422 S Union Street, Warsaw, IN
$ 960,000
Property Attributes
  • MLS#202405089
  • TypeBackup
  • CityWarsaw
  • AreaWayne
  • NeighborhoodGraves
  • Zip46580
  • Style
  • Year Built1875
  • Taxes$ 8568
  • Price$ 960,000
  • Bedrooms20
  • Full Bathrooms14
  • Half Bathrooms0
  • Sqr Footage9383
Data Source:
Indiana Regional MLS (IRMLS)
Property Description

Investors seize this unique opportunity with this package deal comprising of three income-producing properties in the heart of Warsaw at 422 S Union St, 418 S Union St, and 322 S Columbia St. Each property has undergone a significant amount of refreshing, updating and remodeling, bringing increased revenue, decreased costs, and stable tenancy. With every completed unit being occupied this portfolio promises immediate cash flow and strong returns. Totaling 14-units, these three properties are being offered at the attractive price of $960,000, boasting an impressive 12.55% CAP rate and remarkable returns exceeding 20.6% cash on cash even after accounting for vacancy, property management, and CapEx expenses, assuming traditional financing. Don't miss out on this rare opportunity to own a diversified portfolio of income-generating properties. Act now and elevate your investment strategy with this exceptional package deal.

Elementary School Middle School High School
Washington Elementary School Edgewood Middle School Warsaw High School
Price History
2/19/2024 Listed $960,000

General Features

Heating Gas,Baseboard,Forced Air
Cooling None
Sewer City
Pool Y/N No
# of Buildings 4
Status Active
Full Baths 14
Bathrooms 14
Year Built 1875
New Construction No
Tenant Pays Electric
Subdivision Graves
Style Two Story
Stories 2
Township Wayne
Type Other
Age 149
Net Income 180776.24
Lot Number 1918
Rent Income 222659.04
FIPS Code 18085
OwnerPays Electric,Heating,Sewer,Trash Collection,Water Softener
Features Basement,Off Street Parking
Associated Document Count 4
Annual Electric Expense 6459.36
Annual Fuel Expense 4950.6
Annual Insurance Expense 10228.92
Annual Trash Expense 2844
Status Cont-AccptngBackupOffers
Status Detail 1
Auction Y/N No
Area Kosciusko County
High School Warsaw
City Warsaw
School District Warsaw Community
Assoc. Dues Frequency Not Applicable
Pet Restrictions Y/N Yes
Total Sq Ft 12188
Street Name Union
Elementary School Washington
Middle School Edgewood
Legal Description 4-40-198 LOT 19 & N 12' LOT 18 GRAVES ADD,AND 004-040-198.B LOT 20 GRAVES ADD & PT VAC ALLEY,AND 004-043-054 E 1/2 LOT 400 & 401 HOOD & BRITTON ADD AKA CITY OF WARSAW
Virtual Tour
Agent First Name James
Agent Last Name Bausch
DOM 59
Tax Year 2024

Interior Features

Basement Crawl,Partial Basement,Unfinished
Flooring Laminate
Beds 19
Total Number of Units 14
Refrigerators 13
Washers 1
Dryer(s) 1
Total Finished SqFt 9383
Basement Y/N Yes
Grid 10 - Central Kosc.
Above Grade Bedrooms 19
Ranges/Ovens 12
W/D Hookups 1
Above Grade Finished SqFt 9383
Below Grade Unfin. SqFt 2805
Num. of 1 Bedrooms 6
Num. of 2 Bedrooms 7
Num. of Efficiencies 1
Basement Material Block

Exterior Features

Exterior Aluminum,Brick,Vinyl
Number of Parking Spaces 25
Lot Size Area 40511
Lot Dimensions 83X198,77x198,66x132
Lot Description 0-2.9999
Water Meters 3
Electric Meters 12
Outbuilding None
Gas Meters 8
Approx. Lot Size Acres 0.93
Waterfront Y/N No


  • Views
  • New Construction
  • Adult 55+
  • Lease To Own
  • No HOA Fees
  • Furnished
  • Primary On Main
  • Air Conditioning
  • Seller Finance
  • Green
  • Fixer Upper
  • Horse
  • Golf
  • Fireplace
  • Deck
  • Garage
  • Basement
  • Pool

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. Data is deemed reliable but is not guaranteed accurate by the MLS. IDX information is provided by the Indiana Regional MLS. Information last updated on April 19, 2024 7:48 AM UTC

Property vs Backup Average in 46580

AVG $270K
AVG $2,170
AVG 102
Data Provided by Inside Real Estate®
Year Built
AVG 1948