Long Beach Cove Villas

1000 Long Beach Lane
Michigan City, Indiana, 46360

Location

Michigan City, Indiana

ASSET TYPE

Multi-Family

PRICE

$10,500,000

Property Description

The subject property is a garden style 96 unit apartment complex located in Long Beach, IN. The last phase was completed in 2009. The property consists of thirty-six (36) three-bedroom, two-bathroom units (1473sf); thirty-six (36) two-bedroom, two-bathroom units (1185sf); and twenty-four (24) two bedroom-two bath units (880sf). Each unit has its own private deck or patio. Utilities are tenant paid. There are 54 private, fully enclosed garage parking spaces on-site. In addition to the existing units, there is room and sufficient demand to build an additional eighteen (18) units at this site. The primary infrastructure for additional construction (water, sewer, storm, main roadway is 90% complete). Additional work is shovel ready. The current owner/developer is willing to deliver 18 rent ready units in the same style as the existing buildings for additional consideration.

The property boasts a fully equipped fitness center, heated pool, clubhouse, meeting center and on-site leasing office. Located within walking distance of Lake Michigan and between two private golf courses, the property benefits from having the best location of any complex in the entire county. As such, occupancy is always near 100%. The opportunity with this asset lies in the long term management and rental upside of having the newest product and best location in the market.
  • Class A, 96-Unit
  • Garden Style Apartment Complex
  • 2007 & 2009 Construction
  • Best Location in County
  • 98% Occupied
  • Additional Land (or Units) Included
  • Pool, Clubhouse, Fitness Center, Garage Parking

Contact Kiser Group Listing Agent

Matt Jones

mjones@kisergroup.com773.293.5080

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