228 W Barker Avenue, Michigan City, IN 46360
$625,000
Property Type:
Residential Income
Bedrooms:
8
Baths:
10
Square Footage:
8,362
Lot Size (sq. ft.):
9,500
Status:
Closed
Current Price:
$625,000
List Date:
9/30/2023
Last Modified:
5/15/2024
Overview
Description
Listing Details MLS# 539568
General Property Information
- New Construction YN
- No
- Number Of Units Total
- 7
- Bedrooms Total
- 8
- Bathrooms Full
- 9
- Bathrooms Half
- Yes
- Rooms Total
- 29
- Bathrooms Total
- 10
- Above Grade Finished Area
- 5554
- Living Area
- 8362
- Living Area Source
- Assessor
- Year Built
- 1910
- Garage YN
- Yes
- Garage Spaces
- 2
- Parking Total
- 13
- Lot Size Acres
- 0.2181
- Lot Size Square Feet
- 9500
- Lot Size Source
- Estimated
- Lot Size Dimensions
- 95x100
- Basement YN
- Yes
- Bathrooms Three Quarter
- 0
- Below Grade Finished Area
- 0
- Carport Spaces
- 0
Property Features
Basement:
Full; Partial
Construction Materials:
Aluminum Siding; Brick
Flooring:
Carpet; Linoleum; Tile
Interior Features:
Elevator
Laundry Features:
Common Area
Lease Type:
Net
Owner Pays:
Sewer; Water
Parking Features:
Attached; Off Street
Possession:
Close Of Escrow
Road Surface Type:
Concrete
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
- 699999
- Property Sub Type
- Apartment
- Listing Agreement
- Exclusive Right To Sell
- Occupant Type
- Tenant
Location Tax and Legal
- Street Number
- 228
- Street Direction Prefix
- W
- Street Name
- Barker
- Street Suffix
- Avenue
- County
- La Porte
- State
- IN
- Postal Code
- 46360
- Subdivision Name
- Vails Adds
Remarks and Miscellaneous
- Public Remarks
- This charming 7 unit apartment building in Michigan City is the perfect investment opportunity for those looking to add to their real estate portfolio. The spacious & well-maintained apts are great for long or short term occupants, making this property an ideal option for those interested in operating a rental business.Each apartment ensures clean, updated & comfortable living spaces that are sure to impress even the most discerning tenants. The unique addition of a storefront further adds value to this already desirable investment property. Additionally, the building has common laundry, an outdoor patio area, a 2 car garage & reserved parking providing additional amenities that are highly attractive to renters.The location is highly advantageous, with its close proximity to the South Shore line providing easy access to Chicago.Do not miss this opportunity to own and reap the rewards of owning an exceptional piece of real estate near the beautiful Lake Michigan beaches! Call TODAY!
Status Change Information
- Major Change Timestamp
- 2024-05-15T17:52:25Z
- Major Change Type
- Status Change
- Status Change Timestamp
- 2024-05-15
- Offer Acceptance Date
- 2024-03-28
- Close Date
- 2024-05-15
- Close Price
- 625000
- Concessions
- No
- Buyer Financing
- Conventional
More Information
Exemption Information
- Exemption YN
- Y
Frontage Type
- Frontage Length
- 95
Income and Expenses
- Expense Year
- 2023
- Gross Scheduled Income
- 52200
- Insurance Expense
- 7000
- Net Operating Income
- 37281.1
- New Taxes Expense
- 3712
- Total Actual Rent
- 52200
- Water Expense
- 1800
- Electric Expense
- 0
- Gross Income
- 0
- Maintenance Expense
- 0
- Manager Expense
- 0
- Other Expense
- 0
- Professional Management Expense
- 0
- Sewer Expense
- 0
- Supplies Expense
- 0
- Trash Expense
- 0
Unit Details
- Number Of Efficiencies
- Yes
- Number Of One Bedroom Units
- 4
- Number Of Two Bedroom Units
- 2
- Number Of Stores
- Yes
Showing Requirements
- Showing Instructions
- 24 Hours Notice for tennants
Historical Information
- Public Historical Remarks
- Array, Lease Type: Net
Location, Tax, and Legal
- Postal Code +4
- 4422
- Tax Annual Amount
- 3617
- Tax Year
- 2023
- Tax Assessed Value
- 0
- Tax Legal Description
- Legal Description: 42-01-32-279-018 VAILS LOTS 6 & 7 BLK 4
- Parcel Number
- 460132279018000022
- Township
- Michigan
- Directions
- Franklin St, West on Barker. Corner of Barker and Wabash.
- Cross Street
- Wabash
Basement
- Full
- Yes
- Partial
- Yes
Construction Materials
- Aluminum Siding
- Yes
- Brick
- Yes
Flooring
- Carpet
- Yes
- Linoleum
- Yes
- Tile
- Yes
Interior Features
- Elevator
- Yes
Laundry Features
- Common Area
- Yes
Lock Box Information
- Lock Box Serial Number
- No
Parking Features
- Attached
- Yes
- Off Street
- Yes
Possession
- Close Of Escrow
- Yes
Road Surface Type
- Concrete
- 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
Tenant Pays
- Electricity
- Yes
- Gas
- Yes
Listing Office:
Coldwell Banker Realty
Last Updated: May - 15 - 2024
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