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    420 E 38th

    Indianapolis, IN 46205
    • $715,000
    • STATUS: Pending
    • ON SITE: 29 days
    • MLS #: 21750254
    Under Contract
    UPDATED: 54 min ago
    $715,000
    • 0
      BEDS
    • 0.48
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1927
    County:

    School Ratings & Info

    School District:

    Description

    This is a unique opportunity to own a 16 unit apartment complex near downtown, Metro Sports Complex, Indpls Museum of Art & State Fairgrounds. Located on the "Red Line' with LOADS of potential and character, lots of natural light, arched doorways and good sized units. (8) 1 bedrooms and (8) 2 bedrooms with sq footage to reconfigure if desired. 13 are occupied with long term tenants and appliances. 3 are gutted and ready for reno to increase earning potential. Rubber roof only 4 years old! Some new windows, all units have electric furnaces (tenant paid) from 2007. Laundry in 2 units. Complex consists of 4 buildings, connected at corners by brick facade with a good sized grassy courtyard and decks out back with separate entries in the rear.

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    © 2020 Metropolitan Indianapolis Board of REALTORS®. 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. Information is deemed reliable but is not guaranteed accurate by the BLC® listing service or Heard Real Estate Team | eXp Realty, LLC.
    www.indyhomehunter.com/homes/111604466
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    420 E 38th Indianapolis, IN 46205

    • Price: $715,000
    • Status: Pending
    • Updated: 54 min ago
    • MLS #: 21750254
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.48
    Acres
    1927
    Built
    Neighborhood:
    No Subdivision
    County:
    Marion
    Area:
    4903 - Marion - Washington
    School District:
    Indianapolis Public Schools
    Property Description
    This is a unique opportunity to own a 16 unit apartment complex near downtown, Metro Sports Complex, Indpls Museum of Art & State Fairgrounds. Located on the "Red Line' with LOADS of potential and character, lots of natural light, arched doorways and good sized units. (8) 1 bedrooms and (8) 2 bedrooms with sq footage to reconfigure if desired. 13 are occupied with long term tenants and appliances. 3 are gutted and ready for reno to increase earning potential. Rubber roof only 4 years old! Some new windows, all units have electric furnaces (tenant paid) from 2007. Laundry in 2 units. Complex consists of 4 buildings, connected at corners by brick facade with a good sized grassy courtyard and decks out back with separate entries in the rear.
    Exterior Features

    Architectural Style Traditonalamerican Exterior Brick Foundation Wall Concrete Block Lot Information Access AlleyAccess StreetBuslineSidewalks Lot Size 20735 Road Access Citystreet Roof Flat Unit Parking On StreetPaved Area

    Interior Features

    Baths Total 0.00 Building Information Smoke Alarm Building Levels TwoBasement HVAC Electric Laundry Connections Some Rooms Total 0 Square Foot Main Upper 0

    Property Features

    Building Utilities ElectricSeparate Electric MeterSewerWaterMunicipal Sewer ConnectedMunicipal Water Connected Conversion No Direct Soliciting No Disclosures Not Applicable Expenses 3950 Gross Operating Income 6175 Gross Potential Income 12000 Inspection Warranties Not Applicable Investment Yes New Construction No Number Of Carports 0 Operating Expense MaintenanceManagementProptaxesUtilities Other Disclosures Cosmetics NeededFixer UpperSales Disclosure On FileNeeds Updating Possession AtclosingTenantrights Present Use Apt<20 Property Sub Type 5+Units Commercial Proposed Use Apt<20 Semi Annual Property Tax Amount 3842 Tax Exemption None Tenant Pays CableElectric Township Washington Transaction Type Sale Unit Count 2 Zoning Mult

    Listing provided courtesy of Trout Realty Co, Llc. © 2020 Metropolitan Indianapolis Board of REALTORS®. Information Deemed Reliable But Not Guaranteed.


    © 2020 Metropolitan Indianapolis Board of REALTORS®. 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. Information is deemed reliable but is not guaranteed accurate by the BLC® listing service or Heard Real Estate Team | eXp Realty, LLC.
     
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    Heard Real Estate Team | eXp Realty, LLC
    450 E 96th Street Suite 500
    Indianapolis IN, 46240