2004 Mccord RD, Valparaiso, IN 46383
2004 Mccord RD, Valparaiso, IN 46383
2004 Mccord RD, Valparaiso, IN 46383
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$2,900,000
Est. payment /mo
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17,280 SqFt
Active

2004 Mccord RD Valparaiso, IN 46383

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Maurice Cornett

Maurice Cornett

+1(219) 781-1169

UPDATED:

Key Details

Property Type Commercial

Sub Type Multi Family

Listing Status Active

Purchase Type For Sale

Square Footage 17,280 sqft

Price per Sqft $167

Subdivision Jefferson Park 12Th Add

MLS Listing ID 845033

HOA Y/N No

Year Built 1986

Annual Tax Amount $37,855

Tax Year 2025

Lot Size 1.520 Acres

Acres 1.52

Property Sub-Type Multi Family

Property Description

Five separately parceled four-unit buildings, held in common ownership and offered together as a single 20-unit portfolio in Valparaiso: 2004 McCord Road, plus 1302 Sturdy Road, 1304 Sturdy Road, 1306 Sturdy Road and 1308 Sturdy Road. All 20 units are two-bedroom, one-bath, averaging 864 SF, totaling 17,280 SF of building area on 1.52 acres. Each two-story building is paired with its own detached four-car garage, 20 private garage spaces, every one with an electric opener, an amenity uncommon in this unit-size band. Furnaces, A/C units and water heaters are individual to each unit, keeping capital planning incremental. Tenants pay water, sewer, trash, electric and gas, leaving ownership responsible only for common electric, lawn and snow, insurance, taxes and management, an expense ratio of 27.3 percent. In-place rents average 1,229 dollars per month against a pro forma of 1,475, a spread of 20 percent that local comparables support: three recent Valparaiso two-bedroom leases average 1,520. On a trailing basis the portfolio produces effective income of 291,538 and NOI of 212,019, a going-in return of 7.31 percent. Roughly 200,000 dollars of capital has already been deployed on unit rehabs and mechanical work.

Location

State IN

County Porter

Interior

Heating Forced Air

Fireplace N

Appliance Dishwasher, Refrigerator, Gas Range

Exterior

Parking Features Detached, On Street, Concrete

View Y/N true

Building

Sewer Public Sewer

Water Public

Others

Tax ID 641018454001000004

Acceptable Financing NRA20260909182141359820000000

Listing Terms NRA20260909182141359820000000

Listed by Ellsbury Group • Tariq Suboh

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Maurice Cornett

Maurice Cornett

Broker Associate License ID: 19001105, 3607323, 475.201736

+1(219) 781-1169

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2004 Mccord RD