$500,000
$539,900
7.4%For more information regarding the value of a property, please contact us for a free consultation.
6 Beds
6 Baths
4,636 SqFt
SOLD DATE : 12/06/2024
Key Details
Sold Price $500,000
Property Type Single Family Home
Sub Type Other
Listing Status Sold
Purchase Type For Sale
Square Footage 4,636 sqft
MLS Listing ID 202406133
Sold Date 12/06/24
Style Other
Bedrooms 6
Full Baths 6
Abv Grd Liv Area 3,336
Total Fin. Sqft 4636
Year Built 1885
Annual Tax Amount $3,000
Tax Year 2023
Lot Size 8,712 Sqft
Property Sub-Type Other
Property Description
Discover a rare investment opportunity in the heart of Hamilton, Indiana – a 6-unit mixed-use property with 60 feet of lake frontage on Hamilton Lake. Nestled in a thriving lake community, this property presents a variety of potential uses. The current setup includes three 1-bedroom apartments for stable long-term rentals, and a fully furnished 3-bedroom apartment catering to the burgeoning demand for turnkey short-term rentals. Two storefront commercial spaces situated ideally at the main hub of Hamilton's activity offer prime visibility for businesses. Not to mention 4 dock slips that you can rent to others and use for yourself! Convenience is key with a private off-street driveway and a 1-car detached garage for added storage. Currently cash flowing, this property holds the promise of increased returns. Imagine running a multi-unit short-term rental business, leasing out office spaces, and enjoying a dock slip for your boat. Hamilton Lake, an all-sports lake spanning 800 acres, offers fishing, boating, and water recreation. Nearby golf courses and lakefront restaurants accessible by boat add to the appeal. Abundant options make this property a great setup for several use scenarios. Run a multi-unit Short Term Rental business and rent the commercial spaces to local businesses. Live in one unit, use a commercial space for your business, and let the remaining units contribute to covering your investment. Within walking distance to the public beach, adjacent to the popular Howie's on Hamilton restaurant, and part of a golf cart community, this property embodies value in a growing lake town. Seize the opportunity to own a piece of Hamilton's lakeside charm – where imagination knows no bounds, and the potential for this value-add property is as vast as the lake itself.
Location
State IN
County Steuben County
Area Steuben County
Direction Second building on the Northeast corner of Bellefontaine Rd and Wayne St. in Hamilton, IN.
Rooms
Family Room 850 x 800
Dining Room 0 x 2000
Kitchen , 750
Interior
Flooring Mixed
Fireplaces Number 3
Appliance Building, Land, Lease
Laundry , 3
Exterior
Garage Spaces 1.0
Fence None
Amenities Available Basement, Ceiling Fan, Fireplace, Off Street Parking, Deck Open, Deck on Waterfront, Garage Door Opener, Patio Covered, Patio Open
Waterfront Description Lake
Roof Type Flat,Metal
Total Parking Spaces 3
Building
Lot Description Lake, Level, Waterfront, Water View
Story 3
Structure Type Block,Vinyl
New Construction No
Schools
Elementary Schools Hamilton
Middle Schools Hamilton Middle
High Schools Hamilton
School District Hamilton Community
Others
Financing Cash,Conventional,Lease w/Option to Buy
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IDX information provided by the Indiana Regional MLS
Bought with Scott Marker • Anchor Realty
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Broker-Owner | Lic# RB14027336