$5600 cash + 8 Unit Assets 2 Bldgs/ Lots
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$5600 cash + 8 Unit Assets 2 Bldgs/ Lots
2 Multifamily Properties Offered at $399,950 in Nappanee, IN
Investment Highlights
- Positive Cashflow
- Potential for additional units
- Long term Tenants
Executive Summary
2 building in desirable neighborhood in the North East section of Nappanee. One quaplex sits on a dead end street. Both properties within the portfolio include an additional lot. 5 of 8 units rents. One unit needs new bathroom, and some TLC to rent, other two need development completed, bones in place.
Data Room Click Here to Access
Taxes & Operating Expenses (Actual - 2023) |
Annual |
|---|---|
| Gross Rental Income |
$3,200
|
| Other Income |
-
|
| Vacancy Loss |
-
|
| Effective Gross Income |
$3,200
|
| Taxes |
-
|
| Operating Expenses |
-
|
| Total Expenses |
$700
|
| Net Operating Income |
$2,500
|
Taxes & Operating Expenses (Actual - 2023)
| Gross Rental Income | |
|---|---|
| Annual | $3,200 |
| Other Income | |
|---|---|
| Annual | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Effective Gross Income | |
|---|---|
| Annual | $3,200 |
| Taxes | |
|---|---|
| Annual | - |
| Operating Expenses | |
|---|---|
| Annual | - |
| Total Expenses | |
|---|---|
| Annual | $700 |
| Net Operating Income | |
|---|---|
| Annual | $2,500 |
Property Facts
| Price | $399,950 | Status | Active |
| Price / SF | $29.86 / SF | Number of Properties | 2 |
| Sale Conditions | Bulk/Portfolio Sale | Individually For Sale | 0 |
| Cap Rate | 1.13% | Total Building Size | 13,395 SF |
| Sale Type | Investment or Owner User | Total Land Area | 0.31 AC |
| Price | $399,950 |
| Price / SF | $29.86 / SF |
| Sale Conditions | Bulk/Portfolio Sale |
| Cap Rate | 1.13% |
| Sale Type | Investment or Owner User |
| Status | Active |
| Number of Properties | 2 |
| Individually For Sale | 0 |
| Total Building Size | 13,395 SF |
| Total Land Area | 0.31 AC |
Properties
| Property Name / Address | Property Type | Size | Year Built | Individual Price |
|---|---|---|---|---|
| 751 N Elm St, Nappanee, IN 46550 | Multifamily | 6,556 SF | 1950 | - |
| 206 Broad Ave, Nappanee, IN 46550 | Multifamily | 6,839 SF | 1949 | - |
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Presented by
Surety Property Management
$5600 cash + 8 Unit Assets 2 Bldgs/ Lots
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