118 E Van Buren Street
Columbia City, IN 46725

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Description

Current owner has owned this property since 1972 and has operated his insurance office and rented the balance of the main floor to a CPA firm for 42 years. Current lease runs through 5/31/2023. Upstairs is a beautiful 3 BR apartment with a bonus room and 2nd bath on the main floor that connects to the 2 car garage used by the upstairs apartment tenant. This 2 year lease runs through June 30, 2021. The property has been well cared for with many updates. Main floor commercial unit leases for $1975 per month and seller pays all utilities. Upstairs apt. rents for $700 per month and tenant pays electric and gas. Seller pays trash, water and sewer. Gas and electric are separately metered. Water & sewer have 1 meter. Upstairs rent now is $650 per month and expires 6/3019 but as of 6/30/19 rent will be $700 per month and will extended lease to 6/30/21.

Features

• Property Type: Multi Family Home
• Sub Type: Multi Family Home
• Listing Status: Active
• County/Area: Whitley County
• Zip Code: 46725
• Year Built: 1938
• Age: 81
• School District: Whitley Co Cons Schools
• Elementary School: Mary Raber
• Middle School: Indian Springs
• High School: Columbia City
• Sq.Ft.: 5,143 sq ft
• Style: Converted House
• Stories: 1.5
• Units: 2 units
• Bedrooms: 3
• Full Baths: 2
• Half Baths: 2
• Basement: Crawl, Partial Basement, Yes
• # of Parking Spaces: 8
• Lot Size: 7754 sq ft
• Baths: 4
• Zoning: B2 Central Business
• # Above Grade Bedrooms: 3
• # Electric Meters: 2
• # Gas Meters: 2
• # Of Dishwashers: 1
• # Of Disposals: 1
• # Of Dryers: 1
• # Of Microwaves: 1
• # Of Ranges/Ovens: 1
• # Of Refrigerators: 1
• # Of W/D Hookups: 1
• # Of Washers: 1
• # Ttl Rooms Below Grade: 1
• # Water Meters: 1
• Amenities: Basement, Off Street Parking, Storage, Cable Available, Cable Ready, Countertops-Laminate, Crown Molding, Eat-In Kitchen, Garage Door Opener, Storm Doors, Water Heater Gas, Water Softener-Owned, Washer Hook-Up, Custom Cabinetry
• Annual Electric Expense: 6500
• Annual Fuel Expense: 1200
• Annual Insurance Expense: 1200
• Annual Maint. Expense: 7200
• Annual Net Income: 7353.08
• Approx. Lot Size Sqft: 7754
• Basement Material: Poured Concrete
• Basement/Foundation: Crawl, Partial Basement
• Below Grade Unfin. Sqft: 540
• Cooling: Central Air
• Driveway: Asphalt
• Energy Efficient: Hvac
• Enrgy Efficient Win/Doors: Double Pane Windows, Storm Doors
• Exterior: Brick, Vinyl
• Flooring: Carpet
• Gas Company: Nipsco
• Gross Monthly Income: 2625
• Gross Monthly Rent: 2625
• Heating/Fuel: Gas, Forced Air, Hot Water
• Hvac: High Efficiency Furnace
• Lease Term: 2 Years, 3 Or More Years, Renewal Options
• Location: City/Town/Suburb
• Lot Description: Level, 0-2.9999
• Lot Dimensions: 52x149
• Main Level Sqft: 3029
• Num. Of 3 Bedrooms: 1
• Num. Of Units Rented: 2
• Number Of Buildings: 1
• Other Fees Frequency: Annually
• Owner Pays: Cooling, Electric, Fuel, Heating, Lawn Maintenance, Sewer, Snow Removal, Tax, Trash Collection, Water, Water Softener
• Parking: Paved, Private, Street
• Road Access: City
• Road Surface: Asphalt
• Roof Material: Shingle
• Sale Includes: Building, Land
• Sale/Rent/Auction: For Sale
• Sewer: City
• Tenant Pays: Cable, Electric, Fuel, Heating
• Total Below Grade Sqft: 540
• Total Finished Sqft: 5143
• Total Sqft: 5683
• Township: Columbia
• Unit 1-# Of Bathrooms: 2
• Unit 1-# Of Rooms: 14
• Unit 2-# Of Bathrooms: 2
• Unit 2-# Of Bedrooms: 3
• Unit 2-# Of Rooms: 6
• Unit 2-Garage/# Of Cars: 2
• Upper Level Sqft: 2114
• Water Utility: City