525 S 3rd St, Lafayette, IN 47905
- $359,000
- 6
- BD
- 8
- BA
- 2,280
- SqFt
Listing courtesy of Steven Childers from Keller Williams Lafayette. Agt: 765-413-6046
- List Price
- $359,000
- Status
- ACTIVE
- MLS#
- 202645678
- Style
- Other
- Year Built
- 1921
- Days On Market
- Unknown
- Bedrooms
- 6
- Bathrooms
- 8
- Half-baths
- 2
- Living Area
- 2,280
- Township
- Fairfield
Property Description
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.
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Additional Information
- Acres
- 0.15
- Taxes
- $5,204
- Lot Features
- Level
- Water
- City
- Heating
- Forced Air
- Cooling
- Window/Wall, Window/Wall, Multi Units
- Flooring
- Carpet, Vinyl
- School District
- Lafayette
- Elementary School
- Thomas Miller
- Middle School
- Sunnyside/Tecumseh
- High School
- Jefferson
- Agent Name
- Steven Childers
Listings courtesy of Indiana Regional MLS as distributed by MLS GRID. 