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2008 E Washington St

Indianapolis IN 46201

5000 sq. ft.
Duplex
Currently for sale - view listing

Overview

Eight units, all one bed one bath, on one of the most active corridors in Indianapolis. Six are leased today and bringing in $6,740 a month. The other two are vacant and turn-ready, no renovation required. Lease them at the $1,175 the building next door already gets and this property runs $9,400 a month, or $112,800 a year. That is the entire value-add, and it costs nothing but a lease-up. Every unit was renovated under current ownership. New flooring, fresh paint, updated fixtures, modern kitchens and bathrooms. Electronic locks on every door, so a turnover is not a rekey project. Seventeen months of seller actuals put operating expenses near $27,300 a year including taxes, insurance, maintenance, trash, pest and internet. Filled up, that is a net operating income around $79,900 before debt. Shared rear parking gives every tenant a space. Roof, electrical, plumbing and HVAC were all inspected at acquisition and the reports are available. East Washington is drawing real neighborhood investment right now, with quick access to downtown, Fountain Square and Irvington. You are buying into the path of growth, not chasing it. The identical eight-unit next door at 2012 E Washington is also for sale, and the two can be bought together as a 16-unit package. Rent roll, profit and loss, and the full deal package are ready for qualified buyers. Sold as-is.

Features

5000 sq. ft. lot size
Duplex

Property history for 2008 E Washington St

2015
Sold
$55,000
21 Aug 2015 by Fred Krawczyk

Happy sellers in Indianapolis

87%
87% of sellers in Indianapolis reported that their sale price either exceeded or met their price expectations.

Indianapolis stands out for consistently delivering exceptional satisfaction and strong market results for homeowners.

This is based on voluntary sentiment collected from 6 reviews in Indianapolis over the last 12 months.

Local market activity for duplexes in Indianapolis

In the last 12 months, 170 duplexes similar to 2008 E Washington St, have been sold.

This represents a 14% decrease in duplexes sales when compared to the previous 12 months.

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