36
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$529,000
Est. payment /mo
5,737 SqFt
Price Dropped by $20K
1115 Franklin ST Michigan City, IN 46360
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Key Details
Property Type Commercial
Sub Type Multi Family
Listing Status Active
Purchase Type For Sale
Square Footage 5,737 sqft
Price per Sqft $92
Subdivision Land Companys Add
MLS Listing ID 835608
Year Built 1900
Annual Tax Amount $4,618
Tax Year 2025
Lot Size 2,613 Sqft
Acres 0.06
Property Sub-Type Multi Family
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
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
Others
Tax ID 460129466015000022
Acceptable Financing NRA20260314231147139770000000
Listing Terms NRA20260314231147139770000000
Listed by Blackrock Real Estate Services • Kimberly Fowler
NEARBY SCHOOL & BUSINESS
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