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Active
    • Price cut: $51K (6/12)
    $899,000

    514 Lake Shore Dr, Michigan City, IN 46360

    7beds
    3,714sqft
    : 
    $5,802/mo
    Get pre-qualified
    Multi Family
    Built in 1919
    -- sqft lot
    $-- Zestimate®
    $--/sqft
    $-- HOA

    What's special

    Proximity to sheridan beach
    Investors—Income Opportunity in Sheridan Beach! 7 occupied units! Well maintained property! Welcome to 514 Lakeshore Drive, Michigan City, located in the desirable Sheridan Beach neighborhood, just one block from Lake Michigan. This DSCR-friendly property offers strong potential for long-term rental income, short-term rental use (buyer to verify), or portfolio growth. Consistent rental demand is supported by proximity to Sheridan Beach, Washington Park, the marina, Uptown Arts District, Blue Chip Casino, and the South Shore Train Station, offering convenient access for commuters to Chicago. Ideal for cash, DSCR, or portfolio investors seeking an income-producing property in one of Northwest Indiana's most sought-after lakefront areas. Located 1 block away from the beach!! This is a must see in-person.
    291 days
    |
    468
    |
    14
    |

    Zillow last checked:

    Listing updated:

    Listed by:

    Kimberly Sut 219-669-6081,

    Listing Leaders Executive Real Estate Group, LLC

    Source: IRMLS,MLS#: 202545357MLS Logo

      Facts & features

      Interior

      Bedrooms & bathrooms
      • Bedrooms: 7
      • Bathrooms: 7
      • Full bathrooms: 7
      Heating
      • Multiple Heating Systems
      Cooling
      • Window Unit(s)
      Features
      • Flooring: Mixed
      • Basement: Full,Block
      Interior area
      • Total structure area: 5,244
      • Total interior livable area: 3,714 sqft
      • Finished area above ground: 3,714
      • Finished area below ground: 0
      Video & virtual tour

      Property

      Parking
      • Total spaces: 4
      Features
      • Levels: Two
      • Stories: 2
      Lot
      • Size: 3,484 Square Feet
      • Dimensions: 48x76
      • Features: Level
      Details
      • Additional structures: None
      • Parcel number: 460121311018.000022

      Construction

      Type & style
      • Home type: MultiFamily
      • Property subtype: Multi Family
      Materials
      • Brick, Wood Siding
      • Foundation: Basement
      Condition
      • New construction: No
      • Year built: 1919

      Utilities & green energy

      • Sewer: Public Sewer
      • Water: Public

      Community & HOA

      Community
      • Subdivision: None
      Location
      • Region: Michigan City

      Financial & listing details

      • Tax assessed value: $441,500
      • Annual tax amount: $1
      • Date on market: 11/8/2025
      • Inclusions: Building
      • Lease term: Month To Month
      • Total actual rent: 71761
      • Tenant pays: Cooling, Electricity, Heating, Sewer, Water

        Estimated market value

        Not available

        Estimated sales range

        Not available

        $895/mo

        Price history

        DateEventPrice
        6/12/2026Price change$899,000-5.4%
        Source: IRMLS #202545357 Report a problem
        3/2/2026Price change$950,000-4.5%
        Source: IRMLS #202545357 Report a problem
        12/5/2025Price change$995,000-2.5%$268/sqft
        Source: NIRA as distributed by MLS GRID #830554 Report a problem
        11/8/2025Listed for sale$1,020,000+191.4%$275/sqft
        Source: NIRA as distributed by MLS GRID #830554 Report a problem
        2/27/2025Listing removed$775
        Source: Zillow Rentals Report a problem
        2/8/2025Listed for rent$775
        Source: Zillow Rentals Report a problem
        6/15/2006Sold$350,000$94/sqft
        Source: NIRA as distributed by MLS GRID #155758 Report a problem

        Public tax history

        YearProperty taxesTax assessment
        2025$8,836 $441,500
        2024$8,836 -6.7%$441,500
        2023$9,474 +43.8%$441,500 -6.7%
        2022$6,590 +0.6%$473,400 +4.7%
        2021$6,552 $452,300 +38.2%
        2020$6,552 +11.7%$327,300
        2019$5,868 -9.6%$327,300 +16.6%
        2018$6,492 -7.6%$280,800 -12.2%
        2017$7,027 +12.4%$319,800 -5.5%
        2016$6,253 +0.4%$338,400 -7.3%
        2014$6,226 -20.3%$364,900 -3.7%
        2013$7,814 $378,800 +3.2%
        2010-- $367,100 +43.3%
        2006$5,655 $256,200 +101.9%
        2005-- $126,900
        Find assessor info on the county website

        Monthly payment

        Est. payment

        Payment breakdown

        Explore the cost of this home by adjusting the details. Changes won't be saved.
        All calculations are estimates and provided by Zillow, Inc. for informational purposes only. Actual amounts may vary.
        HOA fees may include property taxes on listings classified as Co-Ops. Contact the listing agent and/or owner for fee details.
        See how much you could borrow to make a competitive offer.
        Get pre-qualified

        Climate risks

        Neighborhood: 46360

        Getting around

        12 / 100
        Car-Dependent
        12 / 100
        Somewhat Bikeable

        Nearby schools

        GreatSchools rating
        Schools provided by the listing agent
        • Elementary: Lake Hills
        • Middle: Martin Krueger
        • High: Michigan City
        • District: Michigan City Area Schools

        Source: IRMLS. This data may not be complete. We recommend contacting the local school district to confirm school assignments for this home.

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