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Listed by Emily Huskey • Keller Williams Indy Metro S
$ 1,550,000
Est. payment | /mo
17,028 SqFt
$ 1,550,000
Est. payment | /mo
17,028 SqFt
Key Details
Property Type Commercial
Sub Type Multi-Family 5+
Listing Status Active
Purchase Type For Sale
Square Footage 17,028 sqft
Price per Sqft $91
MLS Listing ID 22103331
Year Built 1930
Tax Year 2024
Lot Size 5,227 Sqft
Acres 0.12
Property Sub-Type Multi-Family 5+
Property Description
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 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.
Location
State IN
County Marion
Zoning zo01
Interior
Fireplace N
Exterior
Utilities Available Sep Electric Meter, Sewer Connected, Water Connected
Building
Structure Type Brick
New Construction false
Schools
School District Indianapolis Public Schools
Others
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