Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Fully Leased Sixplex Investment Title is generated by Realmo AI

    208 E Van Buren Street, Columbia City, IN 46725

    View on Map
    Claim this Listing
    For Sale
    $229,900

    Sixplex, Other - Columbia City, IN

    Property size:
    3,754 SF
    Lot size:
    0.26 Acres
    Price / SF:
    $61/SF
    Added:
    Feb 23, 2026
    Days on Market:
    102
    Last Refresh:
    Jun 5 at 5:06 pm

    Property Features for 208 E Van Buren Street

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Zoning
    Central Business
    Bedrooms
    6
    Bathrooms
    6
    Rooms
    Bathroom 1, Bathroom 2, Bathroom 3, Bathroom 4, Bathroom 5, Bedroom 1, Bedroom 2, Bedroom 3, Bedroom 4, Bedroom 5
    Parking features
    Off Street
    Patio and Porch features
    Porch
    EntryLevel
    Main,Upper
    Exterior features
    Basement, Ceiling Fan, Off Street Parking, Storage, Countertops-laminate, Crown Molding, Porch Open, Storm Doors, Water Heater Gas, Sump Pump, None, Shed
    Appliances
    Range
    Standard status
    Active
    APN
    92-06-11-500-412.003-004
    Size
    3,754 SF
    Lot size
    0.26 Acres

    Taxes and HOA fees

    Expense value
    420
    Expense
    Other

    Utilities

    Heating system
    Baseboard, Electric (Heating), Natural Gas, Wall Furnace

    Building Details

    Floors in Building
    2
    Number of units
    6
    Flooring type
    Carpet, Laminate, Vinyl
    Roof type
    Other, Shingle
    Architectural style
    Other
    Additional Structures
    Packing Shed, Shed(s), Storage

    We can help!

    Listing Contact
    Gregory Fahl

    Listing agent Gregory Fahl License #RB14005470

    Listing office Orizon Real Estate, Inc. 518 Garland Ave., Columbia City, IN

    Listing date Feb 23, 2026

    MLS# 202605728 Listing URL

    Copyright © 2026 Upstate Alliance of REALTORS® Multiple Listing Service, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Fully occupied 6‑plex in Columbia City with all units as 1‑bedroom apartments (4 ground floor, 2 upstairs)
    • Set on a large 75' x 150' lot with 6+ off‑street parking spots on site
    • Rents reported: five units at $575/month and unit 210 1/2 at $600/month
    • Utilities metering: 6 electric meters, 4 gas meters, and 1 water meter; tenants pay gas and electric
    • Landlord pays water, sewer, and trash, reported at about $380/month per owner‑water/sewer/trash
    • Exterior features include basement, open porch, storm doors, and storage/shed; shingle roof

    Overview

    This fully occupied sixplex features six one-bedroom units configured with four apartments on the ground level and two upstairs units. The site sits on a large 75' by 150' lot and provides about six or more parking spaces for tenants. Utility setup includes six electric meters, four gas meters, and one water meter, with tenants responsible for gas and electric while the landlord covers water, sewer, and trash.

    Located in Columbia City with the property described as close to downtown, the asset benefits from convenient day-to-day access. The offering is zoned Central Business, supporting a variety of urban-oriented residential income uses within the provided zoning designation.

    For buyers seeking a straightforward multifamily hold, this property presents a stabilized income profile with some long-term tenants already in place. Rents are described as very affordable with upside potential, including a month-to-month outlook for several units. The combination of an efficient unit mix and existing operating structure—where tenants pay select utilities—may appeal to investors looking to manage expenses while positioning for improved rent performance over time.
    Property Profile Location Intelligence

    Current Use by Public Records

    Apartment buildings

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Daycare Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Columbia City
    County
    Whitley
    State
    Indiana
    Longitude
    -85.486384
    Latitude
    41.156902

    Nearby Similar for Sale

    • $440,000

      Two-Story Office and Gym Building

      Multi-tenant office/showroom building with private suites and an on-site gym, centrally located for professional use.
      215 E Van Buren Street, Columbia City, IN 46725
      View Details
    • $1,090,000
      5,000 SF

      Profitable Restaurant Investment Opportunity

      Fully leased restaurant property with high visibility and income potential.
      5104 S 800 E, Columbia City, IN
      View Details
    • $349,000
      4,312 SF

      Columbia City Sixplex Investment Opportunity

      Six-unit multifamily property with proven rental history on 1.21 acres.
      4865 W US 30 Highway, Columbia City, IN 46725-8100
      View Details
    • $1,735,000
      2,567 SF

      Retail Space Near US-30

      Retail space for lease near US-30 in Columbia City.
      539-541 N Line St, Columbia City, IN
      View Details
    • $137,500
      2,142 SF

      Columbia City Triplex Opportunity

      Triplex with three units, ideal for savvy investors.
      220 E Van Buren Street, Columbia City, IN 46725-2100
      View Details
    • $284,900

      Remodeled Mixed-Use Commercial Building

      Queen Anne-style building with updated interiors in downtown Columbia City.
      126 N Main Street, Columbia City, IN 46725-2134
      View Details
    • $6,421,666
      53,500 SF

      Office/Warehouse Building in Park 30

      Office and warehouse space on 4.42 acres in Columbia City.
      4447 E Park 30 Dr | Columbia City, IN 46725
      View Details
    • $1,057,500
      7,920 SF

      Former Grocery and Gas Station

      7,920 SF commercial property on 4.72 acres in Columbia City.
      5418 S State Road 109, Columbia City, IN
      View Details
    • $1,625,000
      22,185 SF

      ALDI Leased Investment Opportunity

      Retail property with long-term lease in a dense retail corridor.
      551 North Line Street, Columbia City, IN
      View Details
    • $825,000
      8,255 SF

      Columbia City Office Space Available

      8,255 SF office space in the heart of Columbia City.
      119 W Market St, Columbia City, IN
      View Details
    • $1,999,000
      74,139 SF

      Commercial/Industrial Opportunity in Columbia City

      Versatile commercial property suitable for showroom, warehouse, or light industrial.
      665 W Connexion Way, Columbia City, IN 46725
      View Details
    • $2,750,000
      30,000 SF

      New Industrial Facility in Columbia

      New construction industrial facility with customizable space, available Summer 2024.
      1035 Rogers Drive, Columbia City, IN
      View Details

    FAQs

    What type of property is this?
    Apartment building - Well-maintained fully occupied six-unit property offers stable income with potential for rent growth.
    Where is this apartment building located?
    The property is located at 208 E Van Buren Street Columbia City, IN.
    What is the asking price?
    The asking price for this property is $229,900.
    What are key features of this property?
    This property features: Fully occupied 6‑plex in Columbia City with all units as 1‑bedroom apartments (4 ground floor, 2 upstairs); Set on a large 75' x 150' lot with 6+ off‑street parking spots on site; Rents reported: five units at $575/month and unit 210 1/2 at $600/month
    (260) 609-2503
    We can help!
    Listing Contact
    Gregory Fahl
    Real Estate License ID: RB14005470
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    208 E Van Buren Street, Columbia City, IN 46725
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!