Over 6% cap rate! Located at the intersection of the highly desirable Herron Morton and Old Northside neighborhoods, this 12 unit property offers a prime opportunity for experienced landlords, or investors entering the multifamily market. The complex consists of three all brick buildings, four units each. Each unit features a… Read More spacious two bedroom, one bath layout with lots of natural light. Each unit is currently leased for $895-$995 per month. All leases will renew at $995. With a fantastic 95% occupancy rate maintained over the past several years, this proven income-producing asset delivers consistent cash flow, long term stability, and strong investment potential. Inquire for rent roll, expenses, and utilities. Residents pay their own electric; all units are individually metered. No gas. Owner pays water, sewer, & common area electric bills, and residents pay $50/month for utilities on top of rents listed above. Residents with pets pay additional $25/month. Each unit has its own furnace, central air, and water heater. Refrigerators and ovens in each unit. Coin operated laundry units and more storage in the basements of each building. Water heaters are located in basements. All units share one large trash dumpster in the alley. Current lease rates and dates by request. One unit is recently vacant and available for showings. (Other units can be accessed upon accepted offer.) Current property management company is willing to continue management. Read Less
Courtesy of Keller Williams Indy Metro S.
Listing Snapshot
Days Online
1
Last Updated
Property Type
Multi-Family 5+
Square Ft.
17,028
Lot Size
0.36 Acres
Year Built
1930
MLS Number
22103331
30 Days Snapshot Of 46202
$476k
-3%
(avg) sold price
31
+34%
homes sold
89
-32%
(avg) days on market
Snapshot
Area Map
Additional Details
Building
Building Area: 17028, Construction Materials: "Brick", Year Built: 1930
Listings courtesy of MIBOR Broker Listing Cooperative as distributed by MLS GRID, based on information submitted to the MLS GRID as of . Information is provided exclusively for consumers' personal noncommercial 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 by MLS GRID. 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 be listed or sold by various participants in the MLS, who may not be the office/agent presenting the information.
Confirm your time
Fill in your details and we will contact you to confirm a time.