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514 Lake Shore Drive
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.
From US 12 E turn left toward Franklin St, Franklin St turns right and becomes Lake Shore Dr. Home will be on the left.
| MLS # | 202545357 |
|---|---|
| Date Listed | 2025-11-08 |
| Status | Active |
| Property Type | Investment |
| Property SubType | Apartment Building |
| Finished Square Feet | 3,714 sqft |
| Total Square Feet | 5,244 sqft |
| New Construction | No |
| Style | Two Story |
| Type | Apartment Building |
| Basement | Yes |
| Bedrooms | 7 |
| Bathrooms | 7 |
| Annual Taxes | $1.00 |
| Year Taxes Payable | 9919.00 |
| Year Built | 1919 |
| Virtual Tour | propertypanorama.com » |
| Days on Market | 329 |
| Homestead Year | No |
| Full Baths | 7 Main |
| Construction | Apartment Building |
|---|---|
| Lot Size | 3,485 sq ft |
| Acreage | 0.08 Acres |
| Lot Dimensions | 48x76 |
| Fence | None |
| Area | La Porte County |
|---|---|
| County | La Porte |
| Subdivision | None |
| Township | Michigan |
| City | Michigan City |
| State | IN |
| Zip | 46360 |
| School District | Michigan City Area Schools |
|---|---|
| Elementary | Lake Hills |
| Middle School | Martin Krueger |
| High School | Michigan City |
| Assoc. Dues | $0.00 Not Applicable |
|---|
MLS# 202545357
Listing Provided Courtesy of Kimberly Sut
Listing Leaders Executive Real Estate Group, LLC
Listing updated September 4, 2026 at 10:45 am
Last checked 4 minutes ago
IDX information provided by the Indiana Regional MLS. IDX information is provided exclusively for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data is deemed reliable but is not guaranteed accurate by the MLS.