514 Lake Shore Drive Michigan City, IN $ 995,000
514 Lake Shore Drive
$ 995,000
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514 Lake Shore Drive

Michigan City, IN, 46360
$ 995,000
Bedrooms7 Baths7.0 Sq 3,714

Monthly Estimate*

$ 6,208

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Multi-Family Home for sale in Michigan City, IN

for $995,000 with 7 bedrooms and 7 full baths. This 3,714 square foot home was built in 1919.

Investors! - Income-Producing Opportunity 1 block from Sheridan Beach! Welcome to 514 Lakeshore Drive, Michigan City, Indiana a prime investment opportunity just minutes from Lake Michigan, downtown shops, and the vibrant Uptown Arts District. This property offers excellent potential for steady rental income, short-term rentals, or future redevelopment in a sought-after area near the beach and marina. Whether you're looking to expand your investment portfolio or secure your first cash-flowing property, this location provides consistent tenant demand thanks to its proximity to Blue Chip Casino, Washington Park, and the South Shore Train Station with easy access to Chicago commuters. Property Highlights: Located in the heart of Michigan City's growth corridor Walking distance to Lake Michigan beaches Minutes from shopping, dining, and entertainment Solid potential for value appreciation as redevelopment continues nearby Don't miss this opportunity to own property in one of Northwest Indiana's hottest investment markets. Updates have been made the units, roof and major mechanicals.

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Multi-Family Active

Price

$ 995,000

Bedrooms

7

Full Bath

7

Property Type

Multi-Family

Taxes

$ 9,919

Style

Apartment Building

Year Built

1919

Town/City

Michigan City

County/Region

La Porte

MLS | Web ID

202545357

Features
General
Heating Multiple Heating Systems
Cooling Window
Sewer Public
Status Active Active
Full Baths 7
Half Baths 0
Bathrooms 7
Year Built 1919
New Construction No
Tenant Pays Cooling Electric Heating Sewer Water
Subdivision None
Style Two Story
Stories Count 2
Township Michigan
Class INVESTMENT
Type Apartment Building
Age 106
Net Income 60781
Rent Income 75900
Features Basement
REO No
Status Detail 0
Area La Porte County
High School Michigan City
City Michigan City
School District Michigan City Area Schools
Total Sq Ft 5244
Elementary School Lake Hills
Middle School Martin Krueger
Legal Description 42-01-21-311-018 SHERIDAN BCH PK ADD E END LTS 5 & 6 BLK 5
Virtual Tour https://www.propertypanorama.com/instaview/irmls/202545357
Agent First Name Kimberly
Agent Last Name Sut
DOM 27
Tax Year 9919.00
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Interior
Basement Full Basement
Flooring Mixed
Beds 7
Total Number of Units 7
Microwaves 0
Refrigerators 0
Washers 0
Dryer(s) 0
Dishwasher(s) 0
Disposal(s) 0
Above Grade Bedrooms 7
Below Grade Baths 0
Below Grade Bedrooms 0
Total Rooms Below Grade 0
Ranges/Ovens 0
W/D Hookups 0
Basement Material Block
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Exterior
Exterior Brick Wood
Pool No
Number of Parking Spaces 4
Lot Size Area 3485
Lot Dimensions 48x76
Lot Description Level
Outbuilding None
Waterfront Y/N No
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* Excluded Features
List By
Kimberly Sut

Listing Agent

Listing Leaders Executive Real Estate Group, Llc

Broker

Kimberlysutnwi@gmail.com

Email

Affordability Calculator

$7,034
Per Month
88%
12%
0%
Monthly Principal & Interest
$6,208
Monthly Property Taxes
$827
Monthly Home Insurance
--
Default based on a 30-year fixed rate of 6.375% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.
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Nearby
4695470 Elementary School
1550202 Middle School
Michigan City High School High School
Pricing History
DatePricePrice ChangeDescription
12/5/2025$995,000 -2.45% Price Down
11/8/2025$1,020,000 Listed Price

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514 Lake Shore Drive, Michigan City, IN, 46360 is a Multi-Family Home for sale at $995,000 with 3,714 sqft. 514 Lake Shore Drive has 7 bedrooms, 7.0 baths, and was built in 1919. The property's zip code is 46360 which is in Michigan City, IN