FOR SALE0.35 ACRES
418 S Union St
Warsaw, IN 46580
- 6 Beds
- 5 Baths
- 3,474 sqft (on 0.35 acres)
- 6 Beds
- 5 Baths
- 3,474 sqft (on 0.35 acres)
6 Beds
5 Baths
3,474 sqft
(on 0.35 acres)
Local Information
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Commute Destination
Description
Seize the chance to elevate your investment portfolio with this five-unit property boasting an impressive 12.45% CAP rate. This updated apartment building promises lucrative returns, long-term growth potential, and most importantly immediate cash flow, as all units are leased. The majority of the units have been refreshed and updated ensuring tenant satisfaction and maximizing rental appeal. Unit configurations vary, from a refreshed efficiency in Unit A to a spacious 1 bedroom (or a pass through 2 bedroom) in Units B & C. Unit D presents a large 2 bedroom (possible 3 bedroom) while Unit E has recently undergone extensive remodeling, featuring new paint, flooring, and a refreshed kitchen and bath. Explore additional revenue opportunities by incorporating coin-operated laundry facilities in the lobby. Even after considering vacancy, property management, and CapEx, investors can secure an impressive 19.6% cash on cash return, assuming traditional financing. For those seeking a broader investment strategy, this property is also available as part of a 14-unit, 3-property portfolio, priced at $960,000. with a remarkable 12.55% CAP rate and returns exceeding 20%. See MLS #202405089. Don't miss out on this extraordinary opportunity to capitalize on strong returns and a thriving rental market. Schedule a viewing today and take the next step towards securing your financial future.
Home Highlights
Parking
8 Parking Spaces
Outdoor
No Info
A/C
Heating only
HOA
No HOA Fee
Price/Sqft
No Info
Listed
68 days ago
Home Details for 418 S Union St
Active Status |
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MLS Status: Active Under Contract |
Interior Features |
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Interior Details Basement: Crawl Space,Partial,Unfinished,Block |
Beds & Baths Number of Bedrooms: 6Number of Bathrooms: 5Number of Bathrooms (full): 5 |
Dimensions and Layout Living Area: 3474 Square Feet |
Heating & Cooling Heating: Natural Gas,Baseboard,Forced AirNo CoolingAir Conditioning: NoneHas HeatingHeating Fuel: Natural Gas |
Windows, Doors, Floors & Walls Flooring: Laminate |
Levels, Entrance, & Accessibility Stories: 2Levels: TwoFloors: Laminate |
Exterior Features |
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Exterior Home Features Other Structures: NoneFoundation: Basement |
Parking & Garage Parking Spaces: 8Parking: Off Street Parking |
Frontage Not on Waterfront |
Water & Sewer Sewer: City |
Finished Area Finished Area (above surface): 3474 Square Feet |
Days on Market |
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Days on Market: 68 |
Property Information |
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Year Built Year Built: 1860 |
Property Type / Style Property Type: Residential IncomeProperty Subtype: Fiveplex |
Building Construction Materials: BrickNot a New ConstructionDoes Not Include Home Warranty |
Property Information Included in Sale: Building, LandParcel Number: 431107200754.000032 |
Price & Status |
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Price List Price: $335,000 |
Media |
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Location |
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Direction & Address City: WarsawCommunity: Graves |
School Information Elementary School: WashingtonElementary School District: Warsaw CommunityJr High / Middle School: EdgewoodJr High / Middle School District: Warsaw CommunityHigh School: WarsawHigh School District: Warsaw Community |
Agent Information |
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Listing Agent Listing ID: 202405092 |
Building |
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Building Area Building Area: 4360 Square Feet |
Lot Information |
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Lot Area: 0.35 Acres |
Business |
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Expense Tenant Pays: None |
Rental |
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Lease Term: Month To Month, 12 MonthsOwner Pays: Electricity, Heating, Sewer, Trash Collection, Water |
Miscellaneous |
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BasementMls Number: 202405092Attribution Contact: Cell: 574-742-4531 |
Last check for updates: about 19 hours ago
Listing courtesy of James Bausch, (574) 742-4531
RE/MAX Results- Warsaw
Source: IRMLS, MLS#202405092
Price History for 418 S Union St
Date | Price | Event | Source |
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02/19/2024 | $335,000 | Listed For Sale | IRMLS #202405092 |
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Property Taxes and Assessment
Year | 2023 |
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Tax | $2,793 |
Assessment | $149,700 |
Home facts updated by county records
Comparable Sales for 418 S Union St
Address | Distance | Property Type | Sold Price | Sold Date | Bed | Bath | Sqft |
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0.65 | Multi-Family Home | $195,000 | 02/21/24 | 5 | 3 | 3,246 | |
0.81 | Multi-Family Home | $185,000 | 02/28/24 | 5 | 2 | 2,288 | |
1.50 | Multi-Family Home | $305,000 | 05/26/23 | 7 | 6 | 4,006 | |
1.56 | Multi-Family Home | $430,000 | 01/05/24 | 8 | 5 | 4,358 | |
1.34 | Multi-Family Home | $105,000 | 11/30/23 | 1 | 2 | 1,830 | |
2.22 | Multi-Family Home | $310,000 | 11/06/23 | 6 | 4 | 2,640 | |
5.19 | Multi-Family Home | $700,000 | 06/26/23 | 6 | 5 | 5,243 |
What Locals Say about Warsaw
- Grace G.
- Resident
- 3y ago
"I walk my dogs every day, overall pretty dog friendly neighborhood. However some people have their dogs off leash which I don't like, as that is triggering for my dogs. "
- Sleepingwithsirens812
- Resident
- 4y ago
"Very diverse and welcoming of all colors, shapes, and sizes. School is also great. Would definitely recommend "
- Liz S.
- Resident
- 4y ago
"Schools are Great! Lakes are Great! Hunting is Great! Fishing is Amazing! Everything about Warsaw is amazing!"
- Randi
- Resident
- 4y ago
"I don’t know bout it but I think it sucks here. Did hear schools r good. But I don’t wanna stat here "
- Ashley.meulink
- Resident
- 4y ago
"Our neighborhood is fairly quiet and near walking paths. Neighbors are caring but not nosy and it’s an extremely pleasant place to live. We’ve been here four years and are only moving due to work."
- Ashley.meulink
- Resident
- 4y ago
"I live five minutes from work. I can walk if I want, or bike. It’s great and a delightful community. Love Warsaw!"
- Scott C.
- Resident
- 5y ago
"My commute to work is short. Everything is easy to access in town. It takes me mere minutes to make it to work for me and also for my wife. "
- Scott C.
- Resident
- 5y ago
"There are many good schools in the area with great teaching staffs. Plenty of parks to take kids to, that have numerous outings year round. There are kid friendly things to do down in the village in Winona lake. The fireworks down at Winona lake are a great activity for the family in July. The Christmas lights at center lake in December are a great place to take a family and wonderful environment to take pictures as a family. "
- Scott C.
- Resident
- 5y ago
"Family friendly area. Good schools and great teaching staff. Beautiful scenery with lakes and woods. Excellent trails to enjoy and shopping down at the village. "
- Ataylor
- Resident
- 5y ago
"We have free music concerts every summer, all summer long. We have a fall parade supporting the high school, team sports, and other extracurricular activities. This is only a few special things about our community."
- Kelsiestollar
- Resident
- 5y ago
"People are friendly and usually abide by speed limits to ensure the safety of children. It's a nice area to walk your dogs or ride your bike. "
- Oxana V.
- Visitor
- 5y ago
"drink and smoke less.. watch out for kids.. drive slow. nice people around.. need to have more sidewalks. "
- Tony D.
- Resident
- 5y ago
"I have lived here my whole life and it’s very cozy. There’s a lot to do like go out to nice restaurants, bowling , walk the trails in Winona, and go see a movie. "
- Kyle A.
- Prev. Resident
- 5y ago
"I used to live in warsaw and as time goes by it continues to be a great town to live in and raise a family "
- Crystalmarsillett
- Resident
- 6y ago
"I bought the house I grew up in, so I know lots of my neighbors. My kids and I take cookies door to door every Spring and everyone is very nice. "
- krindevore
- Resident
- 6y ago
"I’ve lived in this neighborhood for 33 years. I’ve in 3 houses on one street. I have made life long friends here. We vacation together, we play together and I wouldn’t change a thing. It’s been great!"
- Randy
- 13y ago
"Shadow Lakes is the nicest community we could find in Kosciusko county and Warsaw. The neighborhood has 2 spring fed lakes and several ponds, all stocked. Sidewalks are 4 feet wide, streets are easy to walk around and the neighbors are great. Common areas are well kept. The neighborhood is filled with beautiful homes, and only about a 10 minute drive to downtown Warsaw."
LGBTQ Local Legal Protections
LGBTQ Local Legal Protections
James Bausch, RE/MAX Results- Warsaw
IDX information is provided exclusively for personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but not guaranteed.
Offer of compensation is made only to participants of the Indiana Regional Multiple Listing Service, LLC (IRMLS).
Offer of compensation is made only to participants of the Indiana Regional Multiple Listing Service, LLC (IRMLS).
418 S Union St, Warsaw, IN 46580 is a 6 bedroom, 5 bathroom, 3,474 sqft multi-family built in 1860. This property is currently available for sale and was listed by IRMLS on Feb 19, 2024. The MLS # for this home is MLS# 202405092.