420 Middlebury St Elkhart, IN 46516

Property Details for 420 Middlebury St

Lot size

0.10 lot acres

Property size

1,292 SF

Property type

Commercial real estate

APN

20-06-04-362-011.000-012, 20-06-04-362-014.000-012, 20-06-04-364-009.000-012, 20-06-04-364-009.000-012, 20-06-09-130-012.000-012

Description

This exceptional investment opportunity presents a portfolio of five multifamily buildings totaling eleven units, strategically located in Elkhart, Indiana, at 420, 426, and 500 Middlebury Street, 748 Monroe Street, and 911 Princeton Street (zip code 46516). The buildings, constructed between 1880 and 1900, boast a combined square footage ranging from 1,292 to 3,078 square feet, situated on lots spanning 0.1 to 0.24 acres. The property features a two-story configuration and is classified as Class C. The asking price is $140,000, representing an attractive 8.00% cap rate. Current gross monthly rents approximate $7,000. While some units have undergone recent updates, potential buyers should note that showings are contingent upon accepted offers due to language barriers with current tenants. This portfolio offers a strong cash flow potential and is ideal for investors seeking to expand their holdings with a proven income stream. The property's APNs are: 20-06-04-362-011.000-012, 20-06-04-362-014.000-012, 20-06-04-364-009.000-012, 20-06-04-364-009.000-012, and 20-06-09-130-012.000-012. Offers should be contingent upon walkthroughs.