SOLD. Only $98,000 INDIANAPOLIS. Refurbished Block Of 4 Apartments. 18% Net Yield.
- Price: 98000.00 $
- Bedrooms: 12
- Bathrooms: 4
SOLD. This is a great opportunity to acquire a much improved block of 4 apartments which are located in the popular Mapleton-Fall Creek district to the north of Downtown Indianapolis. This property is in the reconstruction area of 38th Street. New Walgreens, Family Dollar, Rally's and bus stop a short walk from this location. Barber shops and hair shop next door and across the street. Great location and investment.
This four plex comprises 4 three bedroom, one bathroom apartments which have benefitted from much improvement in the last year or two including: No maintenance exterior siding, new windows, interior redecoration, new sinks, separate utilities, etc.
The property will be fully tenanted in the next couple of weeks prior to the closing of the sale. This opportunity is priced to sell quickly and is highly recommended.
Built in 1920, the property totals 5,865 square feet on a lot of 3,312 square feet.
Copies of the leases and a detailed Home Inspection Report containing numerous photos will be made available as part of the purchase process.
Enjoy a great net income of circa $18,000 per annum. This opportunity is sure to sell quickly so please contact us as soon as possible if you are interested.
Below, you will find a summary of the financials as well as some reasons as to why now is the time to invest in Indianapolis.
Purchase Price: $98,000
Closing Costs: $3,500
TOTAL OUTLAY: $101,500
RENTAL INCOME: $24,000
Property Taxes: $1,699
TOTAL OUTGOINGS: $5,839
NET INCOME: $18,161
THE NET YIELD/CAP RATE IS THEREFORE A FANTASTIC 18%
For further information or to reserve this property, please complete the enquiry form as soon as possible.