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Est. payment /mo
0.51 Acres Lot
Price Dropped by $15K
8137 Pine Island Terrace Crown Point, IN 46307
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Key Details
Property Type Multi-Family
Sub Type Quadruplex
Listing Status Active
Purchase Type For Sale
MLS Listing ID 838817
Year Built 1977
Annual Tax Amount $4,683
Tax Year 2024
Lot Size 0.510 Acres
Property Sub-Type Quadruplex
Property Description
Well-maintained 4-unit apartment building, multifamily asset located in Crown Point, Indiana sitting on 0.51 acres. Built in 1978, this 4-unit property provides a strong investment opportunity. Prime location near schools, a community park, and local amenities, including on-site laundry facility and hallway storage for occupants. Owner is responsible for water (cold/hot) in units and common area, electricity only in common area, for gas bill in common area, and home owner association fees. Units are fitted with in-wall electric air conditioning units, electric baseboard heating, and electric appliances including stove. Tenants are responsible for respective electric bills. First floor units include a walk out patio, second floor units include a balcony. A car port in front of the building provides ample parking spaces. Spacious grass surrounding the building with a small stream behind the property. Brand new, single-layer roof installed in 2017. Rent: Understandably these may be lower than what the market may dictates but the owners financial capabilities allows lower rents to minimize turnover. Current tenants between 5-14 yrs on premise. New owners would have the ability to adjust rent to meet their needs. Total revenue: 4,060/month (includes est value for one open vacancy) + Laundry revenue 200/month Expenses: - HOA 150/month includes garbage 2x week, fertilizer, and mowing/snow plowing parkway and parking lot - Water 135/mo - Elec 50/mo - Gas 50/mo Misc Details: -Gas is only in laundry room to support water heaters and dryer. No gas in units. -Water heaters 10 years -Washer (~2yrs) & Dryer (~5 yrs) are Speedqueen commercial quality. -No furnaces. -Each unit is fully electric with electric baseboard heating and electric stove. Tenants pay electricity. AC wall units: - 3 bd - 1st unit 3yrs old, 2nd unit is older unknown age. - 2 bd - all units have new AC units 1 yr old.
Location
State IN
County Lake
Interior
Interior Features Other
Heating Baseboard, Natural Gas
Cooling ENERGY STAR Qualified Equipment
Fireplace No
Appliance Dryer, Washer, Range Hood, Refrigerator, Range, Gas Water Heater, Gas Range, Freezer, Electric Range, Dishwasher, Disposal
Building
Lot Description Other
Others
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
Listed by Beycome Brokerage Realty LLC
NEARBY SCHOOL & BUSINESS
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