415 N Washington Street, Warsaw, IN 46580
Local realty services provided by:Better Homes and Gardens Real Estate Connections
Listed by: james bauschCell: 574-742-4531
Office: re/max results
MLS#:202637922
Source:Indiana Regional MLS
Price summary
- Price:$350,000
- Price per sq. ft.:$60.91
About this home
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....
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Home facts
- Year built:1890
- Subdivision & Development:Hood & Britton
- Listing ID #:202637922
- Added:9 day(s) ago
- Updated:September 24, 2026 at 03:53 PM
Rooms and interior
- Bedrooms:7
- Total bathrooms:4
- Full bathrooms:4
- Flooring:Vinyl
- Basement Description:Full Basement, Partially Finished
- Living area:5,558 sq. ft.
Heating and cooling
- Cooling:Heat Pump
- Heating:Heat Pump
Structure and exterior
- Roof:Asphalt
- Year built:1890
- Building area:5,558 sq. ft.
- Lot area:0.2 Acres
- Architectural Style:Two Story
- Construction Materials:Vinyl
- Exterior Features:Porch Covered
- Levels:2 Stories
Schools
- High school:Warsaw
- Middle school:Edgewood
- Elementary school:Washington
Utilities
- Water:City
- Sewer:City
Finances and disclosures
- Price:$350,000
- Price per sq. ft.:$60.91
- Tax amount:$2,466
Features and amenities
- Laundry features:Washer Hook-Up
- Amenities:Built-In Bookcase, Ceiling Fan, Storage, Water Heater Gas
Parking
- Garage spaces:1
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