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Listed by Emily Huskey • Keller Williams Indy Metro S
$ 550,000
Est. payment | /mo
5,227 Sqft Lot
$ 550,000
Est. payment | /mo
5,227 Sqft Lot
Key Details
Property Type Multi-Family
Sub Type Quadruplex
Listing Status Active
Purchase Type For Sale
Subdivision Ritters Sub Johnson
MLS Listing ID 22105508
Year Built 1930
Tax Year 2024
Lot Size 5,227 Sqft
Acres 0.12
Property Sub-Type Quadruplex
Property Description
6% cap rate. Located at the intersection of the highly desirable Herron Morton and Old Northside neighborhoods, AND in a designated Opportunity Zone, this 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. Buildings can be purchased together as a 12 unit complex, or split into four plexes. Each building already has its own parcel number and legal description. (See BLC#22103331 for commercial 12 unit listing.) Each unit features a spacious two bedroom, one bath layout with lots of natural light. Units are 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
Rooms
Basement Daylight, Storage Space, Unfinished
Interior
Heating Electric, Forced Air
Cooling Central Air
Fireplace N
Building
Story Two
Structure Type Brick
New Construction false
Schools
School District Indianapolis Public Schools
Others
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