6223 Fox Ridge Rd, Evansville, IN 47712

Description

4 RENTAL UNITS + 2.3 ACRES = MULTIPLE INCOME & DEVELOPMENT OPPORTUNITIES. RARE OPPORTUNITY TO OWN A FOURPLEX ON 2.3 ACRES JUST MINUTES FROM USI! Located on Evansville's desirable West Side, just 4 minutes west of the University of Southern Indiana off the Lloyd Expressway and just inside Posey County, this property offers an exceptional combination of existing rental units, value-add potential, and room for future expansion! This all-brick fourplex features approximately 2,650 square feet with four individual 1-bedroom, 1-bathroom units, each offering approximately 662 square feet of living space with 8-foot ceilings, a full kitchen with eat-in dining area and living room. The single-story building sits on a slab foundation and features a metal roof, all-electric utilities, septic system, German Township water, and parking for 9+ vehicles. VALUE-ADD OPPORTUNITY! All four units are in need of renovation and updating, offering investors the ability to improve the property and increase rental income. Two units are currently tenant-occupied (month to month long term tenants), while two are vacant and available for renovations. With USI just minutes away, the location offers potential appeal to students, faculty, corporate housing, and traditional long-term renters. For an owner-occupant investor, the property also presents an opportunity to live in one unit while collecting rental income from the others. THE REAL BONUS... OVER 2 ACRES OF ADDITIONAL OPEN LAND! With the existing fourplex strategically positioned near the eastern corner of the 2.3-acre parcel, the remaining acreage creates opportunities beyond the existing rental income. Explore the potential for an additional multifamily building, self-storage facilities, sub-divide for a single-family residence, or agricultural leasing to a neighboring farmer. The possibilities for maximizing this property's long-term value are worth exploring! All potential uses are subject to zoning, subdivision requirements, utility availability, and applicable approvals. Whether your strategy is to RENOVATE & HOLD, EXPAND YOUR RENTAL PORTFOLIO, CREATE ADDITIONAL INCOME STREAMS, OR EXPLORE FUTURE DEVELOPMENT, this property offers multiple avenues for potential investment growth in a convenient location near USI, Evansville's West Side amenities, and the Lloyd Expressway. Property being sold AS-IS. Septic was last pumped by TSF of St Wendle April 2021. Tenants' Rights Apply. Two units vacant. All showings by appointment only.