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$ 549,000
Est. payment /mo
Active
1115 Franklin ST Michigan City, IN 46360
1 Bath
2,600 SqFt
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Quadruplex
Listing Status Active
Purchase Type For Sale
Square Footage 2,600 sqft
Price per Sqft $211
Subdivision Land Companys Add
MLS Listing ID 837999
Full Baths 1
Year Built 1900
Annual Tax Amount $4,618
Tax Year 2025
Lot Size 2,613 Sqft
Acres 0.06
Property Sub-Type Quadruplex
Property Description
Prime investment opportunity in the heart of downtown Michigan City! Looking for a multi-unit property that also includes a retail space? This fully leased, mixed-use property offers immediate cash flow and long-term upside in a highly desirable location. The commercial building boasts a new roof (2024), furnace, 200 amp service and many other updates and improvements! The street-level retail space enjoys excellent visibility and steady foot traffic, making it an ideal anchor for the property. Two residential apartments above the retail space provide consistent rental income---one of which has been completely renovated with modern finishes, offering strong tenant appeal and reduced maintenance concerns. Adding further value is a separate carriage house, enhancing the overall versatility of the property. All units are currently rented with active leases in place, making this a true turnkey investment. Situated in a vibrant corridor of Michigan City, this property is conveniently located one block from the south shore train station. Whether you're looking to expand your portfolio or secure a stable, income-producing asset in a prime location, this property delivers on all fronts!
Location
State IN
County La Porte
Interior
Interior Features Other
Heating Forced Air, Natural Gas
Fireplace N
Appliance Gas Range, Refrigerator
Exterior
Exterior Feature None
View Y/N true
View true
Building
Lot Description Corner Lot
Story Two
Schools
School District Michigan City
Others
Tax ID 460129466015000022
SqFt Source Assessor
Acceptable Financing NRA20260429183815389968000000
Listing Terms NRA20260429183815389968000000
Pets Allowed Call
Listed by Blackrock Real Estate Services • Kimberly Fowler