For Sale
$1,092,000

1509 10Th StMichigan City, IN 46360

7-Unit Turnkey Investment Opportunity

Overview

Added:
Dec 11, 2024
Days on market:
124
This exceptional investment opportunity presents a turnkey portfolio of seven single-family rental homes and one vacant lot, totaling 8,569 square feet on a 1.42-acre lot in Michigan City, Indiana. Located at 1509 W 10th St, this collection offers a compelling 9.10% cap rate. The property boasts nine buildings, providing a diversified investment strategy. All seven units are currently occupied, with tenants responsible for all utilities. While laundry machines are excluded from the sale, most kitchen appliances are included. This portfolio benefits from Michigan City's revitalization, including shoreline redevelopment and the South Shore double-tracking project, driving significant investment and interest in the area. This presents a strong potential for future appreciation. The property is offered at $1,092,000. Due to tenant privacy, only qualified buyers with proof of funds and a signed non-disclosure agreement will receive a detailed property list and rent roll. This is a rare chance to acquire a well-performing, established rental portfolio in a rapidly growing market. Don't miss this opportunity to capitalize on the thriving Michigan City real estate market.

Highlights

  • $1,092,000 asking price.
  • Multifamily property with 7 units in a Single Family Rental Portfolio.
  • 8,569 square feet on a 1.42-acre lot.
  • 9.10% cap rate.
  • Located at 1509 W 10th St, Michigan City, IN 46360.
  • Nine buildings total.

Property Details for 1509 10Th St

Property type
Residential income homes
Square Feet
8,569 SF
Buildings
9
Lot Size (sq. ft)
61,855 SF
Units
7

Location Insight

City
Michigan City
County
LaPorte
State
Indiana
Latitude
41.70737392839
Longitude
-86.917482210354
1509 10Th St, Michigan City, Indiana

FAQs

What type of property is this?
Residential income home - 7-Unit Turnkey Investment Opportunity
Where is the residential income home located?
The property is located at 1509 10Th St Michigan City, IN.
What is the asking price?
The asking price for this property is $1,092,000.
What are key features of this property?
This property features: $1,092,000 asking price.; Multifamily property with 7 units in a Single Family Rental Portfolio.; 8,569 square feet on a 1.42-acre lot.
How can I contact the broker?
We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.
How do I access a private listing?
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1509 10Th St
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