Description
Consistent earning potential in small town Indiana. This 5 unit multifamily investment property has a long, proven history of consistent rental income. Property consists of 4 one-bedroom apartments and 1 two-bedroom apartment. Rental structure is currently flat rate rents with all gas, electric, water, and sewer paid by landlord. Many of the current tenants are long term renters. Rents can be raised to keep up with market and further increase revenue. Unit #1 545 sq ft. / 1-BR / $450 / 6.5 year tenant.Unit #2 328 sq ft. / 1-BR / $485 / 2.5 year tenantUnit #3 440 sq ft. / 1-BR / $450 / 5.5 year tenantUnit #4 575 sq ft. / 1-BR / $600 / 2 year tenantUnit #5 400 sq ft. / 1-BR / $510 / 1 year tenantProperty exterior, plumbing, heating, and electrical have all been well maintained by owner. Owner is downsizing portfolio. Owner has a 9-unit building for sell a few blocks away. Owners preference would be to sell both properties together. Property owners are family relatives of listing agent.
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0BEDS
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0.15ACRES
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0BATHS
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01/2 BATHS
School Ratings & Info
Description
Consistent earning potential in small town Indiana. This 5 unit multifamily investment property has a long, proven history of consistent rental income. Property consists of 4 one-bedroom apartments and 1 two-bedroom apartment. Rental structure is currently flat rate rents with all gas, electric, water, and sewer paid by landlord. Many of the current tenants are long term renters. Rents can be raised to keep up with market and further increase revenue. Unit #1 545 sq ft. / 1-BR / $450 / 6.5 year tenant.Unit #2 328 sq ft. / 1-BR / $485 / 2.5 year tenantUnit #3 440 sq ft. / 1-BR / $450 / 5.5 year tenantUnit #4 575 sq ft. / 1-BR / $600 / 2 year tenantUnit #5 400 sq ft. / 1-BR / $510 / 1 year tenantProperty exterior, plumbing, heating, and electrical have all been well maintained by owner. Owner is downsizing portfolio. Owner has a 9-unit building for sell a few blocks away. Owners preference would be to sell both properties together. Property owners are family relatives of listing agent.
© 2023 Southern Indiana Realtors Association. All rights reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but is not guaranteed accurate by the MLS or Keller Williams Realty Consultants. Data last updated: 2023-03-25T07:04:25.873.