours, may be seeded and monitored for protection and tracking. If you believe any NIRA MLS listing contains material that infringes your copyrighted work, please Click Here to review our DMCA policy and learn how to submit a takedown request. Data last updated 2024-02-28T10:57:22.19.

MLS Grid logo Based on information submitted to the MLS GRID as of 2024-02-28T10:57:22.19 UTC. 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. The data relating to real estate on this Web site derive in part from the Greater Northwest Indiana Association of Realtors IDX program. Brokers make an effort to deliver accurate information, but buyers should independently verify any information on which they will rely in a transaction. All properties are subject to prior sale, change or withdrawal. Neither McCormick Real Estate nor any listing broker shall be responsible for any typographical errors, misinformation, or misprints, and they shall be held totally harmless from any damages arising from reliance upon this data. This data is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties they may be interested in purchasing. © 2024 Greater Northwest Indiana Association of Realtors.

Digital Millennium Copyright Act
 
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Listing provided by RE/MAX Lifestyles: .