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Ryan Klingle

ryan@812houses.com +1(812) 296-6000

Listed by RE/MAX Results

$ 350,000

Est. payment -/mo

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415 N Washington ST Warsaw, IN 46580-2652

7 Beds

4 Baths

5,558 SqFt

UPDATED:

Key Details

Property Type Multi-Family

Sub Type Fourplex

Listing Status Active

Purchase Type For Sale

Square Footage 5,558 sqft

Subdivision Hood & Britton

MLS Listing ID IRM202637922

Bedrooms 7

Full Baths 4

HOA Y/N No

Year Built 1890

Annual Tax Amount $6,837

Tax Year 2026

Lot Size 8,712 Sqft

Acres 0.2

Lot Dimensions 66X132

Property Sub-Type Fourplex

Property Description

Investor opportunity with a CAP rate over 12%! This income-producing multi-unit property is a fantastic addition to any portfolio, offering three residential apartment units plus a large workshop/garage unit with office space - all within walking distance of vibrant downtown Warsaw. The location adds even more appeal for tenants, with shopping, dining, community events, Central Park, and Center Lake just around the corner. Enjoy easy access to the Friday night concert series, playgrounds, kayak rentals, and more. Apartment A is a spacious 4 bedroom, 2 bath unit that was completely remodeled down to the studs in 2020, including updated plumbing and electrical. A new back deck was added in 2023, and the large primary bedroom features an en-suite bath and direct deck access. AND a brand new mini-split just installed! Apartment B offers 1 bedroom and 1 bathroom, while Apartment C features 2 bedrooms, 1 bathroom with a jetted tub, and new flooring installed in 2021. Each apartment includes a generous kitchen with ample cabinetry plus its own washer and dryer - an attractive convenience for tenants. The fourth unit is a versatile 40'x30' garage/workshop with 15' ceilings, a 12' overhead door, and two offices, creating additional rental potential for a contractor or business needing office, workshop, and storage space. Additional improvements include a partial roof replacement in 2021 and a new sewer line installed in 2022. Utilities are billed back to tenants, all three apartments are currently rented, and the property is producing a CAP rate of over 12%. With established rental income, multiple revenue streams, tenant-paid utilities, and a strong CAP rate, this property offers an opportunity to add a solid income-producing asset to your portfolio in a prime Warsaw location.

Location

State IN

County Kosciusko County

Rooms

Basement Full, Partially Finished

Interior

Heating Heat Pump

Inclusions Building, Land

Fireplace N

Exterior

View Y/N true

Total Parking Spaces 8

Building

Lot Description 0-2.9999

Story Two

Sewer Public Sewer

Water City

Level or Stories Two

New Construction No

Schools

Elementary Schools Washington

Middle Schools Edgewood

High Schools Warsaw

School District Warsaw Community

Others

Pets Allowed No

Tax ID 43-11-08-400-466.000-032

Acceptable Financing IRM202637922

Listing Terms IRM202637922

Special Listing Condition None

Pets Allowed Yes

Virtual Tour https://www.propertypanorama.com/instaview/irmls/202637922

Ryan Klingle

415 N Washington ST Warsaw, IN 46580-2652

Key Details

Location

Rooms

Interior

Exterior

Building

Schools

Others

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415 N Washington ST