Shelbyville, IN 46176,225 W Pennsylvania ST
Shelbyville, IN 46176,225 W Pennsylvania ST
Shelbyville, IN 46176,225 W Pennsylvania ST
Shelbyville, IN 46176,225 W Pennsylvania ST
Shelbyville, IN 46176,225 W Pennsylvania ST
Shelbyville, IN 46176,225 W Pennsylvania ST
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Listed by Justin Polston • Mackenzie Allen, Polston & Ass

$173,250

$199,900

13.3%
Est.Price: ?

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Est. payment /mo

5,662 Sqft Lot


SOLD DATE : 08/12/2024

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

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MIBOR MLS
agent-avatar

+1(219) 613-3838

jennifer@soldwithjennifer.com

7512 Fawn Valley Dr, Schererville, IN, 46375, USA

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