Waterfront Multifamily Resort
4983 E Indiana Beach Rd, Monticello, IN 47960
55-unit waterfront multifamily asset near Indiana Beach.
Type:Multifamily
- Added:
- Feb 19, 2026
- Days on Market:
- 86
- Last Refresh:
- Mar 17 at 1:16 pm
Property Features for 4983 E Indiana Beach Rd
General Information
- Standard status
- Active
- Property subtype
- Multifamily
Building Details
- Year Built
- 2025
Listing agent Lane Moser License #MI 6501433695
Listing office Ellsbury Group
Listing date Feb 19, 2026
Source Crexi
Displayed information is deemed reliable but is not guaranteed and should be independently verified.
All listing content including descriptions, pricing, images are the copyrighted material of Ellsbury Group
HighLights
- Waterfront property on Lake Shafer adjacent to Indiana Beach, offering strong seasonal tourism and recreational demand.
- Significant recent capital improvements, including ground‑up construction of 38 units and complete renovation of 17 units, minimizing deferred maintenance.
- In‑place income of $47,000 per month with 80% occupancy, providing immediate cash flow and a stabilized investment.
- Short‑term rental (STR) optionality provides potential for higher yields, supported by flexible unit layouts and strong tourism demand.
- Dock expansion potential with approvals in place to increase from 12 to 36 docks, creating additional revenue streams.
- Seller financing available for qualified buyers.
Overview
Chiafos Rental Resort is a 55-unit waterfront multifamily asset located immediately outside the entrance to Indiana Beach Amusement & Water Park in Monticello, Indiana. The property is currently operating at approximately 80% occupancy and generating $47,000 per month in gross rental income under a multifamily-style leasing model. The asset offers waterfront real estate, newly constructed product, in-place income, dock revenue expansion, and short-term rental optionality. The unit mix includes 20 two-story 2BR / 1BA units, 18 single-story 2BR / 1BA units, and 17 one-bedroom units with full kitchens. All units include full kitchens, supporting traditional multifamily tenancy, workforce housing, extended-stay occupancy, and short-term rental conversion. Significant recent capital investment has materially reduced deferred maintenance risk, including ground-up construction of 38 units, complete renovation of 17 units, new siding, roofing, porches, new kitchens and bathrooms, updated flooring and exterior finishes, and site and infrastructure upgrades. The property has direct frontage on Lake Shafer, 12 completed boat docks, and approvals in place for expansion up to 36 docks, plus a 40’ x 60’ maintenance pole barn with restroom facilities. Located directly adjacent to Indiana Beach and positioned on Lake Shafer, the property benefits from strong seasonal tourism traffic, lake-based recreational demand, and a diversified employment base supporting year-round occupancy.
Property Profile
Insight Report
Location Intelligence
Current Use by Public Records
Resorts
Location Insight
- Map
- Local Demand
- City
- Monticello
- County
- White
- State
- Indiana
- Longitude
- -86.7749945
- Latitude
- 40.7918158
Nearby Similar for Sale
FAQs
What type of property is this?
Apartment building - 55-unit waterfront multifamily asset near Indiana Beach.
Where is this apartment building located?
The property is located at 4983 E Indiana Beach Rd Monticello, IN.
What is the asking price?
The asking price for this property is $4,500,000.
What are key features of this property?
This property features: Waterfront property on Lake Shafer adjacent to Indiana Beach, offering strong seasonal tourism and recreational demand.; Significant recent capital improvements, including **ground‑up construction of 38 units and complete renovation of 17 units**, minimizing deferred maintenance.; In‑place income of $47,000 per month with 80% occupancy, providing immediate cash flow and a stabilized investment.
