501 Eric Avenue

Vincennes IN 47591

11784 sq. ft.

17772 sq. ft.

Multi-Family

Currently for sale - view listing

Overview

12-unit townhome community in Vincennes – $1,185,000. Twelve two-story 2 bed / 2 bath townhomes, each with living room, kitchen, laundry room, private entry, and its own street address (501–523 Eric Ave). Brick and vinyl exteriors, metal roofs, off-street parking. Separately metered gas and electric; tenants pay all utilities including water and sewer; city trash pickup. Fully leased with long-term tenants. Gross rent $10,875/month ($130,500/year); six units already at $1,000 with clear upside on the other six. Approx. 7.3% cap on actual 2025-pay-2026 taxes ($14,080) and insurance. Minutes from Vincennes University and Good Samaritan Hospital. Financial summary available to qualified buyers. Do not disturb tenants.

Features

24 bedrooms

24 bathrooms

20 carspaces

20 open car spaces

11784 sq. ft. floor area

17772 sq. ft. lot size

Multi-Family

Property history for 501 Eric Avenue

2022

Sold

$650,000

15 Jun 2022 by Delmar Wagler, of Integrity Realty Group LLC

Happy sellers in Vincennes

We have insufficient information to provide an overview of customer satisfaction for Vincennes. Viewing the agent profiles, reviews and sales for Vincennes can provide insights for this location.