2601-2615 Morningside Drive, Schererville, IN 46375

$1,730,000
Property Type: Residential Income Bedrooms: 32 Baths: 32 Square Footage: 16,720 Status: Closed
Current Price: $1,730,000 List Date: 6/25/2012 Last Modified: 2/22/2024

Overview

Description

RARE INVESTMENT OPPORTUNITY!!! Two 16 unit apartment buildings (2601-2615 Morningside Dr. and 2633-2649 Morningside Dr.) All 32 apartments are two bedrooms, one bath, and each apartment has its own one car garage space All units are leased except for the one that is used for showings. Each building has two laundry facilities with coin operated washer and dryer. These two buildings have been maintained in excellent condition.

Listing Details MLS# 310302

General Property Information

New Construction YN
No
Bedrooms Total
32
Bathrooms Full
32
Rooms Total
160
Bathrooms Total
32
Living Area
16720
Living Area Source
Assessor
Year Built
1987
Garage YN
Yes
Garage Spaces
35
Parking Total
21
Lot Size Dimensions
?
Waterfront YN
No
Basement YN
No
Bathrooms Half
0
Bathrooms Three Quarter
0
Number Of Units Total
0
Lot Size Square Feet
0
Carport Spaces
0

Property Features

Appliances: Dishwasher; Range; Refrigerator Construction Materials: Brick; Wood Siding Cooling: Central Air; Individual Exterior Features: Balcony Heating: Forced Air; Individual; Natural Gas Interior Features: Elevator Laundry Features: Common Area Lease Type: Net Listing Terms: Cash; Conventional; Lease Option Parking Features: Detached Patio And Porch Features: Deck; Patio Rent Includes: Trash Collection; Water Road Surface Type: Asphalt Utilities: Cable Available; Sewer Available Water Source: Public

Contract Information

Original List Price
2200000
Lease Considered YN
No
Property Sub Type
Apartment
Listing Agreement
Exclusive Right To Sell
Occupant Type
Tenant

Location Tax and Legal

Street Number
2601-2615
Street Name
Morningside
Street Suffix
Drive
County
Lake
State
IN
Postal Code
46375
Subdivision Name
Harvest Manor

Remarks and Miscellaneous

Public Remarks
RARE INVESTMENT OPPORTUNITY!!! Two 16 unit apartment buildings (2601-2615 Morningside Dr. and 2633-2649 Morningside Dr.) All 32 apartments are two bedrooms, one bath, and each apartment has its own one car garage space All units are leased except for the one that is used for showings. Each building has two laundry facilities with coin operated washer and dryer. These two buildings have been maintained in excellent condition.

Status Change Information

Major Change Timestamp
2013-07-11T21:44:38Z
Major Change Type
Status Change
Status Change Timestamp
2013-07-11
Offer Acceptance Date
2012-12-07
Close Date
2013-07-11
Close Price
1730000
Buyer Financing
Conventional

More Information

Exemption Information

Exemption YN
Y

Income and Expenses

Electric Expense
1995
Expense Year
2010
Gross Income
5400
Gross Scheduled Income
229628
Insurance Expense
14000
Net Operating Income
135422
New Taxes Expense
47641
Other Expense
6953
Total Actual Rent
224228
Trash Expense
7971
Water Expense
11510
Maintenance Expense
0
Manager Expense
0
Professional Management Expense
0
Sewer Expense
0
Supplies Expense
0

Unit Details

Number Of Two Bedroom Units
32
Number Of Apartments
32

Unit 1

Unit Description
Apartment
Unit Number
Yes
Square Feet
924
Rent
700
# Of Rooms
2

Showing Requirements

Showing Instructions
Listing Agent will be Present For All Showings., Call Listing Agent at 219-730-1911

Historical Information

Public Historical Remarks
Array, Lease Type: Net

Location, Tax, and Legal

School District
Lake Central
Tax Assessed Value
0
Tax Legal Description
Legal Description: Harvest Manor Unit #1 Sec. #3 S. 64.53' of LT 86 & All LT 87 Lot 88 & Harvest Manor Unit #1 Sec. #3 Lot84 Lot85 and Lot 86 EXC. The S.64.53'
Parcel Number
451123285001000036
Zoning Description
Residential
Township
St. John
Directions
US 30 to Harvest Dr., South to Autumn, East to Morningside Dr., South to buildings on left.
Cross Street
Autumn

Appliances

Dishwasher
Yes
Range
Yes
Refrigerator
Yes

Construction Materials

Brick
Yes
Wood Siding
Yes

Cooling

Central Air
Yes
Individual
Yes

Exterior Features

Balcony
Yes

Heating

Forced Air
Yes
Individual
Yes
Natural Gas
Yes

Interior Features

Elevator
Yes

Laundry Features

Common Area
Yes

Listing Terms

Cash
Yes
Conventional
Yes
Lease Option
Yes

Lock Box Information

Lock Box Serial Number
No

Parking Features

Detached
Yes

Patio And Porch Features

Deck
Yes
Patio
Yes

Road Surface Type

Asphalt
Yes

Utilities

Cable Available
Yes
Sewer Available
Yes

Water Source

Public
Yes

Auction

Minimum Opening Bid
0
Buyer Premium Amount
0

Lease Type

Net
Yes

Rent Includes

Trash Collection
Yes
Water
Yes
Listing Office: Century 21 McCarthy
Last Updated: February - 22 - 2024
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