INVESTMENT
$ 128,500.00
- Post Updated:
2020-03-10 05:00:39 - MLS #:
202005520 - Status:
Pending - Type:
Triplex - Year built:
1916 - Area:
3193 sq ft - Lot Dimensions:
50 x 132
Description
Updated Triplex with Cash Flow! Great investment opportunity in Mishawaka. This building has been beautifully updated and is ready for its new owner to start raking in the cash. This building consists of 2 One bedroom units and 1 Two bedroom unit. It is individually metered for electric so tenants pay their own electric bill. This building is attractive and features many updates. The roof and vinyl siding are newer, new exterior doors have been installed and two of the units have been completely turned and updated. Even with managment fees included this building cash flows well and has a cap rate at almost 11%.
View on map / Neighborhood
- Township: Penn
- Directions to Property: From Lincolnway West head South onto Smith st. Property is on the SW corner of Smith and third.
Schools
- School District: School City of Mishawaka
- Elementary: Lasalle
- Middle School: John Young
- High School: Mishawaka
Rooms & Units Description
- Bedrooms: 4
- Total # Full Baths: 3
- Bathrooms: 3
- # Ttl Rooms Below Grade: 1
- # Above Grade Bedrooms: 4
- Number of Buildings: 1
- Number of Units: 3
- Num. of Units Rented: 3
- Num. of 1 Bedrooms: 2
- Outbuilding: None
- Num. of 2 Bedrooms: 1
- Unit 1-Unit Rent $: 700
- Unit 2-Unit Rent $: 600
- Unit 3-Unit Rent $: 550
Property Details
- Lot Number: 12
- LOT DESCRIPTION: Corner,0-2.9999
- Stories: 1.5
- Total Finished SqFt: 1961
- Below Grade Unfin. SqFt: 1232
- Approx. Lot Size SqFt: 6599
- Above Grade Finished SqFt: 1961
- Total Below Grade SqFt: 1232
- Price per Total Finished SQFT: 65.53
- Sale/Rent/Auction: For Sale
- Approx. Lot Size Acres: 0.1515
- Subdivision: Adam Bakers
- Style: One and Half Story
- New Construction: No
- Area: St. Joseph County
- Parcel# ID: 71-09-16-159-013.000-023
- Age: 104
- Planned Unit Dev. Y/N: No
- Auction Y/N: No
- SALE INCLUDES: Building,Land,Lease
- LEASE TERM: 1 Year
- Unbranded Virtual Tour: https://www.propertypanorama.com/instaview/irmls/202005520
Property Features
- Pool Y/N: No
- Platted Y/N: Yes
- Waterfront Y/N: No
- FLOORING: Carpet,Vinyl
- ROOF MATERIAL: Shingle
- AMENITIES: Basement,Countertops-Laminate
- COOLING: None
- HEATING/FUEL: Hot Water
- EXTERIOR: Vinyl
- Sewer: City
- Water Utility: City
- Basement Y/N: Yes
- BASEMENT/FOUNDATION: Full Basement,Unfinished
- BASEMENT MATERIAL: Brick
- # of Refrigerators: 3
- # of Ranges/Ovens: 3
- # of Parking Spaces: 3
- Pet Restrictions Y/N: Yes
Financials
- Assoc. Dues Frequency: Not Applicable
- Year Taxes Payable: 2018
- Annual Insurance Expense: 976
- Annual Gross Rent $: 22800
- Annual Water/Sewer Exp.: 1000
- Annual Fuel Expense: 1900
- Annual Electric Expense: 239
- Gross Monthly Rent: 1900
- Gross Monthly Income: 1900
- Annual Property Tax: 2105
- Annual Misc.: 2280
- Annual Net Income: 14050
- Annual Maint. Expense: 250
Courtesy of
- Listing Office: RE/MAX Oak Crest – Elkhart
Disclaimer
IDX information provided by the Indiana Regional MLS. IDX information is provided exclusively for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data is deemed reliable but is not guaranteed accurate by the MLS.
Listing information last updated Monday, September 14th, 2020 at 5:00 AM UTC