Near Raccoon Lake Income Property

Multi-Family for Sale
Catylist Listing ID: 29852138
Property Subtypes: Duplex/Fourplex
Number of Units: 4 Units
Building Size (RSF): 3,664 SF
Gross Building Area: See Agent
Gross Land Area: 1.92 Acres
Sale Price: $64,900
Unit Price: $16,225 Per Unit
Property Use Type: Investment
Sale Terms: Cash to Seller, Purchase Money Mortgage
Cap Rate: Undisclosed
Last Updated: 6/6/2017

Overview / Comments

PRICE REDUCED-Motivated Seller! Terrific income opportunity (Annually grosses $19,500) to own 4 units near Raccoon Lake. Property consists of triplex with common coin operated laundry facility, plenty of parking, and large yard (1.92A) for the tenants to enjoy. Some units have new carpet & fresh interior paint. Each unit is all electric & metered separately with full size water heater. Three units are 2bdrm/1 bath & one unit is an efficiency. The stand alone unit has 1464sqft with an attached carport/lean-to. Property has 2 septic systems & 1 well.

Additional Details

Nearest MSA: Indianapolis-Carmel-Anderson
County: Parke
Submarket/Township: Union
Tax ID/APN: 611209000234000015
Zoning: RESIDENTIAL
Property Located Between: Located on the West side of Raccoon Lake
Highway Access: Interstate 70 is to the south just north of Cloverdale
Airports: Indianapolis International - 17 miles from site
Site Description: 45 minutes to Indianapolis or 1 hour to Indianapolis International Airport
Area Description: Raccoon Lake: Native forest and large rock outcrops line the upper part of Big Raccoon Creek. Cecil M. Harden Lake resulted from the damming of the creek for flood control. The lake also provides recreation, wildlife management and economic benefits. A variety of fish, flora and fauna can be viewed at the property. Nearby Historic Mansfield Roller Mill is a preserved, working example of industrialization in Indiana at the turn of the 20th century. This 1880s flour mill uses machinery from that time to show visitors how flour and cornmeal were processed from wheat and corn. It is an almost complete and unchanged example of flour mills from this time period.
Total Number of Buildings: 4
Property Condition: Average
Number of Stories: 1
Year Built: 1987
Construction/Siding: Aluminum Siding
Exterior Description: triplex and 1 stand alone SFD
Parking Type: Surface
Parking Description: Parking lot in front of triplex and lane toward back of 1.92 A leads to SFD unit
Laundry: Shared
Sprinklers: None
Heat Type: Electricity
Heat Source: Baseboard, Wall Units
Fuel: Electric
Air Conditioning: Other
Internet Access: Satellite
Interior Description: Some units have been updated with new carpeting and freshly painted interiors. Each unit has it's own full size water heater, electric baseboard heat, and wall a/c unit. Shared well and 2 septic systems on property.
Zoning Description: Zoned residential
Water Service: Well
Sewer Type: Septic
Legal Description: PT NE 1/4 9-15-6 1.92

Demographic Statistics

Proximity: 3 miles 5 miles
Total Population: 2,034 3,031
Median Age: 48.83 43.87
Households: 707 1,040

Contact

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