1620-1748 E 34th Avenue, Hobart, IN 46342 (MLS# 423821)

1620-1748 E 34th Avenue, Hobart, IN 46342

$773,000

Property Type: Residential Income Bedrooms: 26 Baths: 21 Square Footage: 15,411 Lot Size (sq. ft.): 71,874 Status: Closed

Current Price: $773,000 List Date: 10/11/2017 Last Modified: 2/24/2024

Overview

Description

Amazing opportunity! This is your chance to own a whole apartment complex! 5 buildings in a row with 21 units. 4 buildings with 4 units and the last has 5 units. There are 16 one bedroom units which rent from $525-575 per month and 5 two-bedroom units which rent from $650-675. About half the tenants have been residents for 3 years or longer. All units have a range, refrigerator, and a/c provided by owner. Tenants pay for their own gas and electric. New windows in 1999 and all buildings had new roofs with a complete tear off in 2001. Don't wait, this one is a money maker! Multiple offers received. Highest and best offers due by October 19th at Noon.

Listing Details MLS# 423821

General Property Information

New Construction YN: No
Number Of Units Total: 21
Bedrooms Total: 26
Bathrooms Full: 21
Rooms Total: 68
Bathrooms Total: 21
Living Area: 15411
Living Area Source: Assessor
Year Built: 1970
Garage YN: No
Parking Total: 21
Lot Size Units: Acres
Lot Size Acres: 1.65
Lot Size Square Feet: 71874
Lot Size Dimensions: Irregular
Waterfront YN: No
Basement YN: No
Bathrooms Half: 0
Bathrooms Three Quarter: 0
Garage Spaces: 0
Carport Spaces: 0

Property Features

Appliances: Range; Refrigerator Construction Materials: Brick; Wood Siding Cooling: Wall/Window Unit(s) Flooring: Carpet; Vinyl Heating: Forced Air; Natural Gas Interior Features: Elevator Laundry Features: In Unit; Other Lease Type: Net Listing Terms: Cash; Conventional; Lease Option; Other Owner Pays: Sewer; Water Parking Features: Off Street; None Rent Includes: Trash Collection; Water; Other Road Surface Type: Asphalt Tenant Pays: Electricity; Gas Utilities: Cable Available; Electricity Available; Natural Gas Available; Sewer Available Water Source: Public

Contract Information

Auction YN: No
Original List Price: 750000
Lease Considered YN: Yes
Lease Term: Month To Month
Listing Agreement: Exclusive Right To Sell
Occupant Type: Tenant

Location Tax and Legal

Street Number: 1620-1748
Street Direction Prefix: E
Street Name: 34th
Street Suffix: Avenue
County: Lake
State: IN
Postal Code: 46342
Subdivision Name: None

Remarks and Miscellaneous

Public Remarks: Amazing opportunity! This is your chance to own a whole apartment complex! 5 buildings in a row with 21 units. 4 buildings with 4 units and the last has 5 units. There are 16 one bedroom units which rent from $525-575 per month and 5 two-bedroom units which rent from $650-675. About half the tenants have been residents for 3 years or longer. All units have a range, refrigerator, and a/c provided by owner. Tenants pay for their own gas and electric. New windows in 1999 and all buildings had new roofs with a complete tear off in 2001. Don't wait, this one is a money maker! Multiple offers received. Highest and best offers due by October 19th at Noon.

Status Change Information

Major Change Timestamp: 2017-12-29T17:53:24Z
Major Change Type: Status Change
Status Change Timestamp: 2017-12-29
Offer Acceptance Date: 2017-11-03
Close Date: 2017-12-29
Close Price: 773000
Buyer Financing: Other

More Information

Exemption Information

Exemption YN: Y

Income and Expenses

Expense Year: 2016
Gross Scheduled Income: 146660
Net Operating Income: 108832
New Taxes Expense: 19855
Sewer Expense: 7672
Total Actual Rent: 144660
Trash Expense: 2400
Water Expense: 7901
Electric Expense: 0
Gross Income: 0
Insurance Expense: 0
Maintenance Expense: 0
Manager Expense: 0
Other Expense: 0
Professional Management Expense: 0
Supplies Expense: 0

Unit Details

Number Of One Bedroom Units: 16
Number Of Two Bedroom Units: 5
Number Of Apartments: 21

Unit 1

Unit Description: 1 Bedrooms
Unit Number: Yes
Identical Units: 16
Square Feet: 726
Rent: 525575
# Of Rooms: Yes

Unit 2

Unit Description: 2 Bedrooms
Unit Number: 2
Identical Units: 5
Square Feet: 759
Rent: 650675
# Of Rooms: 2

Showing Requirements

Showing Instructions: Use showing assist

Historical Information

Public Historical Remarks: Array, Lease Type: Net

Location, Tax, and Legal

School District: River Forest
Tax Assessed Value: 0
Tax Legal Description: Legal Description: E. 137FT. PT. S2.E2.N2.N2.SW. S.20 T.36 R.7 .411AC. & 5 Buildings - see remarks
Parcel Number: 450920328017000020
Township: Hobart
Directions: Lake Park Ave to E. 34th Ave

Appliances

Range: Yes
Refrigerator: Yes

Construction Materials

Brick: Yes
Wood Siding: Yes

Cooling

Wall/Window Unit(s): Yes

Flooring

Carpet: Yes
Vinyl: Yes

Heating

Forced Air: Yes
Natural Gas: Yes

Interior Features

Elevator: Yes

Laundry Features

In Unit: Yes
Other: Yes

Listing Terms

Cash: Yes
Conventional: Yes
Lease Option: Yes
Other: Yes

Lock Box Information

Lock Box Serial Number: No

Parking Features

Off Street: Yes
None: Yes

Road Surface Type

Asphalt: Yes

Utilities

Cable Available: Yes
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

Sewer: Yes
Water: Yes

Rent Includes

Trash Collection: Yes
Water: Yes
Other: Yes

Tenant Pays

Electricity: Yes
Gas: Yes

Listing Office: BHHS Executive Realty

Last Updated: February - 24 - 2024

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