Residential Income For Sale

514 Lake Shore Drive, Michigan City, Indiana

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Property Description

Rare 7-Unit Investment Opportunity in Sheridan Beach! Just one block from the shores of Lake Michigan, this fully occupied Studio units offers investors the chance to own an income-producing property in one of Northwest Indiana’s most sought-after lakefront neighborhoods. All seven one-bedroom units are occupied, with tenants paying utilities, providing immediate rental income. Located minutes from Sheridan Beach, Washington Park, the marina, Uptown Arts District, Blue Chip Casino, and the South Shore Line with direct access to downtown Chicago, this property benefits from strong rental demand and exceptional long-term appreciation potential. Whether you’re expanding your portfolio, completing a 1031 exchange, or seeking a premier Northwest Indiana investment, opportunities like this are increasingly rare. Schedule your private showing today and see why Sheridan Beach remains one of Michigan City’s most desirable investment locations.

Basic Details
Property Type : Residential Income
Listing Type : For Sale
Listing ID : NRA830554
Price : $899,000
Bedrooms : 7
Rooms : 0
Bathrooms : 7
Half Bathrooms : 0
Year Built : 1919
Lot Area : 3,648 Sqft
Status : Active
Acres : 0.0837
Property Subtype 1 : Quadruplex
Status : Active
Features
Heating System : Other
Basement : Yes
Pet Policy : No
Exterior Features : No
Interior Features : No
Appliances
Appliances : No
Address Map
Country : US
State : IN
County : La Porte
City : Michigan City
Street : Lake Shore
Street Number : 514
Street Suffix : Drive
Postal Code : 46360
Floor Number : 0
Longitude : W87° 6' 34.9''
Latitude : N41° 43' 47.5''
Directions : From US 12 E turn left toward Franklin St, Franklin St turns right and becomes Lake Shore Dr. Home will be on the left.
Subdivision : Windimere Arms
Township : Michigan
MLS Addon
Office Name : Listing Leaders Executive RE
Listing Agent MLS ID : NRA15624
Listing Office MLS ID : NRA2081
Annual Tax Amount : $9,675
HOA/POA-Annual Amt. : $0
HOA/POA-Monthly Amt. : $0
Tax Year : 2024
Residential Income For Sale
  • Listing ID : NRA830554
  • Bedrooms : 7
  • Bathrooms : 7
  • Lot Area : 3,648 Sqft
$899,000
Agent info
Dan Kelley
Remax County Wide 1st
814 E LaSalle South Bend, IN 46617
Contact Agent