226 E Washington Street
Rensselaer, IN 47978
- – beds
- – baths
- – sqft
- 10,934 sqft lot
- 1906 build
- – on site
***Investment Opportunity*** ***Immediate Passive Income***Great opportunity to expand your real estate portfolio with this completely remodeled 4 unit. Enjoy the benefits of passive income for years to come! Every inch of this property has been remodeled with quality work, craftsmanship, and high end materials and finishes, including spray foam insulation, energy star windows, high efficiency HVAC systems and MORE. Located in the heart of Rensselaer's business district, tenants can walk to work, the pharmacy, the local restaurants, and more. Unit makeup consists of 1- 2 bed/ 1 bath, 2- 2 bed/ 2 bath, and 1- 1 bed/ 1 bath with loft space. Gross rents total $55,000 annually, owner pays taxes, insurance, ground maintenance and snow removal. Tenants pay ALL utilities. With over an 8% cap rate when fully rented, this investment opportunity awaits its new beneficiary! Call an agent today!
Listing courtesy of NIRA / RE/MAX Executives
Last checked:
Checking…
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Last updated Dec 21, 2024
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MLS# 814093 —
The Building
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Year Built:1906
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New Construction:false
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Window Features:Blinds, ENERGY STAR Qualified Windows
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Patio And Porch Features:Covered, Rear Porch, Front Porch
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Security Features:Carbon Monoxide Detector(s), Smoke Detector(s), Varies By Unit
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Levels:Quad-Level
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Basement:Apartment, Finished
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Basement:true
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Above Grade Finished Area:3730
Interior
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Interior Features:Ceiling Fan(s), Granite Counters, High Ceilings
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Laundry Features:In Unit, Multiple Locations
Room Dimensions
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Living Area Source:Assessor
Location
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Directions:McKinley to Washington, property on the corner.
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Latitude:40.937735
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Longitude:-87.148904
The Property
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Parcel Number:370730020017209027
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Property Subtype:Quadruplex
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Property Condition:Updated/Remodeled
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Lot Features:Corner Lot
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Lot Size Acres:0.251
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Lot Size Square Feet:10934
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Lot Size Source:Assessor
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View:Downtown
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Exterior Features:Private Entrance
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Fencing:None
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Road Surface Type:Asphalt
Listing Agent
- Contact info:
- Agent phone:
- (219) 204-8312
- Office phone:
- (219) 987-2230
Taxes
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Tax Year:2023
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Tax Annual Amount:1165
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Tax Assessed Value:95400
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Tax Legal Description:ORIG PLAT E 110' LOTS 1 & 2 BLK 20
Heating & Cooling
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Heating:Forced Air, Natural Gas
Utilities
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Utilities:Electricity Connected, Sewer Connected, Water Connected, Natural Gas Connected
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Electric:200+ Amp Service, Separate Meters
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Sewer:Public Sewer
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Water Source:Public
Appliances
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Appliances:Dishwasher, Range, Washer, Refrigerator, Microwave, Dryer
The Community
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Subdivision Name:City/Rensselaer
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Community Features:None
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Pool Features:None
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Pets Allowed:Call
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Cap Rate:8
Parking
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Garage:false
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Parking Features:Additional Parking, Asphalt, Direct Access, Common, Attached Carport
Walk Score®
Provided by WalkScore® Inc.
Walk Score is the most well-known measure of walkability for any address. It is based on the distance to a variety of nearby services and pedestrian friendliness. Walk Scores range from 0 (Car-Dependent) to 100 (Walker’s Paradise).
Bike Score®
Provided by WalkScore® Inc.
Bike Score evaluates a location's bikeability. It is calculated by measuring bike infrastructure, hills, destinations and road connectivity, and the number of bike commuters. Bike Scores range from 0 (Somewhat Bikeable) to 100 (Biker’s Paradise).
Sale history
Date | Event | Source | Price | % Change |
---|---|---|---|---|
12/17/24
Dec 17, 2024
|
Listed / Active | NIRA | $599,000 |