Multi unit building with attached laundromat. Has potential as a money maker. This is a must see building. East Chicago, IN- Mixed Commercial Residential building Great opportunity for investment with endless possibilities. Requiring a full rehab. 3803 Pulaski St, East Chicago, IN 46312 Low Starting bid. Mixed Laundromat and residential Building 3,704 sq ft building consisting of : Laundromat and an apartment on the first floor, 18 rooms on the second floor and a large basement. Good location close to amenities, employers and schools. The building needs a full rehab but could be great income producer. Gross income potential after rehab: $61,200/year. Description The Laundromat has good window frontage made out of glass blocks and has an employee door. Inside several laundry dries are still installed and there is some equipment left. There are stairs from the Laundromat that lead to a large basement. The basement needs a lot of work but can be turned into a very useful storage area. This Laundromat area can be up and running again or it can be used as a store, clinic or adapted to other uses. The first floor also has a 3 bedroom apartment and a storage room. The second floor has 18 residential boarding rooms but it can also be easily adapted to retail or offices or apartments. The larger rooms had sinks installed. The 18 units can be converted into larger apartments Good Location: The property is located in an urban area of East Chicago Good location close to amenities, employers and schools with a dental clinic across the road from the property. East Chicago, IN is just 24 miles from Chicago, IL. Average Household income: Within 1 mile: $41,089 * *Loopnet Excellent Value Average Asking price for retail in East Chicago: $115/ sq ft and Average Asking price / unit for Multi-Family units is $80,000 / unit (loopnet) Income Potential: Great opportunity for investment with income potential once rehabbed of $61,200/ year Retail space can be rented for $800/ month Ground floor apartment for $700/ month (Hotpads.com) 18 units at $200/ month each or can be converted into larger apartments to attract a different type of tenants. Total gross income potential: $5,100/ month ($61,200/ year) Real Estate Tax Current Assessed value: $242,400
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