402 N Parker Ave, Indianapolis, IN 46201

Description

Two-story brick duplex producing $2,450 per month in gross rents, offered at $184,900, with both unit rents documented by executed leases. Each of the two units features two bedrooms and one bathroom with both bedrooms located on the second floor. Tenants have been in place several years and pay their own utilities. System ages include roof at approximately fourteen to fifteen years, furnace and air conditioning at six to seven years, and water heater at six to seven years. Light cosmetic updates support rents of approximately $1,300 to $1,400 per unit, offering near-term upside on already-strong in-place income. The building anchors the St. Clair Place and Windsor Park corridor, blocks from neighborhood restaurants and minutes from downtown Indianapolis, Mass Ave, and Bottleworks. One of thirteen buildings in a 17-unit Indianapolis rental portfolio available individually or as a package. Executed leases available upon request. Property sold as-is.