Location: 1237 - 1239 S Belmont Ave. Indianapolis, IN 46221
Just blocks away from Ely Lilly & newly planned development - $1.3 BIL Development at Waterside
Size: DUP 2b/1.5b each side, 2 story, full bsmt, 822 ea. side = 1644 ft2 total
Occupied on MTM leases
Current Rents (est): $500 + $485 / $985 total
Market Rents: $700-$800 ea / $1400-$1600 total (after updates to market comparable condition)
NET Cash Flow (existing): $668/mo
Closing Costs (est): $1000
CAP Rate: $8160 annual net rents / $53,000 all in = 15% CAP!
Your cash price: $53,000
Value (as-is): $81,600 on customary 10% CAP using Multi-Family income approach
ARV: $120,000 after $20k updates & rent increase to $700/ea side.
Rehab Scope: Nothing upon purchase, currently rented/occupied. Update only to increase rents and cash flow!
All pics: CLICK HERE FOR PICTURES
Add'l Info/questions - CALL
Matt @ 317-836-0600 to lock this deal up today!
Updated 10 months ago
Updated photo link: https://photos.app.goo.gl/Ux3JQG9nqe2MfgZw7
This post has been removed.
Hi Matt looks like the link for the pics isn't working (maybe it's my phone) could u send the link and any pertinent info to [email protected]? Lookin to make cash purchase asap!
Is this property still for sale?
Do not see any pictures through link?
Try this link for photos:
@Michael Ohman Hey Michael, we lost contact since this last deal I had. Let’s setup a call and catch up on what’s new in Indy!
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