USAINIndianapolis2457 & 2461 S Shelby Street S

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$865,000

Sold

2 years ago

2457 & 2461 S Shelby Street S, Indianapolis, IN

MLS® 21981024

0 Bed

0 Bath

Key Facts
Description
Map

Key Facts

Type Other

Levels Commercial Sale

Size -

Garage No

HOA Fees

Taxes

Approx. Age 1920

MLS® Number 21981024

Property Address: 2457 & 2461 S Shelby Street S, Indianapolis, IN, 46203

Average square foot calculated using Size range provided by listing agent.

Description

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!

MLS® Number21981024

Locker

Ensuite LaundryNo

Balcony

Furnished

Laundry LevelNo Laundry Facil.

Exposure

Exterior

GarageNo

Approx. Age1920

Stories

Pets

Included in Maintenance Fee

Heat

Hydro

Water

Building Insurance

Condo Taxes

Cable TV

Central Air

Parking Maintenance

Utilities

Heat

A/C

Heating Fuel

Extras

Price History

Jul 29, 2024End Date

$662,000Sold Price

Sold

May 23, 2024List Date

$865,000List Price

Commute

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Starting Address

Destination Address

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