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***SOLD***6-UNIT APARTMENT COMPLEX

***SOLD***6-UNIT APARTMENT COMPLEX

57,000.00 79,500.00

2711 S. Michigan St.
South Bend, IN 46614

sold out
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SUMMARY

 

Highlights

Collect $2,200/month OR MORE on this
6-Unit Property in South Bend, IN!
***PRICE REDUCED***

  • Perfect Starter Property
  • Are you looking for real passive income?
  • Are you looking to multiply your returns in real estate?
  • Tired of competing over single family units?
  • For less than the price of most Single Family Homes, you can have 6 income-producing units!

PRICED TO MOVE QUICKLY:  $57,000

Investment Opportunity

  • Purchase Price: $79K now reduced to $57K

  • Building Class: C

  • Location Class: C

 

 

Investment Benefits

  • Priced to MOVE

  • Perfect small multifamily deal

  • Located in Erskine Park Community just south of Downtown

  • Originally configured for 3 units; now converted to 6 units

  • About $1k rehab/improvement needed

  • Furnace, water heaters, other appliances recently replaced

  • $12,000 estimated annual NOI

  • Pro forma cap rate 14.8% after repairs

  • Cash on cash return 26.2%

  • Room for rent increases and other value plays!

 

Property Details

Price: $57K
Address: 2711 S Michigan St
City: South Bend
State: IN
Zip Code: 46614

Terms: For Sale
Property Type: Apartment

 

This is an Off-Market Deal

For additional information and an Information Packet see below.

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