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7 Beds
7 Baths
3,714 sqft

$885,000

514 Lake Shore Drive, Michigan City IN, 46360

Price per sqft$238.29
Built in1919
Property size3,714 sqft
Property typeMulti-family

Overview

Active

Listed Nov 8, 2025

Updated 2 weeks ago

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.

$5,888/mo

Est. mortgage payment based on a $885,000 home price.

All estimates are provided by Luxury Presence for informational purposes only. Actual amounts may vary.

Additional information

MLS® ID
830554

Interior Features

Bedrooms
7
Bathrooms
7
Heating
Yes
Basement
Yes

Exterior Features

Lot Size
0.08 Acres

Other Property Details

Taxes
$9,675
Tax Frequency
Annually
Maintenance Expense
$1
View
Yes
Waterfront
Yes

Also listed on LBAR / IRMLS

Courtesy of Listing Leaders Executive RE, Kimberly Sut,
Listing Contact: (219) 669-6081 

Listings courtesy of Northwest Indiana REALTOR Association as distributed by MLS GRID

All information deemed reliable but not guaranteed and should be independently verified. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) nor Lesley Sweeney shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. Properties displayed may be listed or sold by various participants in the MLS. 

Based on information submitted to the MLS GRID as of 4:50 AM UTC on 9/5/2026. All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.

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