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:
Year Built:
Finished Sq Ft:
No Basement
Owner / Agent:
Owner / Agent
Property Features:
No Property Features Listed.
Contact Info
(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.

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