502 S Union Street Warsaw, IN 46580 Sold 2022-05-04

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(574) 268-1899
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Fourplex • 162Y Old

Sold for $172,500 Listed for $149,000

502 S Union Street

6 Bedrooms
4 Bathrooms
3656 Sq Ft
0.31 Acres

This property is not currently for sale or for rent.

Property Description

Fully occupied Four-unit apartment building in Warsaw with value-add potential. Rents are at market rates. 2 of the 4 tenants have been there longer than 2 years. Property is a C class property renting to tenants on a 2 of the 4 on a weekly basis, which increases rent since there are 4.33 weeks in a month. Utilities are included in rent, which makes it for an easy rent to the lower income bad credit market. Utilities (Nipsco) ARE separately metered, water is not. A section of the property has recently received a new metal roof. Proof of funds required with offers. The building is FULLY occupied, AND comes with additional cash flow via coin washer and dryer (Up to $300 a month which will pay the property tax bill, water bill and some!) Here's your chance to start your own business!! Sellers may consider land contract/seller financing/master lease offers with sizable down payment. Seller to offer 90 day training/transition support. You won't find a higher cap rate building anywhere, even with the property manager in place, take over management yourself and drive that cap rate even higher! Rates going up = Higher rental demand! Walkthroughs are Set for Monday April 18th. Starting 502 S Union at 3:00pm-3:30 with 519 W Winona directly afterwards starting at 3:45-4:30.

Directions

East on 30, South on 15(Detroit) West on 25(Winona) South on Union. Building on the West Side of the street across from Smith St

Map to 502 S Union Street, Warsaw, IN 46580

Property
MLS # 202210296
Status Sold
Property Type Investment
Property SubType Fourplex
Square Feet 3656 Sq Ft
New Construction No
Style Two Story
Type Fourplex
Basement Yes
Bedrooms 6
Bathrooms 4
Annual Taxes $2,400.00
Year Taxes Payable 2020
Year Built 1860
Virtual Tour propertypanorama.com »
Days on Market 23
Room Dimensions
Living Room 2 × 0 Level
Family Room 200 × 900 Level
Kitchen 240 × Level
4th Bedroom 1 × 1 Level
5th Bedroom 4 × 4 Level
Extra Room 1 × 1 Level
Bathroom Locations
Full Baths 6 Main
External Features
Construction Fourplex
Lot Size 13,370 sq ft
Acreage 0.31 Acres
Lot Dimensions 70x191
Fence None
Location
Area Kosciusko County
County Kosciusko
Subdivision Graves
Township Wayne
City Warsaw
State IN
Zip 46580
Schools
School District Warsaw Community
Elementary Washington
Middle School Edgewood
High School Warsaw
Financial
Assoc. Dues $0.00 Not Applicable

MLS# 202210296.
Listing Provided Courtesy of Tyler Glenn
Tiffany Group Real Estate Advisors LLC

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 Friday, August 19th, 2022 at 10:00 AM EDT.

Learn More About 502 S Union Street

Presented By
Brian Peterson Group
Brian Peterson Group
(574) 268-1899
Email
Select Agent to Contact

By clicking "Message Agent", you agree to be contacted by Brian Peterson about your request. Please see our Privacy Policy.