Homes Abroad the UK's leading guide to Holiday Homes Abroad

  • 8
  • Indiana
Price £162,991

Property Description

This is an excellent opportunity to acquire a substantial brick built high yielding apartment block arranged as 8 one bedroom apartments each of 650 square foot.

The property is presently undergoing refurbishment. These works will be completed and the property will be fully tenanted prior to the closing (completion) of the sale at the end of January. As part of the sales process, we will provide a Home Inspection report with numerous photos so the quality of the refurbishment works can be appreciated as well as copies of the leases.

The property is located minutes from downtown Indianapolis in the desirable King Park neighborhood which enjoys high ongoing rental demand. The block enjoys a particularly convenient location on the bus route and benefits from private off-street parking.

Reserve this property now and start benefitting from the exceptional returns within a month or so!

Built in 1922, the apartment block totals 5,200 square foot on a lot of 6,534 square foot.

Below you will see the financials. Unlike most of our competitors, we take in to account all purchase costs and outgoings when determining the genuine net yield:

Sales Price: $255,000

Fixed Closing Costs: $10,000

TOTAL CAPITAL OUTLAY: $265,000

ANNUAL RENTAL INCOME: $62,400

OUTGOINGS:

Property Taxes: $2,700

Insurance: $2,500

Property Management: $3,840 ($40 per apartment per month)

Maintenance: $2,000

Miscellaneous: $1,500 (Communal hallway electricity, trash collection, etc.)

TOTAL OUTGOINGS: $12,540

NET ANNUAL INCOME: $49,860

This represents a fantastic genuine net yield of 18.81% per annum.

Please contact us for further information or to request a reservation form as this great opportunity will not be available for long.

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Property Location

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