Description
Hard to find investment opportunity less than 2 miles from Indiana University campus. Four units, two buildings. Well maintained. Roofs and gutters were replaced in 2018. All units are currently leased through summer of 2023. 1702 and 1704 were recently updated with new interior finishes including some granite, hardwood and stainless steel. 1706 and 1708 have had long term tenants so these units still have some potential to update and further increase rents. All units have the same layout with some minor variations in the location of the laundry. All appliances and washers/dryers stay with the units. All utilities are separately metered and paid by the tenants. Ample parking between the two buildings and a large common area in the back are shared by all tenants. HAND permits are in place. 1702-1704 expires February 2023 and 1706-1708 expires July 2025. Total rents are $5310 monthly. Property management company is recommending monthly rents at $1525 for all units with the next lease cycle (with no additional cosmetic upgrades).
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12BEDS
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0.69ACRES
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4BATHS
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41/2 BATHS
School Information
Description
Hard to find investment opportunity less than 2 miles from Indiana University campus. Four units, two buildings. Well maintained. Roofs and gutters were replaced in 2018. All units are currently leased through summer of 2023. 1702 and 1704 were recently updated with new interior finishes including some granite, hardwood and stainless steel. 1706 and 1708 have had long term tenants so these units still have some potential to update and further increase rents. All units have the same layout with some minor variations in the location of the laundry. All appliances and washers/dryers stay with the units. All utilities are separately metered and paid by the tenants. Ample parking between the two buildings and a large common area in the back are shared by all tenants. HAND permits are in place. 1702-1704 expires February 2023 and 1706-1708 expires July 2025. Total rents are $5310 monthly. Property management company is recommending monthly rents at $1525 for all units with the next lease cycle (with no additional cosmetic upgrades).
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