6-Unit Brick Apartment
For Sale
$360,000
316 S Washington Street, Warsaw, IN 46580
INVESTMENT, Two Story, Warsaw, IN
Property Size2,836 SF
Lot Size0.20 Acres
Price / SF$126.94
Days on Market147
Property Features for 316 S Washington Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
6
Bathrooms
6
Full bathrooms
6
Rooms
Bathroom 3, Bathroom 4, Bathroom 1, Bedroom 2, Bathroom 2, Basement, Bedroom 6, Bathroom 6, Bedroom 1, Bedroom 3, Bathroom 5, Bedroom 4, Bedroom 5
Parking
6
Subdivision
Hood & Britton
Lot features
Corner, 0-2.9999
Elementary school
Washington
Middle school
Edgewood
High school
Warsaw
Elementary school district
Warsaw Community
Middle school district
Warsaw Community
High school district
Warsaw Community
Directions
Heading South on IN 15, turn right on E Winona Ave, turn right onto S Columbia St, Property is on the right.
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
Legal Description
4-43-125 LOT 339 HOOD & BRITTON ADD AKA CITY OF WARSAW
Utilities
Cooling system
Central Air
Building Details
Year built
1873
Floors in Building
2
Number of units
6
Flooring type
Carpet, Vinyl
Architectural style
Other
Listing Agency:
RE/MAX Results · RE/MAX International
(574) 269-6911
Listed By:
James Bausch
(574) 742-4531
Added: May 25
Changed: Oct 16
Last Checked: Oct 18 at 12:06PM
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.
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Investment Insights
Based on property information with market context.
This two-story brick apartment property contains six units across 2,836 square feet. The unit mix consists of five one-bedroom, one-bathroom apartments and one efficiency. Interior improvements completed over the past 18 months include paint and LVP flooring, and the building has a new roof. Flooring is listed as vinyl and carpet, and cooling is central air.
Built in 1873, the property occupies a 0.2-acre lot at 316 S Washington Street in Warsaw, Indiana.
Built in 1873, the property occupies a 0.2-acre lot at 316 S Washington Street in Warsaw, Indiana.
Key Highlights
- Six apartments: five one‑bedroom, one‑bathroom units and one efficiency
- 2,836 square feet on a 0.2‑acre lot
- Brick exterior and two‑story configuration
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$21,518
Cap Rate
5.98%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$430,360
$430.4K
Cap Rate 7%
$307,400
$307.4K
Cap Rate 9%
$239,089
$239.1K
Market Conditions
NOI Build-Up for 2,836 SF
Gross rent
$40.8K $14.40/SF
− Vacancy
−$1.7K −$0.60/SF
EGI
$39.1K $13.80/SF
− OpEx
−$17.6K −$6.21/SF
NOI
$21.5K $7.59/SF
Area
Kosciusko County, IN
Vacancy
4.20%
Lease Rate
$14.40 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$430,360
Cap Rate 7%
$307,400
Cap Rate 9%
$239,089
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.
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Property Analytics
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Current Use
Lease Details
6
Residential units
Location Intelligence
Trade Area within ½ mile
710
Businesses Nearby
Explore this area
Business Placement
Demographics for 46580, IN
22,381
Population
8,873
Households
2.5
Avg Household Size
38
Median Age
25%
College-Educated
88%
High-School Grad
71.1 sq mi
ZIP Area
315
Density / Sq Mi
$70,978
Median Household Income
$40,231
Median Earnings
$963
Median Rent
$175,700
Median Home Value
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Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Apartment building - Updated interiors include vinyl flooring, with central air serving the building.
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: Six apartments: five one‑bedroom, one‑bathroom units and one efficiency; 2,836 square feet on a 0.2‑acre lot; Brick exterior and two‑story configuration
