3614 E Washington ST Active Save Request In-Person Tour Request Virtual Tour
Indianapolis,IN 46201
Key Details
Property Type Multi-Family
Sub Type Fourplex
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
Property Sub-Type Fourplex
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
Exterior
Garage Spaces 1.0
Building
Story Two
New Construction false
Schools
School District Indianapolis Public Schools