2622 Buffalo Street, Michigan City, IN 46360
$2,060,000
Property Type:
Commercial Sale
Square Footage:
26,905
Lot Size (sq. ft.):
211,266
Status:
Closed
Current Price:
$2,060,000
List Date:
6/27/2022
Last Modified:
2/24/2024
Overview
Description
Listing Details MLS# 515082
General Property Information
- Living Area
- 26905
- Building Area Source
- Assessor
- Year Built
- 1953
- Lot Size Acres
- 4.85
- Lot Size Square Feet
- 211266
- Lot Size Dimensions
- IRR
- Builder Name
- Ages of Homes Vary
- Stories
- 0
Property Features
Building Features:
Exterior Lighting; Other
Construction Materials:
Other
Cooling:
None
Current Use:
Multi-Family; Single Family
Electric:
Other
Foundation Details:
See Remarks
Heating:
Forced Air
Interior Features:
Elevator
Listing Terms:
Cash; Conventional
Parking Features:
Other
Possession:
Subject To Tenant Rights
Possible Use:
Multi-Family; Other
Rail Availability:
None
Road Frontage Type:
City Street
Roof:
Mixed; Other
Tenant Pays:
Gas; Water
Utilities:
Electricity Connected; Natural Gas Available; Natural Gas Connected; Sewer Connected
Water Source:
Public
Showing Requirements:
Appointment Only; Listing Agent Must Accompany
Contract Information
- Auction YN
- No
- Original List Price
- 2190000
- Property Sub Type
- Mixed Use
- Property Attached YN
- No
- Listing Agreement
- Exclusive Right To Sell
- Occupant Type
- Tenant
Location Tax and Legal
- Street Number
- 2622
- Street Name
- Buffalo
- Street Suffix
- Street
- County
- La Porte
- State
- IN
- Postal Code
- 46360
- Subdivision Name
- N/A
Remarks and Miscellaneous
- Public Remarks
- What an incredible investor opportunity with a collection of 30 SF homes and 3 duplexes, almost fully occupied, in Michigan City, Indiana. Homes are in a variety of conditions and arrangements, with 2 to 3 BRs + 1 BA. The duplexes offer 1 BR + 1 BA per unit. Average rents per housing unit are in the range of $500 to $700 per. These homes are slab on grade, simple construction from the 1950s. Extremely long rental histories, with many long term tenants. Properties are spread around Buffalo, Manhattan, Ruby, Carroll, Davidson, Del Plain, Highland, and Walton Streets. Only the few vacant units will be shown without LOI or offer. Listing is being sold AS-IS. Terms are cash or commercial loan and likely require 30-40% down depending on lender. Seller financing is not available. Qualified, serious investors only. Only 2 properties will be shown. Offers may be made subject to Buyer's personal tour of properties after acceptance. Subject to Tenant's Rights. Seller is a licensed agent.
Status Change Information
- Major Change Timestamp
- 2022-12-20T12:56:39Z
- Major Change Type
- Status Change
- Status Change Timestamp
- 2022-12-20
- Offer Acceptance Date
- 2022-10-17
- Close Date
- 2022-12-20
- Close Price
- 2060000
- Concessions
- No
- Buyer Financing
- Conventional
More Information
Exemption Information
- Exemption YN
- Y
Income and Expenses
- Net Operating Income
- 149381
- New Taxes Expense
- 32252
- Electric Expense
- 0
- Gross Income
- 0
- Gross Scheduled Income
- 0
- Insurance Expense
- 0
- Maintenance Expense
- 0
- Manager Expense
- 0
- Other Expense
- 0
- Professional Management Expense
- 0
- Sewer Expense
- 0
- Supplies Expense
- 0
- Total Actual Rent
- 0
- Trash Expense
- 0
- Water Expense
- 0
Showing Requirements
- Showing Instructions
- Use Showing Assist. 48 hour notice.
- Appointment Only
- Yes
- Listing Agent Must Accompany
- Yes
Historical Information
- Public Historical Remarks
- Utilities: On
Location, Tax, and Legal
- Postal Code +4
- 6013
- Tax Legal Description
- Legal Description: 33 different Legal Descriptions
- Parcel Number
- 460132453010000022
- Township
- Michigan
- Directions
- Properties are spread around two neighborhoods.
Construction Materials
- Other
- Yes
Cooling
- None
- Yes
Electric
- Other
- Yes
Foundation Details
- See Remarks
- Yes
Heating
- Forced Air
- Yes
Interior Features
- Elevator
- Yes
Listing Terms
- Cash
- Yes
- Conventional
- Yes
Parking Features
- Other
- Yes
Possession
- Subject To Tenant Rights
- Yes
Road Frontage Type
- City Street
- Yes
Roof
- Mixed
- Yes
- Other
- Yes
Utilities
- Electricity Connected
- Yes
- Natural Gas Available
- Yes
- Natural Gas Connected
- Yes
- Sewer Connected
- Yes
Water Source
- Public
- Yes
Auction
- Minimum Opening Bid
- 0
- Buyer Premium Amount
- 0
Tenant Pays
- Gas
- Yes
- Water
- Yes
Current Use
- Multi-Family
- Yes
- Single Family
- Yes
Possible Use
- Multi-Family
- Yes
- Other
- Yes
Building Features
- Exterior Lighting
- Yes
- Other
- Yes
Rail Availability
- None
- Yes
Listing Office:
RE/MAX Lifestyles
Last Updated: February - 24 - 2024
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