16BR Home in Marion , IN

About This Property

Project Summary Chapter 34 Conversion Project Overview This project involves the conversion of the existing structure at 1370 North Baldwin Avenue in Marion, Indiana into a state-approved substance use facility operating under Chapter 34. The property is situated on approximately 1.39 acres along the high-traffic State Road 9 corridor in northern Marion. The full project scope spans two phases, delivering a total of 13 units upon completion. Phase 1 rehabilitation has been initiated but has stalled due to a capital shortfall, with an immediate capital need to bring the initial 6 units to rent-ready status 5 of which are 1 bedroom and 1 of which is a 2 bedroom. Phase 2 will add 7 additional units pending completion of Phase 1 and receipt of further funding the additional 7 will be 5 one bedroom and two more 2 bedroom units. Phase 2 will require chapter 34 approval, intial drawings and architect from phase 1 is primed and ready to complete this process for new owner. Incredible development in immediate area as well as surrounding counties and cities makes this a great intial and longterm investment. Creative financing would be entertained with the right terms and buyer with appropriate experience and commitment to the project to see beneficial outcome for both parties short and long term.

Listing Source