1007 Elizabeth Drive, 1, Valparaiso, IN 46383
$755,000
Property Type:
Commercial Sale
Square Footage:
7,800
Lot Size (sq. ft.):
6,273
Status:
Closed
Current Price:
$755,000
List Date:
4/16/2024
Last Modified:
5/31/2024
Overview
Description
Listing Details MLS# 802237
General Property Information
- Number Of Units Total
- 5
- Living Area
- 7800
- Building Area Source
- Assessor
- Year Built
- 1966
- Parking Total
- 15
- Lot Size Acres
- 0.144
- Lot Size Square Feet
- 6272.64
- Lot Size Source
- Assessor
- Lot Size Dimensions
- 150x26
- Basement YN
- Yes
Property Features
Appliances:
Dryer; Free-Standing Gas Range; Refrigerator; Washer
Basement:
Concrete; Finished
Building Features:
Other
Construction Materials:
Stone
Cooling:
Central Air
Current Use:
Multi-Family
Electric:
Separate Meters
Exterior Features:
Private Yard
Fencing:
Back Yard; Partial; Privacy
Flooring:
Carpet; Ceramic Tile; Concrete; Vinyl
Foundation Details:
Block
Heating:
Forced Air; Natural Gas; Separate Meters
Interior Features:
Ceiling Fan(s)
Laundry Features:
In Basement; In Unit
Listing Terms:
Cash; Other
Owner Pays:
Grounds Care; Management; Snow Removal; Taxes
Parking Features:
Additional Parking; Parking Lot; Paved
Possession:
Negotiable; Subject To Tenant Rights
Possible Use:
Multi-Family; Residential
Rail Availability:
None
Road Frontage Type:
City Street
Roof:
Shingle
Sewer:
Public Sewer
Special Listing Conditions:
Standard
Tenant Pays:
Electricity; Sewer; Water
Utilities:
Electricity Available; Electricity Connected; Natural Gas Available; Natural Gas Connected; Sewer Available; Water Available
Water Source:
Public
Showing Requirements:
Call Listing Agent; Email Listing Agent; No Lockbox; Text Listing Agent
Contract Information
- Auction YN
- No
- Original List Price
- 792000
- Property Sub Type
- Multi Family
- Property Attached YN
- No
- Listing Agreement
- Exclusive Right To Sell
- Common Interest
- None
- Owner Name
- Owner of Record
- Occupant Type
- Tenant
Location Tax and Legal
- Street Number
- 1007
- Street Name
- Elizabeth
- Street Suffix
- Drive
- Unit Number
- Yes
- County
- Porter
- State
- IN
- Postal Code
- 46383
- Subdivision Name
- Willowbrook Condos
Remarks and Miscellaneous
- Public Remarks
- Rare opportunity!! This 5-unit townhouse package in the wonderful town of Valparaiso, IN is the investment opportunity you’ve been looking for. Each unit is occupied, and the current gross income is $75,000 annually. Each townhome has 2 large bedrooms,1 and a half bathrooms, a finished basement, and have been tastefully updated. This property has been well maintained and cared for by professionals over the past several years, which is an ideal situation for post-acquisition. Almost no utility bills! Tenants pay for their own gas, electric, water, and sewer utility bill, while the landlord pays for trash. Each townhome can be separately parceled out, which adds another interesting option for the future. This investment property currently sits at a true 6.0% cap rate, and projects to be a 7.3+% after a few simple moves. Reach out for detailed data, and to schedule a viewing of the property now!
Status Change Information
- Major Change Timestamp
- 2024-05-31T19:22:28Z
- Major Change Type
- Status Change
- Status Change Timestamp
- 2024-05-31
- Offer Acceptance Date
- 2024-04-28
- Close Date
- 2024-05-31
- Close Price
- 755000
- Concessions
- Yes
- Buyer Financing
- Other
More Information
Exemption Information
- Exemption YN
- No
Income and Expenses
- Cap Rate
- 5.97
- Gross Income
- 75000
- Insurance Expense
- 2270
- Maintenance Expense
- 1710
- Manager Expense
- 3500
- Net Operating Income
- 47278
- Other Expense
- 2170
- Trash Expense
- 2208
Showing Requirements
- Showing Instructions
- Showings on April 23rd from 12pm-2pm ONLY
- Call Listing Agent
- Yes
- Email Listing Agent
- Yes
- No Lockbox
- Yes
- Text Listing Agent
- Yes
Location, Tax, and Legal
- Tax Annual Amount
- 1972.96
- Tax Year
- 2023
- Tax Legal Description
- WILLOWBROOK CONDOS UNIT A
- Parcel Number
- 64-10-19-102-001.000-004
- Township
- Center
- Directions
- Calumet Ave South to Evans Ave. Right onto Elizabeth
Appliances
- Dryer
- Yes
- Free-Standing Gas Range
- Yes
- Refrigerator
- Yes
- Washer
- Yes
Basement
- Concrete
- Yes
- Finished
- Yes
Construction Materials
- Stone
- Yes
Cooling
- Central Air
- Yes
Electric
- Separate Meters
- Yes
Exterior Features
- Private Yard
- Yes
Fencing
- Back Yard
- Yes
- Partial
- Yes
- Privacy
- Yes
Flooring
- Carpet
- Yes
- Ceramic Tile
- Yes
- Concrete
- Yes
- Vinyl
- Yes
Foundation Details
- Block
- Yes
Heating
- Forced Air
- Yes
- Natural Gas
- Yes
- Separate Meters
- Yes
Interior Features
- Ceiling Fan(s)
- Yes
Laundry Features
- In Basement
- Yes
- In Unit
- Yes
Listing Terms
- Cash
- Yes
- Other
- Yes
Parking Features
- Additional Parking
- Yes
- Parking Lot
- Yes
- Paved
- Yes
Possession
- Negotiable
- Yes
- Subject To Tenant Rights
- Yes
Road Frontage Type
- City Street
- Yes
Roof
- Shingle
- Yes
Sewer
- Public Sewer
- Yes
Special Listing Conditions
- Standard
- Yes
Utilities
- Electricity Available
- Yes
- Electricity Connected
- Yes
- Natural Gas Available
- Yes
- Natural Gas Connected
- Yes
- Sewer Available
- Yes
- Water Available
- Yes
Water Source
- Public
- Yes
Owner Pays
- Grounds Care
- Yes
- Management
- Yes
- Snow Removal
- Yes
- Taxes
- Yes
Tenant Pays
- Electricity
- Yes
- Sewer
- Yes
- Water
- Yes
Current Use
- Multi-Family
- Yes
Possible Use
- Multi-Family
- Yes
- Residential
- Yes
Building Features
- Other
- Yes
Rail Availability
- None
- Yes
Documents
OM ›
Listing Office:
Ellsbury Group
Last Updated: May - 31 - 2024
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