1529 Sheffield Avenue, Dyer, IN 46311 (MLS# 807061)

1529 Sheffield Avenue, Dyer, IN 46311

$750,000

Property Type: Residential Income Bedrooms: 10 Baths: 10 Lot Size (sq. ft.): 15,507 Status: Closed

Current Price: $750,000 List Date: 7/18/2024 Last Modified: 10/02/2024

Overview

Description

Discover an exceptional investment opportunity with this fully rented 5-unit apartment building located in one of the most sought-after areas in town. This property offers a perfect blend of convenience and comfort, ensuring strong rental demand and steady income. Each unit features 2 spacious bedrooms and 1 1/2 bathrooms, appealing to a wide range of tenants. Situated in a prime location, this building benefits from easy access to public transportation, top-rated schools, shopping centers, dining options, and entertainment venues. Basement provides potential for future development or additional rental income, offering a blank canvas for your vision. The building is well-maintained, ensuring minimal upkeep for the new owner. Each unit includes all appliances and is completely turn key. Whether you're a seasoned investor or looking to start your real estate portfolio, this property promises excellent returns and long-term value. This is a rare opportunity to acquire a fully occupied apa ... (Read more)

Listing Details MLS# 807061

General Property Information

New Construction YN: No
Number Of Units Total: 5
Bedrooms Total: 10
Bathrooms Full: 5
Bathrooms Half: 5
Rooms Total: 35
Bathrooms Total: 10
Above Grade Finished Area: 6155
Below Grade Unfinished Area: 3077
Building Area Total: 9232
Living Area Source: Assessor
Year Built: 1973
Garage YN: No
Parking Total: 10
Accessibility Features YN: No
Lot Size Area: 15507
Lot Size Units: Square Feet
Lot Size Acres: 0.356
Lot Size Square Feet: 15507
Lot Size Source: Assessor
Lot Size Dimensions: 107x145
Lot Dimensions Source: Assessor
Association YN: No
Waterfront YN: No
Basement YN: Yes
Fireplace YN: No
Senior Community YN: No
Bathrooms Three Quarter: 0
Below Grade Finished Area: 0
Above Grade Unfinished Area: 0
Carport Spaces: 0

Property Features

Appliances: Dishwasher; Dryer; Gas Range; Microwave; Refrigerator; Washer Basement: Full Community Features: None Cooling: Central Air Exterior Features: Rain Gutters Fencing: None Flooring: Carpet; Ceramic Tile; Laminate Foundation Details: Block Heating: Forced Air; Natural Gas Interior Features: Ceiling Fan(s); Laminate Counters Laundry Features: Gas Dryer Hookup; In Basement; In Unit; Washer Hookup Levels: 2-Sty Listing Terms: Cash; Conventional Lot Features: Front Yard; Landscaped; Level; Near Public Transit; Paved; Rectangular Lot Other Structures: None Owner Pays: Grounds Care; Insurance; Repairs; Snow Removal; Taxes; Trash Collection Parking Features: Alley Access; Asphalt; Assigned; On Site; Parking Lot; Paved; Shared Driveway Patio And Porch Features: Patio Pets Allowed: Call Pool Features: None Possession: Subject To Tenant Rights Rent Includes: Gardener; Management; Trash Collection Road Frontage Type: City Street Road Surface Type: Asphalt Roof: Asphalt Security Features: Fire Alarm Sewer: Public Sewer Special Listing Conditions: Standard Tenant Pays: Cable TV; Electricity; Gas; Pest Control; Telephone; Water Utilities: Cable Connected; Electricity Connected; Natural Gas Connected; Phone Connected; Sewer Connected; Water Connected; Underground Utilities View: Other Water Source: Public Window Features: Screens Showing Requirements: 24 Hour Notice; Restricted Hours; Showing Service

Contract Information

Auction YN: No
Original List Price: 950000
Lease Considered YN: No
Property Sub Type: Apartment
Listing Agreement: Exclusive Right To Sell
Listing Service: Full Service
Seller to consider offering concessions: Yes
Owner Name: 1529 Sheffield LLC
Occupant Type: Tenant

Location Tax and Legal

Street Number: 1529
Street Name: Sheffield
Street Suffix: Avenue
County: Lake
State: IN
Postal Code: 46311
Subdivision Name: Petsas Add 01

Remarks and Miscellaneous

Public Remarks: Discover an exceptional investment opportunity with this fully rented 5-unit apartment building located in one of the most sought-after areas in town. This property offers a perfect blend of convenience and comfort, ensuring strong rental demand and steady income. Each unit features 2 spacious bedrooms and 1 1/2 bathrooms, appealing to a wide range of tenants. Situated in a prime location, this building benefits from easy access to public transportation, top-rated schools, shopping centers, dining options, and entertainment venues. Basement provides potential for future development or additional rental income, offering a blank canvas for your vision. The building is well-maintained, ensuring minimal upkeep for the new owner. Each unit includes all appliances and is completely turn key. Whether you're a seasoned investor or looking to start your real estate portfolio, this property promises excellent returns and long-term value. This is a rare opportunity to acquire a fully occupied apartment building in a high-demand area. **Contact us today** to schedule a private viewing and explore the potential of this prime investment property. *Listing photos and floor plans have some minor artistic manipulation for presentation*

Status Change Information

Major Change Timestamp: 2024-10-02T17:30:49Z
Major Change Type: Status Change
Price Change Timestamp: 2024-08-16T13:45:08Z
Status Change Timestamp: 2024-10-02
Offer Acceptance Date: 2024-08-26
Close Date: 2024-10-02
Close Price: 750000
Concessions: No
Buyer Financing: Other

More Information

Exemption Information

Exemption YN: No

Income and Expenses

Gross Income: 84000
Insurance Expense: 6200
New Taxes Expense: 11539.5
Total Actual Rent: 84000
Cable TV Expense: 0
Electric Expense: 0
Fuel Expense: 0
Licenses Expense: 0
Manager Expense: 0
Pool Expense: 0
Professional Management Expense: 0
Sewer Expense: 0
Supplies Expense: 0
Water Expense: 0

Public Survey Details

Public Survey Township: St. John

Unit Details

Number Of Two Bedroom Units: 5
Number Of Apartments: 5
Number Of Stores: 2

Unit 1

Unit Description: 1529
Unit Number: 1529
Square Feet: 1772
Occupied YN: Yes
Rent: 1700
# Of Rooms: 7
# Of Bedrooms: 2
# Of Bathrooms: 2
# Of Full Baths: Yes
# Of Half Baths: Yes

Unit 2

Unit Description: 1531
Unit Number: 1531
Square Feet: 1772
Occupied YN: Yes
Rent: 1200
# Of Rooms: 7
# Of Bedrooms: 2
# Of Bathrooms: 2
# Of Full Baths: Yes
# Of Half Baths: Yes

Unit 3

Unit Description: 1533
Unit Number: 1533
Square Feet: 1772
Occupied YN: Yes
Rent: 1200
# Of Rooms: 7
# Of Bedrooms: 2
# Of Bathrooms: 2
# Of Full Baths: Yes
# Of Half Baths: Yes

Unit 4

Unit Description: 1535
Unit Number: 1535
Square Feet: 1772
Occupied YN: Yes
Rent: 1700
# Of Rooms: 7
# Of Bedrooms: 2
# Of Bathrooms: 2
# Of Full Baths: Yes
# Of Half Baths: Yes

Unit 5

Unit Description: 1537
Unit Number: 1537
Square Feet: 1772
Occupied YN: Yes
Rent: 1200
# Of Rooms: 7
# Of Bedrooms: 2
# Of Bathrooms: 2
# Of Full Baths: Yes
# Of Half Baths: Yes

Showing Requirements

Showing Instructions: Tenant will give access with minimum 24 hour notice but 48 hour notice is appreciated.
24 Hour Notice: Yes
Restricted Hours: Yes
Showing Service: Yes

Location, Tax, and Legal

School District: Lake Central
Tax Annual Amount: 8466
Tax Year: 2022
Tax Legal Description: PETSAS' FIRST ADD. TO DYER LOT 1
Parcel Number: 45-10-12-251-003.000-034
Additional Parcels YN: No
Zoning Description: Residential
Township: St. John
Directions: Calumet Ave South to Columbia Ave. 5 Unit is on the East side of Sheffield Ave
Cross Street: 215th
Census Tract: 428.03

Appliances

Dishwasher: Yes
Dryer: Yes
Gas Range: Yes
Microwave: Yes
Refrigerator: Yes
Washer: Yes

Basement

Full: Yes

Community Features

None: Yes

Cooling

Central Air: Yes

Exterior Features

Rain Gutters: Yes

Fencing

None: Yes

Flooring

Carpet: Yes
Ceramic Tile: Yes
Laminate: Yes

Foundation Details

Block: Yes

Heating

Forced Air: Yes
Natural Gas: Yes

Interior Features

Ceiling Fan(s): Yes
Laminate Counters: Yes

Laundry Features

Gas Dryer Hookup: Yes
In Basement: Yes
In Unit: Yes
Washer Hookup: Yes

Levels

2-Sty: Yes

Listing Terms

Cash: Yes
Conventional: Yes

Lot Features

Front Yard: Yes
Landscaped: Yes
Level: Yes
Near Public Transit: Yes
Paved: Yes
Rectangular Lot: Yes

Other Structures

None: Yes

Parking Features

Alley Access: Yes
Asphalt: Yes
Assigned: Yes
On Site: Yes
Parking Lot: Yes
Paved: Yes
Shared Driveway: Yes

Patio And Porch Features

Patio: Yes

Pool Features

None: Yes

Possession

Subject To Tenant Rights: Yes

Road Frontage Type

City Street: Yes

Road Surface Type

Asphalt: Yes

Roof

Asphalt: Yes

Security Features

Fire Alarm: Yes

Sewer

Public Sewer: Yes

Special Listing Conditions

Standard: Yes

Utilities

Cable Connected: Yes
Electricity Connected: Yes
Natural Gas Connected: Yes
Phone Connected: Yes
Sewer Connected: Yes
Water Connected: Yes
Underground Utilities: Yes

View

Other: Yes

Water Source

Public: Yes

Window Features

Screens: Yes

Owner Pays

Grounds Care: Yes
Insurance: Yes
Repairs: Yes
Snow Removal: Yes
Taxes: Yes
Trash Collection: Yes

Pets Allowed

Call: Yes

Rent Includes

Gardener: Yes
Management: Yes
Trash Collection: Yes

Tenant Pays

Cable TV: Yes
Electricity: Yes
Gas: Yes
Pest Control: Yes
Telephone: Yes
Water: Yes

Listing Office: Realty Executives Premier

Last Updated: October - 02 - 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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