525 S 3rd St

Lafayette IN 47905

2730 sq. ft.

6534 sq. ft.

Duplex

Currently for sale - view listing

Overview

Great investment opportunity in a growing section of Downtown Lafayette! This 4-unit multifamily property features two 2-bedroom units and two 1-bedroom units, with three units currently vacant and available for new tenants. With projected gross rents of approximately $3,595 per month ($43,140 annually), investors have an opportunity to establish new leases at market rates and maximize the property's income potential. Recent updates to the roof, gutters, and interiors of 3/4 units, there is a solid foundation for long-term ownership, while the mix of tenant- and landlord-paid utilities offers additional opportunities to improve operating performance. Conveniently located near downtown shopping, dining, and entertainment, this property offers an attractive opportunity for investors looking to expand their multifamily portfolio.

Features

6 bedrooms

4 bathrooms

4 carspaces

4 open car spaces

2730 sq. ft. floor area

6534 sq. ft. lot size

Duplex

Property history for 525 S 3rd St

2024

Sold

$284,000

31 Oct 2024 by Heather Roth

2019

Sold

$105,000

15 Aug 2019 by Tabitha Casto, of F.C. Tucker/Shook

Happy sellers in Lafayette

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