415 N Washington Street, Warsaw, IN 46580
Local realty services provided by:CENTURY 21 Scheetz
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....
Contact an agent
Home facts
- Year built:1890
- Subdivision & Development:Hood & Britton
- Listing ID #:202637922
- Added:46 day(s) ago
- Updated:October 31, 2026 at 08:27 AM
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
New listings near 415 N Washington Street
- Coming Soon
$280,000Coming Soon3 beds 2 baths2,500 sq. ft.313 N 225 E, Warsaw, IN 46582
MLS# 202345398Listed by: COLDWELL BANKER REAL ESTATE GROUP - New
$274,900Active3 beds 2 baths1,586 sq. ft.1124 E Main Street, Warsaw, IN 46580
MLS# 202644962Listed by: PERFECT LOCATION REALTY - New
$349,900Active3 beds 3 baths1,934 sq. ft.371 Baythorne Drive, Warsaw, IN 46580
MLS# 202644947Listed by: COLDWELL BANKER REAL ESTATE GR - New
$228,000Active4 beds 2 baths2,218 sq. ft.208 E Winona Avenue, Warsaw, IN 46580
MLS# 202644718Listed by: RE/MAX RESULTS - New
$269,900Active3 beds 2 baths1,404 sq. ft.4222 N Lighthouse Drive, Warsaw, IN 46582
MLS# 202644500Listed by: RE/MAX RESULTS - New
$144,900Active3 beds 1 baths1,107 sq. ft.1609 Green Hill Drive, Warsaw, IN 46580
MLS# 202644449Listed by: HOMES LAND & LAKES REALTY
$239,900Pending3 beds 2 baths1,378 sq. ft.3159 W Crystal Lake Road, Warsaw, IN 46580
MLS# 202644320Listed by: RE/MAX RESULTS
$79,000Pending4 beds 2 baths1,936 sq. ft.2005 E Market Street, Warsaw, IN 46580
MLS# 202644350Listed by: KERI HIR- New
$129,900Active3 beds 1 baths1,352 sq. ft.418 W Fort Wayne Street, Warsaw, IN 46580
MLS# 202644197Listed by: OUR HOUSE REAL ESTATE - New
$675,000Active2 beds 1 baths1,008 sq. ft.7878 W Old Road 30, Warsaw, IN 46580
MLS# 202644133Listed by: EXP REALTY, LLC