Description
Multi Family Cash Flow Opportunity. Just minutes north of the greater Shelbyville area this opportunity offers 2 Buildings with 3 units available for rent on single land parcel. The single family home is rented at $625.00/month to month. The property is set up on well and septic but you could hook up to city utilities if desired. The main well line needs to be removed and replace approximately 15 feet of trenching and replace to the Duplex. The recommendation due to age is to clean out the septic and well and install new line to the well to replace the galvanized pipe. Paint the Exterior for both brick buildings. Add gravel parking lot to property. Taxes on property are $1800.00/year
The Duplex unit has separated utilities and is vacant and ready for rehab. The Duplex should replace roof, gutters, and soffits. Has some electrical repairs in one of the units needing repairing. Overall Duplex needs repairs and cosmetic updates.
Estimated project repairs are $55,000.00 total
Everything rented brings at least $2100.00/monthly revenue
Asking Price $ 99,900.00
| Property Type -1644 N Michigan | Single Family Residence |
| Square Feet | 848 (slab) |
| Lot Size | .37 acre (shared) |
| Bedrooms | 2 |
| Bathrooms | 1 |
| Year Built | 1950 |
| Market Rent | 900 |
| Property Type -1640/1642 N Michigan | Duplex Residence |
| Square Feet | 898 (slab) |
| Lot Size | .37 acre (shared) |
| Bedrooms | 2 |
| Bathrooms | 2 |
| Year Built | 1950 |
| Market Rent | 1200 total |
Recent Duplex Sold
413 W Franklin Street -Duplex Sold $180,000.00 4 Beds/ 2.5 Baths 2411 sq ft
2343/2345 N Michigan -Duplex Sold $159,900.00 4 Beds/ 2 Baths 1444 sq ft
