AMAZING OPPORTUNITY TO OWN 4PLEX IN HEART OF INDIANAPOLIS REDEVEL

[Charlene Gaard]

4plex in the heart of redevelopment area! $89,000

Currently 1 unit is rented for $600 per month. The other 3 have been previously rented for $600 + $400 + $400. Vacant units are clean and rent ready. That's $2000 gross income per month. Baseboard heat with all units metered separately for electric. With a little work remaining from last tenants move out this could be a true home run property! The white stuff on the hardwood floors is white paint. A contractor said that it is likely they can clean that off so the hardwood floors would be able to remain! Taxes are only $941 per year currently. This could make a great addition to an investor's portfolio! Please note that while this has been used as a 4plex the legal zoning is as a duplex so a variance may be needed.

Proforma


Gross Operating Income $24000

Expenses

Annual Property taxes $941
Property Management $2400
Insurance $800

Total $4141

Net Operating Income $19,859

Purchase Price $89,000