6 unit Multifamily Property

Multi-Family for Sale
Sale Pending/Contingent
Catylist Listing ID: 30851780
Status: Pending/Contingent
Number of Units: 6 Units
Building Size (RSF): 4,171 SF
Gross Building Area: See Agent
Sale Price: $285,000
Unit Price: $47,500 Per Unit
Property Use Type: Investment
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 8/16/2023

Overview / Comments

6 units available located within walking distance of downtown Elwood. 1 parcel contains two triplexes. This property consists of two 2 bedroom/1 bath units and four 1 bedroom/1 bath units. Plenty of value add here with the current vacant units being rehabbed and ready for immediate filling of tenants and room for rent adjustments to market rates. The roof was replaced in 2017 on both buildings. 5 of 6 electric water heaters have been replaced since 2017. There is a parking lot that allows for tenants to park on property. Each unit is metered separately for electric. Tenants pay electric. Landlord pays water, sewer, trash.

Financials

Finance Data Year 2022
Real Estate Taxes - Annual($) $1,956 (Annual)
Gross Operating Income $1,750 (Annual)

Additional Details

Nearest MSA: Indianapolis-Carmel-Anderson
County: Madison
Tax ID/APN: 48-04-15-202-089.000-027
Zoning: B1
Percent Occupied: 50%
Total Number of Buildings: 2
Number of Stories: 2
Parking Type: Surface
Parking Description: Paved Asphalt
Total Parking Spaces: 8
Heat Type: Electricity
Heat Source: Baseboard
Fuel: Electric
Air Conditioning: Window Unit

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 8,039 8,039 15,101
Median Age: 38.36 38.36 40.71
Households: 3,159 3,159 6,046

Contact

Photograph of Listing Agent

Tim Hall

F.C. Tucker/Prosperity
ICREX Member
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