2457 & 2461 S Shelby Street S
Indianapolis,
IN
46203
Property Details
| List Price: |
$865,000 |
| Beds: |
-- |
| Baths: |
-- |
| Status: |
Active |
SqFt: |
9391 |
| Agency: |
Keller Williams Indianapolis Metro North |
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Description/Comments
| Lot Size: |
-- |
| Property Type: |
Commercial |
| Year Built: |
1920 |
| Notes: |
INVESTOR ALERT!! MASSIVE PRICE REDUCTION!! Presenting a rare opportunity for savvy real estate investors: a renovated 10-unit apartment building in the highly sought-after Garfield Park neighborhood of Indianapolis with value add potential. This near-turnkey property is poised to deliver robust returns and strong cash flow once the final renovations are completed, making it an ideal addition to any investment portfolio. The property consists of 10 units: 5 units with 2 bedrooms and 1 bathroom, 4 units with 1 bedroom and 1 bathroom, and 1 efficiency unit. Currently, two units are rented at $1300 (2br) and $800 (efficiency) per month, respectively. With full occupancy, the estimated gross rents could reach $10k+ per month, significantly exceeding the 1% rule and underscoring the property's strong financial potential. Comprehensive renovations to the property ensure modern, attractive living spaces that appeal to quality tenants. Most of the heavy lifting has been done, but two units still need to be finished out and there are a few misc cosmetic repairs needed on the exterior. Easy work for instant equity! Tenants are responsible for all utility costs, optimizing your net income. An expansive concrete parking pad at the rear of the building provides dedicated parking for 4+ cars, creating the potential for additional income. Professional property management is already in place, offering a seamless transition and continued high-quality oversight. Positioned on a spacious corner lot directly across from the picturesque Garfield Park, this property offers a prime location that enhances tenant appeal and lifestyle. Additionally, it is just minutes from downtown Indy, providing easy access to dining, entertainment, and employment hubs. This property represents a strategic investment with substantial upside potential in one of the city's revitalizing neighborhoods. Don't miss out on this exceptional opportunity to secure a high-performing asset in a prime location! |
| MlsNumber: |
21981024 |
Estimate Your Monthly Payment
| Listing Provided By: |
Keller Williams Indianapolis Metro North, original listing |
| Name: |
Keller Williams Indianapolis Metro North |
| Phone: |
(317) 846-6300 |
| Office Name: |
Keller Williams Indpls Metro N |
| Office Phone: |
(317) 846-6300 |
| Agent Name: |
Peter Stewart |
| Disclaimer: |
Copyright © 2024 MIBOR Service Corporation. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified. |
