$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.
SALES PRICE: $230,000
CLOSING COSTS: $6,000
TOTAL OUTLAY: $236,000
ANNUAL RENT: $54,000
REAL ESTATE TAXES: $6,000
TOTAL OUTGOINGS: $14,280
NET ANNUAL INCOME: $39,720
This represents a fantastic cash on cash return of 16.83% per annum.