5819 E Washington St Immeuble residentiel 14 lots 1 053 480 € (75 249 €/Lot) Taux de capitalisation 6,67 % Indianapolis, IN 46219

Seize this amazing and rare opportunity to purchase a cashflow-positive residential property in the historic Irvington neighborhood of Indianapolis, Indiana at 5819 E Washington Street. Spanning a total of 10,000 square feet, this 14-unit apartment complex has been well-maintained and provides a running start to investors hoping to break into this lucrative market.

The spacious units have individually metered electricity with heat from a central gas boiler that is proactively maintained. The complex’s grounds are professionally landscaped, featuring several mature trees and a nice yard. Each unit boasts a full kitchen with an electric range, and tenants enjoy access to on-site laundry facilities. The current owner has replaced a commercial washer and dryer, the commercial water heater, and has addressed plumbing issues throughout the property, limiting going-in capital expenses for a new owner. Additionally, the sewer was repaired by the previous owner.

Situated approximately 5 miles east of Downtown Indianapolis, 5819 E Washington Street enjoys a fantastic location within the vibrant Irvington neighborhood. The area surrounding the property is filled with popular local restaurants, lush public parks, beautiful golf courses, and high-quality residential neighborhoods. The area’s dense commuter population provides daily exposure to more than 23,000 vehicles passing by along Washington Street, keeping it at the top of mind for the region’s many renters. More than 248,000 residents live within five miles of the property, and with more than 51% of residents currently renting their homes, there is no shortage of qualified potential residents for rental accommodations like the subject property.