Multi-Family for Sale
Catylist Listing ID: 30804682
Property Subtypes: Mixed Use, Other
Number of Units: 12 Units
Building Size (RSF): 11,463 SF
Gross Building Area: See Agent
Sale Price: $783,500
Unit Price: $65,291.67 Per Unit
In Opportunity Zone? Yes
Property Use Type: Investment
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 1/31/2023

Overview / Comments

This multi-family investment property with below market rents is now
available for sale. The single-story, mainly brick apartment building contains
twelve (12) total units, consisting of six (6), 1-Bedroom, one (1) Studio unit,
and five (5) 2-Bedroom units on a 2.36-acre parcel. Four(4) of the units have
been recently updated. The Property features a rebuilt boiler, newer roof, and
20 brand new 10’x20’ storage units. The building is 100% leased at this time
and does have a waiting list for new tenants. Nice view of the County Park
and open land. City water, sewer and trash. Room to build 30 more similar storage units.

Additional Details

Nearest MSA: Chicago-Naperville-Elgin
County: Starke
Tax ID/APN: 75-02-24-404-060.000-016
Site Description: Corner of Indiana Ave and S Starke St. Approximately 2 miles east of U.S. Highway 35 and about a half mile North of U.S Highway 30. The Conrail line between Chicago and Fort Wayne runs through the town.

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 935 3,231 5,213
Median Age: 35.49 40.4 40.3
Households: 347 1,216 1,953


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