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$240,000

For Sale

3 days ago

402 W Mishawaka Ave, Mishawaka, IN

House

MLS® 202635447

4 Bed

4 Bath

3252 sqft

3 Parking

Key Facts
Description
Map

Key Facts

Type

Levels Residential Income

Size 3252 sqft

Garage Yes

Taxes $3,586

Days Active 4

Lot Size 0.118 Acres

Approx. Age 1890

Avg. Price Per Sqft $73

MLS® Number 202635447

Property Address: 402 W Mishawaka Ave, Mishawaka, IN, 46545-6015

Average square foot calculated using Size range provided by listing agent.

Description

Rare prime investment opportunity directly on the bustling Mishawaka Avenue corridor, situated right across from the scenic Riverwalk! This heavily trafficked, central location offers incredible visibility for the commercial space and unbeatable convenience for residential tenants who want to be minutes from dining, shopping, and major roadways. This versatile mixed-use property features four income-generating spaces, including three residential apartments and one storefront. The first one-bedroom apartment is vacant, fully turned, and completely move-in ready for an immediate tenant, featuring updates like a brand-new shower base and recently replaced appliances. The spacious two-bedroom apartment has been thoroughly cleaned and only needs a few final finishing touches before hitting the market. The second one-bedroom unit is rented, currently tenant-occupied at $900 per month on a lease through February 2027. Completing the building is a prominent commercial space with high-visibility frontage along Mishawaka Avenue, ideal for a local business, professional office, or retail shop looking to capitalize on high foot and vehicle traffic right near the river. Utilities are currently not separately metered across the units, however, the potential to sub-meter in the future and further increase net operating income is there. Parking is available for both residents and clients, featuring a one-stall detached garage with a front driveway, street parking, as well as an additional rear parking area located right in front of Unit A. Whether you are looking to owner-occupy and rent out the remaining units, or expand your portfolio with a strong, multi-stream asset in a central location where everything is just a short drive away, this property delivers immediate income and unmatched long-term appreciation potential. Opportunities with this level of location quality and value-add versatility rarely come to market.

MLS® Number202635447

Laundry Level

Central VacNo

FireplaceNo

Acreage

Exterior

GarageYes

Approx. Age1890

BasementFull

DrivewayGarage, Off Street, Street

Garage Spaces

HeatBaseboard, Forced Air, Multiple Heating Systems

A/CNone

Extras

Building, Land, Lease

Price History

-End Date

Not Sold YetSold Price

For Sale

Aug 28, 2026List Date

$240,000List Price

Home Appraisal

This property is estimated to sell between: $240,000 and $379,000.

Similar properties in this area sold on average for: $332,425

Expected to sell in 24 days. Similar properties sold in 28 days. This home has been on eXp Realty for 4 days.

The estimated sale price does not take into account many variables such as recent renovations, type of appliances, school district etc. To get a more accurate estimate please contact agent.

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