684-670 Strong Avenue

Elkhart, IN 46514

$2,890,000
Price
32
Beds
32
Baths
22,020 Sq. Ft.
$131 / Sq. Ft.
22,020
Sq. Ft.
$131
per Sq. Ft.

Description

Investment opportunity! 8 multi family buildings/32 apartments with great cash flow. Average rent is $900/month/apartment. 9% cap rate. These would make a perfect 1031 exchange investment. Located in the popular Strong Avenue area of Elkhart. Close to the Riverwalk, Aquatic Center, restaurants, shops and all that downtown Elkhart has to offer.Investment opportunity! 8 multi family buildings/32 apartments with great cash flow. Average rent is $900/month/apartment. 9% cap rate. These would make a perfect 1031 exchange investment. Located in the popular Strong Avenue area of Elkhart. Close to the Riverwalk, Aquatic Center, restaurants, shops and all that downtown Elkhart has to offer.
  1. Listed by Heidi Gaskill • Berkshire Hathaway HomeServices Elkhart

Property Details for 684-670 Strong Avenue

Style
Two Story
Subdivision
None
Waterfront
No
Pet Restrictions
No

Location

Listing Courtesy of Berkshire Hathaway HomeServices Elkhart
Add your commute
LISTING UPDATED: 01/17/2024 03:24 PM

Property Details for 684-670 Strong Avenue

StatusActive
MLS #202401364
Days on Market111
Taxes$16,051 / year
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeMulti Family / Fourplex
Year Built1926
Lot Size1.00 AC / 43,560 SF
CountyElkhart County

Location

Listing Courtesy of Berkshire Hathaway HomeServices Elkhart
Add your commute

Building Information for 684-670 Strong Avenue

Stories2Residences32Year Built1926Building Size-Lot Size1.00 AC / 43,560 SF

Payment Calculator

$17,109 per month

30 year fixed, 7.25% Interest

Principal and Interest

$15,772

Property Taxes

$1,338

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 684-670 Strong Avenue

Summary
Location and General Information
  • Area: Elkhart County
  • City: Elkhart
  • Zip Code: 46514
  • State: IN
  • Township: Concord
  • Geo Latitude: 42
  • Geo Longitude: -86
  • Fips Code: 18039
  • Directions To Property: N. Riverside to Strong
Taxes and HOA
  • Assoc Dues Frequency: Not Applicable
  • Year Taxes Payable: 2023
  • Parcel Number Id: 20-06-06-440-004.000-012
  • Parcel Id 2: 20-06-05-303-008.000-012
School Information
  • School District: Elkhart Community Schools
  • Elementary: Mary Daly
  • Middle School: West Side
  • High School: Elkhart
Parking
  • Number Of Parking Spaces: 32
  • Parking: Gravel, Off Street, Street
Property
Lot Information
  • Class: INVESTMENT
  • Property Subtype: Fourplex
  • Approx Lot Size Acres: 1.0
  • Lot Dimensions: 200 x 218
  • Below Grade Unfin Sqft: 9675.0
  • Total Square Feet: 31695.0
  • Approx Lot Size Sqft: 43560.0
  • Above Grade Finished Sqft: 22020.0
  • Below Grade Finished Sqft: 0.0
  • Total Below Grade Sqft: 9675.0
  • Total Finished Sqft: 22020.0
  • Above Grade Unfin Sqft: 0.0
  • Lot Description: Level
Property and Assessments
  • New Construction: No
  • Year Built: 1926
  • Age: 98
  • Documents Available: LBP Form, Sellers Disclosure, Rent Roll
  • Planned Unit Development: No
Green Features
  • Exemptions: No Exemptions
Utilities
  • Sewer: City
  • Water Utility: City
Interior and Exterior Features
Exterior Features
  • Amenities: Off Street Parking, Eat-In Kitchen
  • Exterior: Aluminum
  • Outbuilding: None
  • Platted: Yes
  • Pool: No
  • Roof Material: Asphalt
Interior Features
  • Number of Dishwashers: 0
  • Number of Disposals: 0
  • Number of Dryers: 0
  • Number of Microwaves: 0
  • Number of Ranges/Ovens: 32
  • Number of Refrigerators: 32
  • Number of W/D Hookups: 0
  • Number of Washers: 0
  • Basement: Yes
  • Basement/Foundation: Michigan Basement
  • Cooling: None
  • Flooring: Carpet, Laminate
  • Heating/Fuel: Hot Water
  • Stories: 2
  • Number of Above Grade Bedrooms: 32
  • Number of Below Grade Baths: 0
  • Number of Below Grade Bedrooms: 0
  • Total Number of Bedrooms: 32
  • Total Number of Full Baths: 32
  • Total Number of Half Baths: 0
  • Total Baths: 32
  • Number Total Rooms Below Grade: 8
  • Num Of 1 Bedrooms: 32
  • Num Of 2 Bedrooms: 0
  • Num Of 3 Bedrooms: 0
  • Num Of 4 Bedrooms: 0
Multi Family
Multi-Family Information
  • Num of Efficiencies: 0
  • Num of Units Rented: 24
  • Number of Units: 32
Income & Expenses Information
  • Annual Electric Expense: $.00
  • Annual Fuel Expense: $6,648.00
  • Annual Gross Rent $: $315,360
  • Annual Insurance Expense: $6,500
  • Annual Maint. Expense: $0
  • Annual Misc: $0
  • Annual Net Income: $280,785
  • Annual Property Tax: $16,051
  • Annual Trash Expense: $0
  • Annual Water/Sewer Exp: $5,376
  • Gross Monthly Income: $26,280
  • Gross Monthly Rent: $26,280
Rental
Rental Information
  • Lease Term: 1 Year
  • Owner Pays: Building Insurance, Fuel, Lawn Maintenance, Sewer, Snow Removal, Tax, Trash Collection, Water
  • Tenant Pays: Electric

Property History for 684-670 Strong Avenue

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

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

Schools near 684-670 Strong Avenue

This home is within Elkhart Community Schools.
Rating
School
Type
Grades
Distance
Public - K to 6
Public - 7 to 8
Public - 9 to 12
Public - 2 to 12
Rating
School
Distance
Daly Elementary School
PublicK to 6

West Side Middle School
Public7 to 8

Elkhart Central High School
Public9 to 12

Elkhart Alternative Education
Public2 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.

Similar Homes

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Similar Sold Homes

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684-670 Strong Avenue is a multi-family home for sale in Elkhart, IN 46514. This property was listed for sale on January 12, 2024 by Berkshire Hathaway HomeServices Elkhart, it's currently listed at $2,890,000. This listing's school district is Elkhart Community Schools. Nearby schools include Daly Elementary School, West Side Middle School and Elkhart Central High School. 684-670 Strong Avenue is a 32-bed, 32-bath, 22,020 sqft multi-family home built in 1926.

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 Berkshire Hathaway HomeServices Elkhart

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.