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523 E 8th Street Michigan City, IN $ 2,449,000
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$ 2,449,000 Get more info
523 E 8th Street
$ 2,449,000
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Share Save

523 E 8th Street

Michigan City, IN, 46360
$ 2,449,000
Baths0.0 Sq 20,693

Monthly Estimate*

$ 17,107

523 E 8th Street, Michigan City, IN 46360 - Image 1
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523 E 8th Street, Michigan City, IN 46360 - Image 13
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Studio

Commercial Property for sale in Michigan City, IN

for $2,449,000. This 20,693 square foot building was built in 1910 on a lot size of 2.94.

Unique opportunity to acquire a turnkey single family investment home collection in the energized Lake Michigan community of Michigan City, Indiana. Currently going through transformative redevelopment projects related to the shoreline and the South Shore double tracking project, Michigan City is seeing great interest and investment, to the tune of hundreds of millions in new projects. This downtown housing collection offers an investor a turnkey opportunity to get a 9.1 CAP on the investment. Currently consists of 16 homes ready for your ownership. Tenants pay all utilities. Laundry machines are not included in the sale, but most kitchen appliances are. Out of respect to our seller and tenants, only qualified buyers with POF and signed NDA may receive list of properties and property rent roll.

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Commercial Active

Price

$ 2,449,000

Bedrooms

Studio

Property Type

Commercial

Taxes

$ 24,456

Style

Mixed Use

Lot Size

2.94

Year Built

1910

Town/City

Michigan City

County/Region

La Porte

MLS | Web ID

518862
Features
General
Interior Features Elevator
Heating Forced Air
Utilities Electricity Connected Natural Gas Available Natural Gas Connected Other Sewer Connected Water Connected
Year Built 1910
Electric Other
Township Michigan
Property SubType Mixed Use
Tax Year 2023
Gross Income 0
County La Porte
Net Operating Income 0
Insurance Expense 0
Property Type Commercial Sale
Subdivision Name Varies
Building Features Other
Close Price 0
Status Active
Directions Properties are spread around LaPorte County.
City Michigan City
Zoning Description Residential
Lot Size Square Feet 128066.4
Street Name 8th
Property Attached Y/N N
Tax Annual Amount 24456
Electric Expense 0
Trash Expense 0
Builder Name Age of Homes Vary
Standard Status Active
Total Actual Rent 0
Taxes 0
Legal Description Legal Description: 16 different Legal Descriptions
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Exterior
Parking Features Other
Total Parking 16
Lot Dimensions IRR
Lot Size Acres 2.94
Lot Size Source Assessor
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Interior
Street Suffix Street
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* Excluded Features
List By
Matt Evans

Listing Agent

Re/Max Lifestyles

Broker

matt@themattevansteam.com

Email

Affordability Calculator

$19,145
Per Month
89%
11%
0%
Monthly Principal & Interest
$17,107
Monthly Property Taxes
$2,038
Monthly Home Insurance
--
Default based on a 30-year fixed rate of 7.49% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.
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The time to sell is now
THE TIME TO SELL IS NOW!
Nearby
1261196 Elementary School
1261197 Middle School
Unknown High School High School
See complete school information
Pricing History
DatePricePrice ChangeDescription
4/12/2024$2,449,000 -59.32% Price Down
1/29/2024$6,020,500 -16.21% Price Down
11/14/2023$7,185,500 -8.30% Price Down
6/30/2023$7,836,000 -4.44% Price Down
1/16/2023$8,200,000 -3.53% Price Down
9/1/2022$8,500,000 Listed Price

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523 E 8th Street, Michigan City, IN, 46360 is a Commercial Property for sale at $2,449,000 with 20,693 sqft and a lot size of 2.94. 523 E 8th Street is a studio with 0.0 baths and was built in 1910. The property's zip code is 46360 which is in Michigan City, IN

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