652 E Main St - Apartments FOR SALE


Plainfield, IN 46168
$699,000 USD
812-606-0136
652 E Main St, Plainfield, IN for Sale
$699,000 USD
Apartments - FOR SALE
1/8
null | 7.9% Cap Rate

652 E Main St
Plainfield, IN 46168


HIGHLIGHTS

  • Installation of a new water heater for the building & a brand-new roof installed in 2022
  • Replacement of the outdated boiler system with modern heat pumps in each unit
  • Replacement of all three sewage cleanouts
  • Upgrades to the electrical system, including both pain panels
  • Addition of new washer and dryer in the community laundry room
  • Full bathroom remodel in Unit #3

OVERVIEW

13-unit multifamily investment property for sale with recent upgrades and value-add opportunities, don't miss out! Conveniently located on Main street between downtown Plainfield and the Plainfield retail corridor, this investment property features 13 units, 10 of which are currently occupied and in relatively good condition. The remaining 3 units have been fully gutted and are ready for complete renovation, offering potential to add value and increase cash flow. Several recent improvements within the last two years (see property highlights). Landlord pays for all utilities, make another value-add opportunity to individually meter the units and charge the utilities back to the tenants. Current gross rent is $97,500 and expenses (taxes, insurance, maintenance and utilities), are $42,300 and attractive potential CAP rate of 10%-11%.

FOR SALE DETAILS

PRICE

$699,000 USD

PRICE/SF

$178 USD /SF

# OF UNITS

13

PRICE/UNIT

$53,769

CAP RATE

7.9%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

352 E Main Street

PROPERTY TYPE

Multi-Family

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1960

PARKING SPACES

-

LAND DETAILS

LAND ACRES

-

LAND SF

-

ZONING

R4

APN/PARCEL ID

32-10-26-386-009.000-012

ASK ABOUT THIS PROPERTY

Craig DohmanCentury 21 CommercialMore Info
812-606-0136

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Craig DohmanCentury 21 CommercialMore Info
812-606-0136

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.