Chiafos Resorts 4983 E Indiana Beach Rd 90 Room Hotel Monticello, IN 47960 For Sale

Chiafos Resorts is a newly improved, waterfront lodging asset located immediately outside the entrance to Indiana Beach Amusement & Water Park in Monticello, Indiana. Seller financing is included, providing a flexible acquisition structure for qualified buyers. The property is currently operated in a manner similar to a multifamily asset, with longer-term occupancy and stabilized demand, while retaining the ability to operate as a traditional hotel, extended-stay lodging, or resort-style property. The asset consists of 55 total units, including 38 units that are brand-new construction and 17 units that have been completely renovated, across a diversified mix of 20 two-story 2BR / 1BA units, 18 single-story 2BR / 1BA units, and 17 hotel-style rooms with full kitchens and one bathroom. This unit composition allows the property to function effectively as workforce housing, extended-stay lodging, nightly accommodations, or a resort model depending on ownership strategy.
The property has benefited from substantial capital investment, including ground-up construction of 38 units and full renovations to the remaining 17 units, encompassing new siding, roofs, porches, kitchens, bathrooms, flooring, doors, and exterior finishes where applicable. These improvements position the asset with minimal near-term capital expenditure requirements while supporting both stable residential-style occupancy and higher-rate hospitality use.
The resort sits directly on the water and currently includes 12 completed boat docks, with approvals in place for up to 36 total docks. This represents a significant value driver tied to lake access, seasonal recreation, and premium unit positioning. Additional improvements include a 40’ x 60’ maintenance pole barn with bathroom facilities, providing on-site storage, operational support, or potential supplemental income uses.
The property is presently run in a multifamily-style operating model, benefiting from consistent workforce and seasonal tenancy, predictable cash flow, and reduced operational intensity relative to a daily hotel operation. At the same time, the physical layout, full kitchens, larger unit sizes, and waterfront setting allow for a seamless transition to a hotel, resort, or short-term rental model should a buyer elect to pursue higher-rate leisure demand.
From an investment perspective, Chiafos Resorts benefits from an irreplaceable location at the front gate of one of the Midwest’s most visited regional amusement destinations, combined with direct access to Lake Shafer and surrounding recreational amenities. White County’s diversified employment base, supported by tourism, manufacturing, utilities, healthcare, and public services, underpins year-round demand, while limited competing waterfront inventory reinforces long-term value. The combination of seller financing, new construction scale, renovated unit quality, multifamily-style stability, hospitality upside, waterfront infrastructure, and proximity to Indiana Beach positions the property as a durable, cash-producing investment with multiple viable operating paths and clear value-add potential.