8137 Pine Island TER, Crown Point, IN 46307
8137 Pine Island TER, Crown Point, IN 46307
8137 Pine Island TER, Crown Point, IN 46307
21
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$544,900
Est. payment /mo
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22,215 SqFt
Pending

8137 Pine Island TER Crown Point, IN 46307

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Maurice Cornett

Maurice Cornett

+1(219) 781-1169

UPDATED:

Key Details

Property Type Multi-Family

Sub Type Quadruplex

Listing Status Pending

Purchase Type For Sale

Square Footage 22,215 sqft

Price per Sqft $24

MLS Listing ID 838817

HOA Y/N No

Year Built 1977

Annual Tax Amount $4,683

Tax Year 2024

Lot Size 0.510 Acres

Acres 0.51

Property Sub-Type Quadruplex

Property Description

Well-maintained 4-unit apartment building, multifamily asset located in Crown Point, Indiana sitting on 0.51 acres. Built in 1978, this 4-unit property provides a strong investment opportunity. Prime location near schools, a community park, and local amenities, including on-site laundry facility and hallway storage for occupants. Owner is responsible for water (cold/hot) in units and common area, electricity only in common area, for gas bill in common area, and home owner association fees. Units are fitted with in-wall electric air conditioning units, electric baseboard heating, and electric appliances including stove. Tenants are responsible for respective electric bills. First floor units include a walk out patio, second floor units include a balcony. A car port in front of the building provides ample parking spaces. Spacious grass surrounding the building with a small stream behind the property. Brand new, single-layer roof installed in 2017. Rent: Understandably these may be lower than what the market may dictates but the owners financial capabilities allows lower rents to minimize turnover. Current tenants between 5-14 yrs on premise. New owners would have the ability to adjust rent to meet their needs. Total revenue: 4,060/month (includes est value for one open vacancy) + Laundry revenue 200/month Expenses: - HOA 150/month includes garbage 2x week, fertilizer, and mowing/snow plowing parkway and parking lot - Water 135/mo - Elec 50/mo - Gas 50/mo Misc Details: -Gas is only in laundry room to support water heaters and dryer. No gas in units. -Water heaters 10 years -Washer (~2yrs) & Dryer (~5 yrs) are Speedqueen commercial quality. -No furnaces. -Each unit is fully electric with electric baseboard heating and electric stove. Tenants pay electricity. AC wall units: - 3 bd - 1st unit 3yrs old, 2nd unit is older unknown age. - 2 bd - all units have new AC units 1 yr old.

Location

State IN

County Lake

Interior

Interior Features Other

Heating Baseboard, Natural Gas

Fireplace N

Appliance Dryer, Washer, Range Hood, Refrigerator, Range, Gas Water Heater, Gas Range, Freezer, Electric Range, Dishwasher, Disposal

Exterior

View Y/N true

Building

Lot Description Other

Story Two

Sewer Public Sewer

Water Public

Level or Stories Two

Others

Tax ID 451124426008000036

Acceptable Financing NRA20260513212435796500000000

Listing Terms NRA20260513212435796500000000

Pets Allowed No

Listed by Beycome Brokerage Realty LLC • Steven Koleno

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Maurice Cornett

Maurice Cornett

Broker Associate License ID: 19001105, 3607323, 475.201736

+1(219) 781-1169

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8137 Pine Island TER