1508-1520 Carrol Street, East Chicago, IN 46312

$956,000
Property Type: Residential Income Bedrooms: 46 Baths: 34 Square Footage: 28,896 Lot Size (sq. ft.): 1,875,519,360 Status: Closed
Current Price: $956,000 List Date: 1/23/2023 Last Modified: 2/23/2024

Overview

Description

Attention investors! Two 17 unit brick apartment buildings with 2 additional parking lots east of the building TO BE SOLD AS 1 PARCEL. The building at 1512-1520 is 17- 1 bedroom,1 bath units. 1508-1510 Carroll St. has 12- 2 bedroom, 1 bath units and 5- 1 bedroom, 1 bath units, where tenants pay for their own gas & electric. There is a unit that has unused furnaces and air conditioners, which stay with the properties. Some units have been partially renovated and some have active pipe leaks and mold issues. Buildings are in need of extensive renovation, pipes froze and burst in 1512-20, resulting in most units having the water capped off. Building 1508 -10 has 2 tenants currently. Some units are locked with no access to them prior to an acceptable offer. Great potential to investors that have the ability to bring it up to habitable conditions. Excellent location, walking distance to the South Shore Station, and near major highways. Property to be sold as is where is.

Listing Details MLS# 524736

General Property Information

Number Of Units Total
34
Bedrooms Total
46
Bathrooms Full
34
Rooms Total
114
Bathrooms Total
34
Living Area
28896
Living Area Source
Assessor
Year Built
1965
Lot Size Units
Acres
Lot Size Acres
43056
Lot Size Square Feet
1875519360
Lot Size Dimensions
299*144
Basement YN
Yes
Bathrooms Half
0
Bathrooms Three Quarter
0
Garage Spaces
0
Carport Spaces
0
Parking Total
0

Property Features

Basement: Full Construction Materials: Brick Cooling: Individual Exterior Features: Storage Heating: Forced Air; Individual; Natural Gas Interior Features: Elevator Lease Type: Net Listing Terms: Cash Other Equipment: None Owner Pays: Electricity; Sewer; Water Parking Features: None Possession: Close Of Escrow Road Surface Type: Asphalt Tenant Pays: Electricity; Gas Utilities: Electricity Available; Natural Gas Available; Sewer Available Water Source: Public

Contract Information

Auction YN
No
Original List Price
650000
Listing Agreement
Exclusive Right To Sell
Occupant Type
Tenant

Location Tax and Legal

Street Number
1508-1520
Street Name
Carrol
Street Suffix
Street
County
Lake
State
IN
Postal Code
46312
Subdivision Name
ROXANA

Remarks and Miscellaneous

Public Remarks
Attention investors! Two 17 unit brick apartment buildings with 2 additional parking lots east of the building TO BE SOLD AS 1 PARCEL. The building at 1512-1520 is 17- 1 bedroom,1 bath units. 1508-1510 Carroll St. has 12- 2 bedroom, 1 bath units and 5- 1 bedroom, 1 bath units, where tenants pay for their own gas & electric. There is a unit that has unused furnaces and air conditioners, which stay with the properties. Some units have been partially renovated and some have active pipe leaks and mold issues. Buildings are in need of extensive renovation, pipes froze and burst in 1512-20, resulting in most units having the water capped off. Building 1508 -10 has 2 tenants currently. Some units are locked with no access to them prior to an acceptable offer. Great potential to investors that have the ability to bring it up to habitable conditions. Excellent location, walking distance to the South Shore Station, and near major highways. Property to be sold as is where is.

Status Change Information

Major Change Timestamp
2023-03-22T21:26:24Z
Major Change Type
Status Change
Status Change Timestamp
2023-03-22
Offer Acceptance Date
2023-02-08
Close Date
2023-03-22
Close Price
956000
Concessions
No
Buyer Financing
Cash

More Information

Exemption Information

Exemption YN
Y

Income and Expenses

Expense Year
2022
New Taxes Expense
15582
Electric Expense
0
Gross Income
0
Gross Scheduled Income
0
Insurance Expense
0
Maintenance Expense
0
Manager Expense
0
Net Operating Income
0
Other Expense
0
Professional Management Expense
0
Sewer Expense
0
Supplies Expense
0
Total Actual Rent
0
Trash Expense
0
Water Expense
0

Unit Details

Number Of One Bedroom Units
22
Number Of Two Bedroom Units
12

Unit 1

Unit Description
1 bedrooms
Unit Number
Yes
Identical Units
22
Square Feet
0
Rent
0

Unit 2

Unit Description
2 bedroom
Unit Number
2
Identical Units
12
# Of Rooms
2
Square Feet
0
Rent
0

Showing Requirements

Showing Instructions
Please read agent remarks in entirety

Historical Information

Public Historical Remarks
Array, Lease Type: Net

Location, Tax, and Legal

Tax Assessed Value
0
Tax Legal Description
Legal Description: RESUB. OF BLKS.2 & 3 ROXANA PARK 5TH ADD. L.5-9 BL.2 ALL L.10 BL.2
Parcel Number
450332355007000024
Township
North
Directions
Indianapolis Blvd to Carroll Street-west
Cross Street
White Oak Avenue

Basement

Full
Yes

Construction Materials

Brick
Yes

Cooling

Individual
Yes

Exterior Features

Storage
Yes

Heating

Forced Air
Yes
Individual
Yes
Natural Gas
Yes

Interior Features

Elevator
Yes

Listing Terms

Cash
Yes

Lock Box Information

Lock Box Serial Number
No

Other Equipment

None
Yes

Parking Features

None
Yes

Possession

Close Of Escrow
Yes

Road Surface Type

Asphalt
Yes

Utilities

Electricity Available
Yes
Natural Gas Available
Yes
Sewer Available
Yes

Water Source

Public
Yes

Auction

Minimum Opening Bid
0
Buyer Premium Amount
0

Lease Type

Net
Yes

Owner Pays

Electricity
Yes
Sewer
Yes
Water
Yes

Tenant Pays

Electricity
Yes
Gas
Yes
Listing Office: RE/MAX Realty Associates
Last Updated: February - 23 - 2024
This information is not verified for authenticity or accuracy and is not guaranteed and may not reflect all real estate activity in the market. Copyright 2024 Triangle MLS, Inc. All rights reserved. Information Not Guaranteed and Must Be Confirmed by End User. Site contains live data.
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