422 S UNION ST
WARSAW, IN 46580
$370,000
8 Beds
5 Baths
3,737 Sq Ft
Status Active Under Contract
MLS# 202405090
An enticing investment opportunity awaits with this rejuvenated five-unit that boasts a lucrative Cap Rate of 12.45% and an impressive Cash on Cash Return of nearly 21%, even factoring for vacancy, property management, and CapEx expenses. Comprising of a variety of sized apartments, this property caters to a diverse range of tenants, with one bedroom, two bedrooms, and a possible three bedroom apartment. Unit B is undergoing a complete remodel and will be finished in similar condition to the other updated units by time of closing unless otherwise negotiated. All units, except “B”, are occupied, ensuring immediate cash flow. Recently installed coin op laundry machines increase the revenue– which is not even included in the provided financials. This property presents an excellent opportunity for investors seeking stable income, solid returns, and long-term growth potential. Schedule a showing today and seize the opportunity to own this five-unit investment property– OR take advantage of the 14-unit, 3 property portfolio for $960,000, with a 12.55% CAP rate and returns exceeding 20%. See MLS #202405089.
Details for 422 S UNION ST
Built in 1875
$99 / Sq Ft
8 parking spaces
None
Gas, Baseboard, Forced Air
94 Days on website
0.38 acres lot
Price per square foot and days on website are not provided values and are calculated by RE/MAX.
James Bausch, 574-742-4531
RE/MAX Results- Warsaw, 574-269-6911
11:53am UTC- 5/23/2024
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Area Information for 422 S UNION ST
