$173,250
$199,900
13.3%For more information regarding the value of a property, please contact us for a free consultation.
225 W Pennsylvania ST Shelbyville, IN 46176
5,662 Sqft Lot
Key Details
Sold Price $173,250
Property Type Multi-Family
Sub Type Triplex
Listing Status Sold
Purchase Type For Sale
Subdivision S B Morris Penn
MLS Listing ID 21971459
Sold Date 08/12/24
Year Built 1979
Tax Year 2024
Lot Size 5,662 Sqft
Acres 0.13
Property Description
Makeup: A 2 BR, 1BR, and Studio at $750, $745, and $500. Invest in a Lucrative Triplex Generating over almost $2000 Monthly Income In today's dynamic real estate market, finding an investment opportunity that promises both stability and significant returns is paramount. Introducing a prime investment opportunity: a meticulously maintained triplex boasting three units and generating almost $2,000 (rents are on the lower side) in monthly rental income. This triplex is not just a property; it's a pathway to financial prosperity and security. Unlocking the Potential: With three distinct units, each contributing to the impressive monthly income, this triplex offers investors a rare opportunity to diversify their income streams and maximize returns. Whether you choose to rent out all three units or occupy one while leasing the others, the potential for profit is undeniable. Location, Location, Location: Situated in a highly sought-after area, this triplex benefits from its prime location, surrounded by amenities, downtown restaurants and shopping, trail heads, and convenient transportation options. The demand for rental properties in such desirable neighborhoods ensures a steady stream of potential tenants, minimizing vacancies and maximizing rental income potential. Crunching the Numbers: Let's talk figures. With around $2000 in monthly rental income and room to improve those numbers, this triplex yields an annual income that surpasses $15,000 before debt service. Such impressive numbers speak volumes about the financial viability of this investment opportunity. Moreover, with the potential for rental rate increases and property appreciation over time, the long-term returns on investment are even more promising. Rates could be nearer $900, 750, and 700.
Location
State IN
County Shelby
Zoning None
Rooms
Basement Unfinished
Interior
Heating Forced Air, Gas
Fireplace N
Exterior
Roof Type Asphalt
Building
Story Two
Foundation Block
New Construction false
Schools
Middle Schools Shelbyville Middle School
High Schools Shelbyville Sr High School
School District Shelbyville Central Schools
Read Less
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