1635 Central Avenue
Property Description
**Multiple offers received, highest and best was due 7/6. Pending home sale contingency** 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 FULL complex consists of three all brick buildings, four units each. THIS LISTING is for ONE of the buildings (4 units). 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 listing which includes ALL 12 UNITS.) 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.Broker Details
Keller Williams Indy Metro West (317) 271-5959
MLS ID: 38816 State License Number: RB17000722
Key Property Information
| Listing Status: | Pending Sale |
|---|---|
| Listing Type: | Call for offers |
| Property Types: | 2-4 Units |
| Price: | $525,000 |
| No. of Units: | 4 |
| Year Built: | 1930 |
| Opportunity Zone: | No |
| Price per unit: | $131,250 |
| Property Website | Click Here |
| Number of Bedrooms: | 2 |
| Number of Bathrooms: | 1 |
ID: 3yd-MIBORIN-22105508
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