418 N Oakland Ave, Indianapolis, IN 46201

Property Status: Available | For Sale: $89,900.00


10 Bedrooms / 4 Baths / Single Family


Property Photos


CASH COW on Indy's Near East Side bringing in $3080 per month for $89,900!!! WHAT?!?!


Property Status:
This Property is currently...
  • Status: Available
  • For Sale: $89,900.00
Property Details:
Property Style:
2-Story
Year Built:
1920
Finished Sq Ft:
2,026
Basement:
No Basement
Owner / Agent:
Owner / Agent
Property Features:
No Property Features Listed.
Contact Info
Nuparadox
(630) 303-3444

View on Individual's Website
This is a unique property that is bringing in some serious cash!!! It is located in an up-and-coming area on Indy's Near East Side IN THE PROMISE ZONE!! To learn more about all of the revitalization happening on the near east side, click here. This neighborhood is full of duplexes and large bungalows. There are multiple duplexes pending between $90k-$117k! Originally a duplex, it is now being rented by the ROOM! Each side of the double has been split into 5 separate units sharing common areas. Tenants pay month-to-month at $300/mo each. PLUS, each side has 1 bedroom that pays $340/mo. Therefore, 4 units per side at $300 each and 1 unit at $340 = $1540 PER SIDE EVERY MONTH!!! WHOA! That gives you a total income potential of $3,080 per month!! Even if you don't want to rent by the room, you still have the potential for $750 per side, or $1500 per month for the duplex alone. All mechanicals are in good working condition with a 1-year old furnace in the southside unit basement and a separate unit 10+ years on the other side. The water heaters are newer (2+ years). BUT WAIT...I am not finished yet with this CASH COW description! As an added bonus, the seller has converted a 576 sq ft garage into a 2 bedroom/1bath apartment that will rent out at $600/mo. Add this apartment rent on to your already CRAZY monthly collections for a total gross income potential of $3,680 PER MONTH!! If you don't rent by the room, your are still at $2100 PER MONTH potentially! AND....the empty side lot, also included in the parcel, is fenced in with a gate at the alley. The current tenants are using this for off-street parking.

Legal Disclaimer:
Central Indiana Real Estate Investors Association is not responsible for the properties or the information listed here. Each Property is independently owned.  Click on the link above to contact the Property Owner about this property.

Contact Us

Central Indiana Real Estate Investors Association
  • (317) 670-8491
  • 2155 Kessler Boulevard West Drive Ste M
  • Indianapolis, IN 46228

Proud Chapter of National REIA

Newsletter

Stay updated with Central Indiana Real Estate Investors Association


Privacy and Security Policies

Your email will never be shared or sold to other members, vendors or any other third party without your consent.
Privacy Policy   -   Security Policy

Disclaimer

www.CIREIA.org  (Central Indiana Real Estate Investors Association) does not give legal, tax, economic, or investment advice. CIREIA disclaims all liability for the action or inaction taken or not taken as a result of communications from or to its members, officers, directors, employees and contractors. Each person should consult their own counsel, accountant and other advisors as to legal, tax, economic, investment, and related matters concerning Real Estate and other investments.   Poster may be selling their equitable interest in said property(s).

Copyright 2019 © Central Indiana Real Estate Investors Association  All rights reserved.

This REIA Website is powered by: Real Estate Promo.