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Listed by Eric Lewis • Real Broker, LLC
$225,000
Est. payment /mo
6,969 Sqft Lot
New
2231 Lincoln ST Anderson, IN 46016
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Key Details
Property Type Multi-Family
Sub Type Triplex
Listing Status Active
Purchase Type For Sale
Subdivision No Subdivision
MLS Listing ID 22118992
Year Built 1947
Tax Year 2025
Lot Size 6,969 Sqft
Acres 0.16
Property Sub-Type Triplex
Property Description
Turnkey Triplex Investment Opportunity in Anderson! Excellent opportunity to own a recently updated triplex with three 1-bedroom, 1-bath units, all currently leased on one-year leases at $850/month per unit. The property currently generates $2,550/month, or $30,600 in annual gross rental income, with tenants responsible for their own utilities, except water. Recent improvements include a newer roof, fresh exterior paint, new exterior lighting, new gutters, and new interior paint throughout all three units. All units feature new flooring and have appliances, as well as new water heaters. Units 1 and 2 offer generous basement space, providing valuable additional storage, and the basement includes washer and dryer hookups for each unit. Unit 3 is a detached accessory dwelling unit. With recent improvements, existing rental income, tenant-paid utilities, $30,600 in current annual gross rental income, a Gross Rent Multiplier of 7.35 and a Cap Rate of 12.29%(minus vacancy & maintenance since newly renovated and rented), this triplex offers an excellent opportunity to add a cash-flowing property to your investment portfolio.
Location
State IN
County Madison
Rooms
Basement Storage Space
Interior
Heating Forced Air, Natural Gas
Cooling Window Unit(s)
Fireplace N
Building
Foundation Block
New Construction false
Schools
Middle Schools Highland Middle School
School District Anderson Community School Corp
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