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328 N State Street 1-5, Kendallville, IN 46755

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For Sale

$400,000

12 beds • 5 baths • 4,078 sqft

Estimated Payment

$      /mo. †

APR for 30 years

Change Loan Terms

  • Multi-Family (2-4 Units)
    Property type

  • Newly Listed
    Time on Century 21

  • $98.09
    Price per square foot

  • Basement
    Rooms

Explore this Property

Investment Opportunity Cash-Flowing 5-Plex in Kendallville! This purpose-built 5-unit property offers over 4,000 sq. ft. and has strong cash flow potential with room to raise rents. Current monthly rents total $3,970, and once the two recently renovated units are re-leased, projected income will increase to around $4,200/month. Each unit is separately metered with split utilities, individual water heaters, and two units even have their own gas meters. Recent updates include a newer metal roof, vinyl siding, and updated water heaters. Tenants enjoy ample off-street parking and a convenient location close to schools, shopping, and downtown Kendallville. This is a rare chance to own a true multi-family income property with tenants already in place. Whether you re looking to expand your portfolio or step into investment real estate with a strong performer, this 5-plex is the one to see!
MLS# 202540110

Courtesy Of Open Door Rentals and Real Estate LLC

(260) 333-7368

Property Features

  • Appliances
    Range
  • Architecture Style
    Other
  • Floor Covering
    Vinyl
  • Heating System
    Baseboard, Forced Air
  • Lot Size
    0.25 Acres
  • Rooms
    Basement

Map and Directions

Directions to 328 N State Street 1-5, Kendallville, IN 46755

Home seller CENTURY 21 Bradley Realty, Inc.

Get to know the neighborhood. A local affiliated CENTURY 21 office will help you set up tours, give advice, and negotiate with sellers.

CENTURY 21 Bradley Realty, Inc.

(260) 399-1177
Learn More About Us

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Monthly Payment Breakdown

  • Principle and Interest
    $0
  • Property Taxes
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  • Hazard Insurance
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  • Private Mortgage Insurance
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  • HOA Dues
    $0
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Calculators provided for estimating purposes only. Consult with your lender to determine precise payment requirements.

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Copyright © 2025 Upstate Alliance of REALTORS® Multiple Listing Service, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified. Information being provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information being provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.

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This information is provided for general informational purposes only and should not be relied on in making any home-buying decisions. School information does not guarantee enrollment. Contact a local real estate professional or the school district(s) for current information on schools. This information is not intended for use in determining a person's eligibility to attend a school or to use or benefit from other city, town or local services.

† Based on a 30-year fixed rate of 3.38% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Interest rates are also subject to credit and property approval based on secondary market guidelines. The rates shown are based on average rates for our best qualified customers. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.