200 N MICHIGAN STREET La Paz, IN 46537

$199,500

5

Bedrooms

5

Total Baths

4

Full Baths

6,106

Square Feet

0.27

Acres

1920

Year Built

70 days

On Website

Active

Status

Rare opportunity to settle estate. Five rental units. Could be residential or other multiple uses, as property is zoned Commercial. Former uses include drug store, restaurant, and beauty shop - the possibilities are limitless. Great spot for a Mom and Pop shop. Signage available. Two units (C and D) need updating, approximately 2,900 SF or could be suited for retail or climate controlled indoor storage. Two units currently rented (A and B, interior pictures of these two not posted), Unit E is move in ready and was occupied by previous owner. Great La Paz location close to schools and Newton Park. *Important note - This is an estate now. NET INCOME is based off low rents because previous owner was kind and kept rents low. There IS market to have the rents raised. This same owner also occupied one of the units so the income does not reflect his portion of an additional rent. When figuring net incomes, please add in for an additional unit of rent.

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Details


Interior
Bathrooms Full
4
Bathrooms Half
1
Bathrooms Total
5
Bedrooms Total
5
Flooring
Carpet, Laminate, Mixed
Living Area
6,106 SqFt.

Building And Construction
Number Of Units Total
5
Property Sub Type
Multi Family
Property Type
Residential Income
Style
Two Story
Year Built
1920

Exterior And Lot
Lot Size Acres
0.27
Lot Size Square Feet
11761
Parking Total
10

Utilities
Cooling
Central Air, Window
Heating
Gas, Forced Air

Area And Schools
City
La Paz
Elementary School
Laville
High School
Laville
High School District
Union-north United School Corp.
Middle Or Junior School
Laville
Subdivision Name
None

Additional Info
# Above Grade Bedrooms
5
# Below Grade Baths
0
# Below Grade Bedrooms
0
# of Dishwashers
0
# of Disposals
0
Above Grade Unfin. SqFt
240
Age
101
Auction Y/N
No
Below Grade Unfin. SqFt
0
Gross Monthly Rent
800
Outbuilding
None
REO Y/N
No
Total Below Grade SqFt
0
WATER UTILITY
Well

Listing By RE/MAX OAK CREST -PLYMOUTH – Dave Goebel

MLS# 202128661

Data Last Updated 8:18PM - 9/22/2021

Indiana Regional MLS

The data relating to real estate for sale on this website comes in part from the Internet Data exchange (“IDX”) program of the Indiana Regional MLS LLC®. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Real estate listings held by brokerage firms other than RE/MAX Oak Crest Realty, are indicated by detailed information about them such as the name of the listing firms. Information deemed reliable but not guaranteed. Copyright© 2021 Indiana Regional MLS LLC®. All Rights Reserved.

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