Michigan City, IN 46360 1516 Lafayette Street

$279,000

1516 Lafayette Street Michigan City, IN - Image 11516 Lafayette Street Michigan City, IN - Image 21516 Lafayette Street Michigan City, IN - Image 3
18 more
1516 Lafayette Street Michigan City, IN - Image 41516 Lafayette Street Michigan City, IN - Image 51516 Lafayette Street Michigan City, IN - Image 61516 Lafayette Street Michigan City, IN - Image 71516 Lafayette Street Michigan City, IN - Image 81516 Lafayette Street Michigan City, IN - Image 91516 Lafayette Street Michigan City, IN - Image 101516 Lafayette Street Michigan City, IN - Image 111516 Lafayette Street Michigan City, IN - Image 121516 Lafayette Street Michigan City, IN - Image 131516 Lafayette Street Michigan City, IN - Image 141516 Lafayette Street Michigan City, IN - Image 151516 Lafayette Street Michigan City, IN - Image 161516 Lafayette Street Michigan City, IN - Image 171516 Lafayette Street Michigan City, IN - Image 181516 Lafayette Street Michigan City, IN - Image 191516 Lafayette Street Michigan City, IN - Image 201516 Lafayette Street Michigan City, IN - Image 211516 Lafayette Street Michigan City, IN - Image 22
Presented By: Susan Beyler with Harbor & Lake Real Estate, LLC -
  • MLS# 801265
  • 03/24/2024
  • Request Tour
  • Request Info
  • Beds • 5
  • Baths • 3

Home Details

Fully leased, completely remodeled investment property in the Michigan City! 3 unit with total of 5 BR & 3 BA (3 bed/1 bath, 1 bed/1 bath, large 1 bed/1 bath), 1 unit up and 2 on the main level. New windows, roof, plumbing, furnaces and all interior finishes. Gas & electric paid by Tenants, water/sewer is landlord paid. Total monthly rent of $2,700/mo and units are leased to June '24, Nov '24, and Apr '25 CAP rate is over 9.0. Close to the brand new south shore station for an easy trip to Chicago, South Bend, or in between.
Presented By: Susan Beyler with Harbor & Lake Real Estate, LLC -

Interior Features for 1516 Lafayette Street

Bedrooms

Total Bedrooms5

Bathrooms

3/4 Baths0
Full Baths3
Half Baths
Total Baths3

Other Interior Features

LivingAreaSourceAssessor
Above Grade Finished Area2416
Fireplace Y/NNo
Laundry FeaturesOther
Street SuffixStreet

General for 1516 Lafayette Street

AppliancesDishwasher, Dryer, Gas Range, Refrigerator, Washer
CityMichigan City
CountyLa Porte
Current FinancingCash, Conventional
Electric Expense
Exterior FeaturesNone
Garage Y/NNo
HeatingForced Air, Natural Gas
Insurance Expense1743
Interior FeaturesNone
Lease Considered Y/NNo
Legal Description42-01-33-158-014 SANBORNS 2ND LT 12 BLK 10 & 2 FT W SD LT 11 BLK 10.
LevelsTwo
Lot Size Square Feet5584.39
Net Operating Income27466
New ConstructionNo
OwnerPaysInsurance, Repairs, Sewer, Taxes, Water
Patio/Porch FeaturesFront Porch
Pool FeaturesNone
Property ConditionUpdated/Remodeled
Property SubTypeTriplex
Property TypeResidential Income
Rent IncludesSewer, Water
SewerPublic Sewer
Standard StatusActive
StatusActive
Street NameLafayette
Subdivision NameSanborns Add 02
Tax Annual Amount2374
Tax Assessed Value113500
Tax Year2023
Taxes$2,374
Total Actual Rent32400
Total Rooms12
TownshipMichigan
Year Built1876

Exterior for 1516 Lafayette Street

FencingNone
Lot FeaturesCorner Lot
Lot Size Acres0.1282
Lot Size SourcePublic Records
Parking FeaturesGravel, Off Street, Parking Pad
Total Parking3
Water SourcePublic

Additional Details

Price History

Caylie Barras

Broker
Price $279,000
MLS#801265
List Date 03/24/2024
Property Type Multi-Family
Phone 219.775.6232
Request Tour
Request Info
Visit My Website

Similar Properties to 1516 Lafayette Street

Ask A Question