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Listed by Tasheana Hanza • Hanza Realty, LLC
$ 310,000
Est. payment | /mo
0.28 Acres Lot
$ 310,000
Est. payment | /mo
0.28 Acres Lot
Key Details
Property Type Multi-Family
Sub Type Quadruplex
Listing Status Active
Purchase Type For Sale
Subdivision Carter Sub Robson & Vorhees
MLS Listing ID 22045368
Year Built 1925
Tax Year 2024
Lot Size 0.280 Acres
Acres 0.28
Property Sub-Type Quadruplex
Property Description
Turnkey 6-unit multifamily opportunity on Washington Street! This well-maintained property offers six studio-style units with strong in-place rents and solid tenants. Current monthly gross rent is $4,207, with three units rented at $680/mo, one at $340 every two weeks ($737/mo), one at $300 every two weeks ($650/mo), and one at $180/week (~$780/mo), totaling $50,484/year. Owner pays all utilities including gas, electric, water, sewer, and trash. Average monthly expenses are $588, and annual expenses are estimated at $7,056. Financials reflect a projected NOI of $43,428 with a cap rate of 12.77% at the $340,000 price point. Investors can expect an estimated 30.37% cash-on-cash return with 20% down, based on an annual cash flow of $20,651 after debt service. The property includes excellent off-street parking and is ideally located in a prime growth area, walkable to stores and public transportation. A strong, cash-flowing asset with minimal overhead and outstanding upside potential. No showings without an accepted offer. Do not disturb tenants
Location
State IN
County Marion
Interior
Fireplace N
Exterior
Garage Spaces 1.0
Building
Story Two
New Construction false
Schools
School District Indianapolis Public Schools
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