2551 North Michigan Road

Shelbyville, IN 46176

$1,795,650
Price
Beds
Sq. Ft.
/ Sq. Ft.
Sq. Ft.
per Sq. Ft.

Description

(8) Buildings totaling (16) units. (8) Buildings totaling (16) units (14) two bedroom (1) one bedroom (1) three bedroom. Property visible from Interstate 74. Steps from MHP Major Hospital and Interstate 74. Minutes from Horseshoe Racing Casino and Shelbyville Municipal Airport. 16 minutes or 16 miles to Indianapolis straight shot on interstate 74. Minutes from RYOBi Die Casting, PK USA, Pilington North America, and other major employers. Multiple parcels see agent remarks. Drive by Only. Rents averaging...(8) Buildings totaling (16) units. (8) Buildings totaling (16) units (14) two bedroom (1) one bedroom (1) three bedroom. Property visible from Interstate 74. Steps from MHP Major Hospital and Interstate 74. Minutes from Horseshoe Racing Casino and Shelbyville Municipal Airport. 16 minutes or 16 miles to Indianapolis straight shot on interstate 74. Minutes from RYOBi Die Casting, PK USA, Pilington North America, and other major employers. Multiple parcels see agent remarks. Drive by Only. Rents averaging $788 compared to market rate of $920 for a 2 bedroom in Shelbyville. Upside Potential for new owner. If 112 East Locust Street can pull $920 average on a 2 bedroom. Possibility at this location is a no brainer.
  1. Listed by Hector David Orton • BAFO

Property Details for 2551 North Michigan Road

Architectural Style
Ranch
Subdivision Name
SUBDIVISION NOT AVAILABLE See Legal
Township
Marion

Location

Listing Courtesy of BAFO
Add your commute
LISTING UPDATED: 08/02/2022 11:25 AM

Property Details for 2551 North Michigan Road

StatusActive
MLS #21873420
Days on Market635
Taxes$2,841 semi-annually
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income / Commercial Units - 5+
Year Built1984
Lot Size5.25 AC / 228,690 SF
CountyShelby County

Location

Listing Courtesy of BAFO
Add your commute

Building Information for 2551 North Michigan Road

Stories-Residences16Year Built1984Building Size-Lot Size5.25 AC / 228,690 SF

Payment Calculator

$10,273 per month

30 year fixed, 7.25% Interest

Principal and Interest

$9,800

Property Taxes

$474

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 2551 North Michigan Road

Summary
Location and General Information
  • City: Shelbyville
  • County Or Parish: Shelby
  • Directions: From intersection of State Road 9 and Interstate 74 head north on State Road 9 to West Bassett Road head West to North Michigan Road and go North, property on left.
  • Postal Code: 46176
  • State Or Province: IN
Taxes and HOA Information
  • Parcel Number: Multiple See Remarks
  • Semi Annual Property Tax Amt: 2841
  • Tax Exemption: None
  • Tax Year: 2022
School Information
  • School District: Shelbyville Central
Owner
  • Owner Pays: NotApplic
Property
Lot Information
  • Acreage: 5-10 Acres
  • Building Area Source: Assessor
  • Building Information: Other
  • Lot Description: Other
  • Lot Number: 0
  • Lot Size: 228690
  • MLS: MIBOR
  • Sqft Total: 0.0
  • Structure Type: Apartment Building
  • Sq Ft Total: 0.0
  • Year Built Numeric: 1984
Property and Assessments
  • Affected by Disclosures: 0
  • Conversion: 0
  • Documents: Not Applicable
  • Inspection Warranties: Not Applicable
  • Investment: 1
  • Legal Subdivision: PT NW 19 13 7
  • Photos Count: 44
  • Property Sub Type: Commercial Units - 5+
  • Transaction Type: Sale
Green Features
  • Green Certification: 0
Utilities
  • Building Utilities: Other
  • Solid Waste: 0
Interior and Exterior Features
Exterior Features
  • Construction Materials: Brick
Interior Features
  • Levels: One
  • Laundry: Other
Room Information
Room Information
  • Rooms MU: 0
  • Rooms Total MU: 0
  • Total Rooms: 0
Bathrooms
  • Bathrooms Full: 0
  • Bathrooms Half: 0
  • Bathrooms Total Count: 0
  • Full Baths MU: 0
  • Half Baths MU: 0
Bedrooms
  • Beds MU: 0
  • Bedrooms MU: 0
  • Bedrooms Total: 0
Multi Family
Multi-Family Information
  • Total Units: 16
  • Garage Parking: Parking Lot
Income & Expenses
  • Expenses: 28427
  • Gross Operating Income: 151296
  • Insurance Expenses: 4800
  • Net Operating Income: $122,869.00
Unit 1
  • Unit Kitchen: 11x12
  • Unit Levels: 1.0000
  • Unit Master Bedroom: 10x12
  • Unit Miscellaneous: Other
  • Unit Num of Bathrooms: 1.0000
  • Unit Num of Bedrooms: 2
  • Unit Num of Rooms: 5
  • Unit Num of Units: 14
  • Unit Rent Frequency: Monthly
  • Unit SqFt: 768
  • Unit Utilities: Other
Unit 2
  • Unit Kitchen: 11x12
  • Unit Levels: 1.0000
  • Unit Master Bedroom: 10x12
  • Unit Miscellaneous: Other
  • Unit Num of Bathrooms: 1.0000
  • Unit Num of Bedrooms: 1
  • Unit Num of Rooms: 5
  • Unit Num of Units: 1
  • Unit Rent Frequency: Monthly
  • Unit SqFt: 576
  • Unit Utilities: Other
Unit 3
  • Unit Kitchen: 11x12
  • Unit Levels: 1.0000
  • Unit Master Bedroom: 10x12
  • Unit Miscellaneous: Other
  • Unit Num of Bathrooms: 1.0000
  • Unit Num of Bedrooms: 3
  • Unit Num of Rooms: 5
  • Unit Num of Units: 1
  • Unit Rent Frequency: Monthly
  • Unit SqFt: 768
  • Unit Utilities: Other
Rental
Rental Information
  • Tenant Pays: NotApplic

Property History for 2551 North Michigan Road

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Schools near 2551 North Michigan Road

This home is within Shelbyville Central Schools.
Rating
School
Type
Grades
Distance
Public - K to 5
Public - 6 to 8
Public - 9 to 12
Rating
School
Distance
Coulston Elementary School
PublicK to 5

Shelbyville Middle School
Public6 to 8

Shelbyville Sr High School
Public9 to 12

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

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2551 North Michigan Road is a multi-family home for sale in Shelbyville, IN 46176. This property was listed for sale on July 25, 2022 by BAFO, it's currently listed at $1,795,650. This listing's school district is Shelbyville Central Schools. Nearby schools include Coulston Elementary School, Shelbyville Middle School and Shelbyville Sr High School. 2551 North Michigan Road is a 0-bed, 0-bath, multi-family home built in 1984.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of BAFO

Based on information from one of the following Multiple Listing Services: MIBOR MLS,IRMLS,Southern Indiana REALTORS® Association,Southeastern Indiana Board of REALTORS. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by MIBOR MLS,IRMLS,Southern Indiana REALTORS® Association,Southeastern Indiana Board of REALTORS is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.