3614 E Washington Street, Indianapolis, IN 46201

Property Description

Turnkey 6-unit multifamily opportunity on Washington Street! This well-maintained property offers six studio-style units with strong in-place rents and solid tenants. Current monthly gross rent is $4,207, with three units rented at $680/mo, one at $340 every two weeks ($737/mo), one at $300 every two weeks ($650/mo), and one at $180/week (~$780/mo), totaling $50,484/year. Owner pays all utilities including gas, electric, water, sewer, and trash. Average monthly expenses are $588, and annual expenses are estimated at $7,056. Financials reflect a projected NOI of $43,428 with a cap rate of 12.77% at the $340,000 price point. Investors can expect an estimated 30.37% cash-on-cash return with 20% down, based on an annual cash flow of $20,651 after debt service. The property includes excellent off-street parking and is ideally located in a prime growth area, walkable to stores and public transportation. A strong, cash-flowing asset with minimal overhead and outstanding upside potential. No showings without an accepted offer. Do not disturb tenants

Listing Status:

Active

Listing Office:

Hanza Realty, LLC : 317-800-4438

Listing Agent:

Tasheana Hanza : 317-800-4438

MLS ID:

22045368

Exterior

• Parking: Detached

Construction

• General: Two

Location

• Originating MLS: mibor
• School District: Indianapolis Public Schools
• County: Marion

Lot

• Zoning: Robson & Vorhees Add 60 X 200Ft Beg 90Ft W Se Corl3491005103003000101
• Current Use: Residential

Financial

• Source: mibor

This listing courtesy of Tasheana Hanza, Hanza Realty, LLC