Six-Unit Brick Multifamily
316 S Washington Street Warsaw, IN 46580
For Sale
$360,000
MULTI_FAMILY - Warsaw, IN
Property Size2,836 SF
Lot Size0.20 Acres
Price / SF$126.94
Days on Market66
Property Features for 316 S Washington Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
6
Bathrooms
6
Rooms
Bathroom 6, Bathroom 2, Bedroom 6, Bathroom 1, Basement, Bedroom 1, Bedroom 5, Bathroom 4, Bedroom 2, Bedroom 4, Bathroom 5, Bathroom 3, Bedroom 3
Parking
6
Standard status
Active
APN
43-11-08-300-247.000-032
Size
2,836 SF
Lot size
0.20 Acres
Taxes and HOA fees
Tax Year
2026
Tax Description
4-43-125 LOT 339 HOOD & BRITTON ADD AKA CITY OF WARSAW
Tax Annual Amount
3080
Utilities
Cooling system
Central Air
Building Details
Year built
1873
Floors in Building
2
Number of units
6
Flooring type
Vinyl, Carpet
Architectural style
Other
Listing Agency:
RE/MAX Results
(574) 269-6911
Listed By:
James Bausch · License #RB15000093
(574) 742-4531
Added: May 25
Changed: Jul 28
Last Checked: Jul 29 at 5:06PM
MLS# 202619931
Copyright © 2026 Kosciusko Board of Realtors MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 6-unit brick multifamily investment property includes five 1-bedroom, 1-bath units and one efficiency unit. Improvements completed over the last 18 months include updated paint and durable, easy-to-maintain LVP flooring, along with a new roof. The building’s configuration supports a mix of unit types for residential rental operations.
The property is located at 316 S Washington Street in Warsaw, Indiana, in Kosciusko County. Public remarks note convenience to Downtown Warsaw and nearby shopping, restaurants, parks, and other local amenities, offering tenants access to everyday necessities within the area.
For investors or operators seeking a smaller, low-maintenance brick asset, this building’s recent interior updates and exterior roof replacement are already in place, potentially reducing near-term capital concerns. In the listing materials, the property is described as having an attractive 12.94% CAP rate. The unit mix of predominantly 1-bedroom apartments plus an efficiency unit can also fit a range of tenant household needs for long-term rental occupancy.
The property is located at 316 S Washington Street in Warsaw, Indiana, in Kosciusko County. Public remarks note convenience to Downtown Warsaw and nearby shopping, restaurants, parks, and other local amenities, offering tenants access to everyday necessities within the area.
For investors or operators seeking a smaller, low-maintenance brick asset, this building’s recent interior updates and exterior roof replacement are already in place, potentially reducing near-term capital concerns. In the listing materials, the property is described as having an attractive 12.94% CAP rate. The unit mix of predominantly 1-bedroom apartments plus an efficiency unit can also fit a range of tenant household needs for long-term rental occupancy.
Key Highlights
- 6‑unit brick investment property
- Built in 1873
- Recent updates completed over the last 18 months, including new roof and updated paint
Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $40.8k | $14.40 |
| − Vacancy | −$1.7k | −$0.60 |
| EGI | $39.1k | $13.80 |
| − OpEx | −$17.6k | −$6.21 |
| NOI | $21.5k | $7.59 |
2,836 SF · lease $14.40/SF/yr · vacancy 4.20% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$307.4K
$269.0K – $358.6K
NOI $21,518 @ 7.0% cap · market cap 5.98%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$494.1K
$432.3K – $576.4K
NOI $34,585 @ 7.0% cap · market cap 9.61%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Apartment building - Six-unit brick multifamily with recent updates including new roof and LVP flooring, near downtown Warsaw.
Where is this apartment building located?
The property is located at 316 S Washington Street Warsaw, IN.
What is the asking price?
The asking price for this property is $360,000.
What are key features of this property?
This property features: 6‑unit brick investment property; Built in 1873; Recent updates completed over the last 18 months, including new roof and updated paint
