Great 48 unit apt complex on the east side of Indianapolis. Own this property with $480k 100 % vacant

$480K if you can close by the end of the year Closing cost 1st an 2nd mortgage an back taxes all included with $480k comes with limited warranty deed at this price.

Thank you for your inquiry regarding the 48 unit property in Indianapolis, Indiana.

You will find below a brief description and pictures.  There is more
information in the attachment files as well. We are also positioned to refer you to experienced property management and contractors.

If you have any questions feel free to contact me.  We look forward to
assisting you.

Best regards,

$480K if you can close by the end of the year this includes Closing cost 1st an 2nd mortgage,closing cost, an back taxes all included with only $480k total an it is yours.
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repairs:$150k to $200k
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Staughton Drive Indianapolis, IN  46226
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  - new energy efficient windows.
  - new water heaters. many new ac's and furnaces.


  - just over 20k per unit. value is 30k per unit when full.
  - real estate taxes reduced over 50% to 18k
  - strong rental area

Description 48 units. 12 units in 4 identical buildings. brick/frame
construction in early 70's.

32 2-bedrooms, 12 1-bedrooms, 4 studios. gas heat and hot water.

All vacant while being rehabbed.  section 8 eligible.

owner pays gas. tenant pays electricity.


  - No. Units:
  *48*
  - Building Size:
  45,615 *SF*
  - Price/Unit:
 
  - Property Type:
  Multifamily
  - Property Sub-type:
  Garden/Low-Rise
  - Property Use Type:
  Investment
  - Cap Rate:
  10%
  - No. Stories:
  3
  - Year Built:
  1969
  - Lot Size:
  2.84 *AC*
  - Tax ID / APN #:
  4012477
  - Parking Ratio:
  2 / 1,000 SF




Right now property is vacant.  Seller is older and just has had problems in
maintaining the property. We do have a management company that has 20 years
experience in the Indianapolis area.


Here are the rents for the area - I thought this would be helpful.  You can
possibly raise the rent too. Calculations I figured on the lower rent
number.

Studio  $400 to $440.  4 x 400 = $1600
1 bedroom $450 to $500  12 x 450 = $5400
2 bedroom $500 to $550  32 x 500 = $16,000
Gross month - $23,000  Gross Year - $276,000


Taxes were reduced from $46K to $18K/year

send me an offer today with POF  thanks

again this includes

$480k 1st an 2nd mortgage plus closing cost an back taxes