$1,500,000
There are a total of 24 units, all of which are currently leased with scheduled rent increases upon renewal. Each of the three buildings comprises four 2-bedroom/1 bath and four 1-bedroom/1 bath units. Notably, each unit offers a vaulted ceiling in the kitchen, dining, and living area, as well as a laundry closet with hook-ups for a stacked washer & dryer. Tenants have access to a community room with a full kitchen, a half-bathroom, and coin-operated laundry. The property has undergone several improvements, including roof replacements and upgraded utility services. Two of the buildings' roofs are only 1 year old, the 3rd roof is 3-4 years old. The owners have provided a list of other improvements that have been made since they purchased the property. As tenants vacated, that unit was rehabbed as needed. There are 40+ parking spaces with designated handicapped parking. Trash removal is included in the rent. Tenants pay all utilities. The property is only shown by appt. Please provide proof of funds or a loan pre-qualification letter before the appt. request. *Please note, the numbers work best for an owner-managed operation.
In Spencer, from W SR 46, turn north onto 231, follow to CR 1200 S, turn left and travel 1 mile. At the STOP sign, take a slight left onto IN-42 W. Travel 5.4 miles to Cunot-Cataract Rd, turn left, and look for the property on the right.
MLS # | 202423104 |
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Date Listed | 2024-06-24 |
Status | Active |
Property Type | Investment |
Property SubType | Apartment Complex |
Square Feet | 20232 sqft |
New Construction | No |
Style | One Story |
Type | Apartment Complex |
Bedrooms | 36 |
Bathrooms | 25 (24 Full, 1 Half) |
Annual Taxes | $9,175.00 |
Year Taxes Payable | 2024 |
Year Built | 1999 |
Virtual Tour | tourfactory.com » |
Days on Market | 84 |
Living Room | 12 × 0 | Level |
Family Room | 550 × | Level |
4th Bedroom | 25 × 25 | Level |
5th Bedroom | 25 × 25 | Level |
Extra Room | 3 × 24 | Level |
Full Baths | 36 Main |
Construction | Apartment Complex |
---|---|
Lot Size | 260,924 sq ft |
Acreage | 5.99 Acres |
Lot Dimensions | 781x417x1129x273 |
Fence | None |
Area | Owen County |
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County | Owen |
Subdivision | None |
Township | Jackson |
City | Poland |
State | IN |
Zip | 47868 |
School District | Cloverdale Community Schools |
---|---|
Elementary | Cloverdale |
Middle School | Cloverdale |
High School | Cloverdale |
Assoc. Dues | $0.00 Not Applicable |
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MLS# 202423104
IDX information provided by the Indiana Regional MLS.
IDX information is provided exclusively for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data is deemed reliable but is not guaranteed accurate by the MLS.
Listing Provided Courtesy of Ron Plecher
RE/MAX Realty Professionals
Offc: 812-323-1231
Listing updated August 25, 2024 at 3:45 am
Last checked 14 minutes ago