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  • 14
  • Indiana
Price £178,000
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Property Description

High Yielding Tenanted Block Of 6 Townhomes. Fantastic 18.38% Net Yield. This is a fantastic opportunity to acquire a project of 6 townhomes which are currently being refurbished to a high standard. Located on the west side of Indianapolis, a short distance to the south east of Eagle Creek Park and with very easy access to a number of commercial centers. This area enjoys high ongoing rental demand.

Built in 1973, the properties total 6,856 square foot on a lot of 1.11 acres. They comprise 2 three bedroom townhomes and 4 two bedroom townhomes.

These properties are currently being refurbished to a high standard and the works include: complete rewiring, complete replumbing, new kitchens and bathrooms, new flooring, roof work, complete interior and exterior redecoration and more. Everything will be as good as new.

Refurbishment works will be completed in the next 2 weeks and on closing/completion of the sale the property will be fully refurbished and 100% tenanted. Prior to closing we will provide the buyer with a Home Inspection Report and copies of all the leases.

The property thereafter will be managed by a reputable local management company with a proven track record to ensure the best possible income on an ongoing basis.

This opportunity is priced to sell now and is sure to sell quickly so please complete the Enquiry Form as soon as possible if you are genuinely interested.

THE FINANCIALS:

SALES PRICE: $178,000

CLOSING COSTS: $12,000 (estimated)

TOTAL OUTLAY: $190,000



ANNUAL RENT: $49,200



ANNUAL OUTGOINGS:

REAL ESTATE TAXES: $6,000

INSURANCE: $1,800

UTILITIES: $3,600

MANAGEMENT: $2,880



TOTAL OUTGOINGS: $14,280



NET ANNUAL INCOME: $34,920



This represents a fantastic cash on cash return of 18.38%% per annum.



Please contact us for further details or to reserve this property.

Make Enquiry....

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