514 Lake Shore Drive
Michigan City, IN 46360
7
Bed
7
Bath
0.08Acre(Lot)
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 i
Property Details
Map
Map
What's Nearby
Nearby Areas
Features
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Bedroom Information
Total Bedroom: 7Bathroom Information
Total Baths: 7 Full Baths: 7Room Information
Has Basement: YesInterior Features
None Appliances: None -
Heating & Cooling
Heating: Other Water front: 1 WaterSource: Public
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Building Information
Year Built: 1919 -
Exterior Features
None
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Lot Information
Lot Description: Other Lot Square Feet: 3648 Lot Acres: 0.0837Property Information
Property Type: Residential Income Sub Type: Quadruplex
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Tax Information
Tax Legal Description: 42-01-21-311-018 SHERIDAN BCH PK ADD E END LTS 5 & 6 BLK 5 Annual Tax: $9674.7 Tax Year: 2024 Parcel Number: 460121311018000022
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Utility Information
Electricity Connected, Water Connected, Sewer Connected, Natural Gas Connected Sewer: Public Sewer Water Source: Public -
Location Information
Subdivision: Sheridan Bch Park Add City: Michigan City Direction: From US 12 E turn left toward Franklin St, Franklin St turns right and becomes Lake Shore Dr. Home will be on the left.
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Nearby Home Value
| Address | Estimate | Bed | Bath | Sq. Ft | Lot Size |
|---|---|---|---|---|---|
| 1407 Franklin Street, Michigan City, IN, 46360 | $299,000 | 3 | 2 | -- | |
| 902 Kentucky Street, Michigan City, IN, 46360 | $189,900 | 5 | 2 | -- |
Similar Apartment To 514 Lake Shore Drive
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ByOwner last updated this listing 08/17/2026 @ 06:20
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