Great investment opportunity! This eye-catching apartment building is a rare find. Excellent location between the IUSB campus and the Farmer's market. It is being offered at a 10% cap rate including management fees. This 10 unit building has six 1 bedroom units and four studio apartments. There is coin operated laundry machines available for tenant use. Two additional parcels located behind the building go along with the sale.
Off market
$737,100
1308 Mishawaka Ave, South Bend, IN 46615
10beds
6,048sqft
MultiFamily
Built in 1950
-- sqft lot
$737,100 Zestimate®
$122/sqft
$1,060 Estimated rent
What's special
Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 10
- Bathrooms: 10
- Full bathrooms: 10
Heating
- Gas
Cooling
- None
Appliances
- Included: Dryer, Range / Oven, Refrigerator, Washer
- Laundry: Washer/Dryer Hookups
Features
- Flooring: Hardwood
- Basement: Partial, Block
Interior area
- Total interior livable area: 6,048 sqft
- Finished area below ground: 0
Property
Parking
- Total spaces: 10
Features
- Exterior features: Brick
Lot
- Size: 0.33 Acres
- Features: Level, 0 to 2.9999 Acres
Details
- Parcel number: 710918126002000026
Construction
Type & style
- Home type: MultiFamily
Condition
- Year built: 1950
Utilities & green energy
- Sewer: City
- Water: City
Community & neighborhood
Location
- Region: South Bend
HOA & financial
Other financial information
- Total actual rent: 73320
Other
Other facts
- Flooring: Wood
- Appliances: Range/Oven, Refrigerator, Dryer, Washer
- HeatingYN: true
- Basement: Partial, Block
- LeaseTerm: 12 Months
- OwnerPays: Sewer, Trash Collection, Water, Taxes, Heating
- ConstructionMaterials: Brick
- NumberOfUnitsTotal: 10
- LotFeatures: Level, 0 to 2.9999 Acres
- Heating: Hot Water
- NumberOfBuildings: 1
- FarmLandAreaUnits: Square Feet
- TrashExpense: 1000
- NumberOfUnitsLeased: 10
- MaintenanceExpense: 1200
- TenantPays: Electricity
- ParkingFeatures: Off Street
- BelowGradeFinishedArea: 0
- FoundationDetails: Basement
- WaterSource: City
- LaundryFeatures: Washer/Dryer Hookups
- PetsAllowed: Pet Restrictions
- Sewer: City
- MlsStatus: Active
- GrossIncome: 6110
- InsuranceExpense: 2296
- OtherExpense: 7332
- TotalActualRent: 73320
- ElectricExpense: 1794.9
- FuelExpense: 2902.24
- NetOperatingIncome: 50333.97
- WaterSewerExpense: 2903.89