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Key Details
Sold Price $154,900
Property Type Multi-Family
Sub Type Sevenplex
Listing Status Sold
Purchase Type For Sale
Square Footage 2,082 sqft
Subdivision Berner Grove
MLS Listing ID 202408742
Sold Date 05/16/24
Style Two Story
Bedrooms 8
Full Baths 3
Abv Grd Liv Area 1,728
Total Fin. Sqft 2082
Year Built 1920
Tax Year 2023
Lot Size 5,662 Sqft
Property Description
This property offers a total of 6 income-producing units along with an office or storage space, providing a robust cash flow of over $2,000 per month. The unit mix includes 4 studio units, with 3 currently rented, and two 1-bedroom units, all of which are fully rented out. Income Potential: With a strong rental history and long-term tenants, this property presents a stable income stream for investors. Convenient Location: Situated in a convenient location, the property offers easy access to amenities and transportation, enhancing its appeal to tenants. Low Vacancy Rates: The current occupancy rate indicates high tenant satisfaction and suggests low turnover, reducing the risk of income loss. Investment Opportunity: This property represents an excellent investment opportunity for those seeking stable rental income. With a solid cash flow and a mix of unit types, it provides diversification and income stability.
Location
State IN
County St. Joseph County
Area St. Joseph County
Direction Logan to Mishawaka Ave
Rooms
Dining Room 0
Interior
Flooring Carpet
Appliance Building
Laundry , 0
Exterior
Amenities Available Other-See Remarks
Waterfront No
Building
Lot Description Irregular
Story 2
Structure Type Aluminum
New Construction No
Schools
Elementary Schools Nuner
Middle Schools Jefferson
High Schools Adams
School District South Bend Community School Corp.
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IDX information provided by the Indiana Regional MLS
Bought with Traci Parcell • McKinnies Realty, LLC Elkhart