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419 Oakley, Evansville, IN 47710

$350,000
12
6
6
0
na
4,004
na
0.2200
9,583
Corner,Level
Two Story
1965
202119032
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Directions:

Lloyd West to First Ave East on W Virginia apartment complex on right after Oakley on corner between Deaconess and Berry Plastics
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Description

This fantastic fully leased garden style 6 unit is the perfect addition to your portfolio. Located inside the qualified opportunity zone with potentially significant tax benefits (consult your tax professional). Made up of 6- 2 bed 1 bath, 667 sqft, units with gas furnaces and separated electric and gas meters. Current rents are $3,041 per month. ($506.83/month per residence on average). Owner pays for heat for water, water, sewer and trash. This presents a value add opportunity to install individual water heaters in each dwelling. Here the new buyer could increase the value by billing back for water/sewer/trash and also installing W/D hookups in units. With a long term tenant base there is also an opportunity to raise rents to market ($550-$595). Per seller updates include: roof 04', balcony and structure replaced in 12', New sump pump in crawl 12', two water heaters for entire building 12', all windows 15', 5 of 6 apartments have been repainted, new electric, plumbing repairs, light fixtures. Located right between the two largest employers in Evansville Berry plastics and Deaconess hospital and close to the $15m renovation of North Main corridor and the new $28m mixed use The Lofts on North Main.

Additional Details

Vanderburgh County
None
Lincoln
Lincoln
Central
 

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