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Archived over 1 year ago

$440,000

4 bd 1 ba 2774 sqft

1515 E Michigan St., Indianapolis, IN 46201

Residential SFR Occupied

Current Rent **

$3,525

Projected Rent **

$3,525

Estimated Cap Rate *

Pro Only

Estimated Cash on Cash ROI *

Pro Only

Multi-family For Sale

A profitable investment with long-term, valued tenants. This 5-unit multi-family property is 2 miles east from downtown Indianapolis, 2 miles north of Fountain Square, north or Arsenal Heights and Holy Cross. Many updates have been completed. Including but not limited to a new roof, new siding in some areas, new gutters, new soffits, replaced plumbing to the street, replaced gas lines and a new electrical panel.

The front building holds 4 units. The garage was converted into a unit. There are many newly developed residential and commercial properties nearby.

The property is 100% occupied. The new owners would have to honor and respect the leases. Tours are scheduled in advance and all tours must show proof of funds prior to touring the property. All tenants are current with their rents and are exceptional tenants. A breakdown of financials and leases are available to buyers who have submitted proof of funds or financing.

Location:

1515 E Michigan St., Indianapolis, IN 46201

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* The cap rate and cash on cash return calculations found on BiggerPockets Listings are estimated and designed to be used for informational and educational purposes only, and when used alone, do not constitute investment advice. They assume 3 months worth of expenses and estimate taxes and insurance. BiggerPockets recommends that you seek the advice of a real estate professional before making any type of investment. The results presented may not reflect the actual return of your own investments. BiggerPockets is not responsible for the consequences of any decisions or actions taken in reliance upon or as a result of the information provided by these tools. Furthermore, BiggerPockets is not responsible for any human or mechanical errors or omissions.

** Current rent and projected rent are provided by the lister.

† Rental comps are pulled by looking at property characteristics (beds, baths, structure type), date the rent listing was captured, and proximity to the searched location.

‡ Confidence levels range from low to very high. Confidence is determined by the number of recent and relevant comparable properties for any given search. A very high confidence level indicates a high number of recent and similar rental listings.