$230,000 INDIANAPOLIS. Refurbished And Tenanted Block Of 6 Houses. 16.83% Net Return.

  • Price: 230000.00 $
  • Bedrooms: 14
  • Bathrooms: 8
  • Size (M2): 637

FALCON CREEK BOULEVARD. This is a fantastic opportunity to acquire a condo of 6 town homes which are currently being refurbished to a high standard. Located on the west side of Indianapolis, a short distance to the south east of Eagle Creek Park and with very easy access to a number of commercial centers. This area enjoys high ongoing rental demand.

 

Built in 1973, the properties total 6,856 square foot on a lot of 1.11 acres. They comprise 2 three bedroom townhomes and 4 two bedroom townhomes.

 

These properties are currently being refurbished to a high standard and the works include: complete rewiring, complete replumbing, new kitchens and bathrooms, new flooring, roof work, complete interior and exterior redecoration and more. Everything will be as good as new.

 

Refurbishment works will be completed in the next six weeks and on closing/completion of the sale the property will be fully refurbished and 100% tenanted. Prior to closing we will provide the buyer with a Home Inspection Report and copies of all the leases for peace of mind.

 

The complex benefits from private parking for 10-12 vehicles.

 

The property thereafter will be managed by a reputable local management company with a proven track record to ensure the best possible income on an ongoing basis.

 

This opportunity is priced to sell now and is sure to sell quickly so please complete the Enquiry Form as soon as possible if you are genuinely interested.

 

THE FINANCIALS:

 

SALES PRICE:           $230,000

 

CLOSING COSTS:       $6,000    

 

TOTAL OUTLAY:        $236,000

 

ANNUAL RENT:           $54,000

 

ANNUAL OUTGOINGS:

 

REAL ESTATE TAXES: $6,000

 

INSURANCE:              $1,800

UTILITIES:                 $3,600

MANAGEMENT:            $2,880

 

 

 

TOTAL OUTGOINGS:    $14,280

 

 

 

NET ANNUAL INCOME:   $39,720

 

 

 

This represents a  fantastic cash on cash return of 16.83% per annum.     

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