Residential Income For Sale

514 Lake Shore Drive, Michigan City, Indiana

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Property Description

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.

Basic Details
Property Type : Residential Income
Listing Type : For Sale
Listing ID : NRA830554
Price : $950,000
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 : Apartment
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.
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
$950,000
Agent info
Dan Kelley
Remax County Wide 1st
814 E LaSalle South Bend, IN 46617
Contact Agent