For Sale
$3,775,000

601 Walton AveMichigan City, IN 46360

38 Units, 8.26% Cap Rate, High Occupancy

Overview

Added:
Dec 11, 2024
Days on market:
124
This exceptional investment opportunity presents a portfolio of 35 single-family rental buildings comprising 38 units located at 601 Walton Ave, Michigan City, Indiana, 46360. The portfolio is currently operating at 100% occupancy, generating a substantial net operating income (NOI) of $312,000, resulting in an attractive 8.26% capitalization rate. Priced at $3,775,000, this represents a price per unit of $99,342.11. The property is classified as Class B and is considered a stabilized investment. The portfolio benefits from existing management for a monthly fee of $1500. Michigan City is experiencing significant redevelopment, including shoreline projects and the South Shore double tracking project, attracting substantial investment and promising continued growth. This presents a compelling opportunity for investors seeking strong returns and built-in equity in a dynamic market. Financial details are available upon request. The sale is offered as a For Sale By Owner transaction.

Highlights

  • Existing management team in place for $1,500/month.

Property Details for 601 Walton Ave

Property type
Residential income homes
Class
B
Buildings
35
Units
38

Location Insight

City
Michigan City
County
LaPorte
State
Indiana
Latitude
41.7038726
Longitude
-86.8680549
601 Walton Ave, Michigan City, Indiana

FAQs

What type of property is this?
Residential income home - 38 Units, 8.26% Cap Rate, High Occupancy
Where is the residential income home located?
The property is located at 601 Walton Ave Michigan City, IN.
What is the asking price?
The asking price for this property is $3,775,000.
What are key features of this property?
This property features: Existing management team in place for $1,500/month.; ;
How can I contact the broker?
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601 Walton Ave
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