Prime Opportunity in Trendy Bates-Hendricks!
Structurally in good shape, you are looking at a prime opportunity in need of a complete rehab. This property is located in the heart of Bates-Hendricks which is within minutes to downtown, Lilly, and Fountain Square with easy access to the interstate. This will make a great investment property with 2 bedrooms and 1.5 bath on each side. This duplex is on the same street as many other current rehabs including those featured on the HGTV showGood Bones. It also sits across the street from James A. Garfield Elementary School!!
You can go a few different routes on this one...convert it to a single family home and rent for $1000+ per month. Or, flip it as a SFH. Bates-Hendricks flips are currently priced in the upper 200's and 300's.
- OR -
Keep it as a duplex and bring in up to $800+ per side with a nice rehab.
- OR -
Convert it into two townhomes and sell each side separately or use as AirBNB. One of our owners just did a duplex conversion to townhomes flip in Bates-Hendricks. One side is pending now at $189k!! The address for this property is 816-818 Parkway.
The possibilities are endless with this one and you can really make it what you want!
2/1 per side Multifamily Comps within 1/4 mile include:
1854-1856 Singleton - SOLD $67k as is (2/1 on each side with only 609 sf per side)
1428 S Alabama - SOLD $149,500 completely rehabbed (2/1 each side with 1100 sf each side, both sides rented at $795 plus all utilities are covered by tenants)
4 bedroom Single Family Comps within 1/4 mile include:
334 Iowa St - SOLD $65k (4/2 as is)
404 Iowa St - SOLD $64,500 (4/1.5 as is)
418 Iowa St - SOLD $105k (4/1 rent ready but not a flip)
1537 New Jersey St - SOLD $132k (4/1 rent ready but not a flip)
Duplex to Townhome Conversion Flip:
818 Parkway Ave - PENDING $189k (2/1.5 converted into a townhome from a duplex)Click here for details