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Taylor Thomas

realtor@taylorthomasrealty.com +1(317) 502-5098

Listed by Peter Stewart • Keller Williams Indpls Metro N

$ 339,000

Est. payment | -/mo

7,344 SqFt

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$ 339,000

Est. payment | -/mo

Save Virtual Tour

7,344 SqFt

Key Details

Property Type Commercial

Sub Type Multi-Family 5+

Listing Status Active

Purchase Type For Sale

Square Footage 7,344 sqft

Price per Sqft $46

MLS Listing ID 22098936

Year Built 1928

Tax Year 2025

Lot Size 3,920 Sqft

Acres 0.09

Property Sub-Type Multi-Family 5+

Property Description

Unlock significant cash flow and equity with this value-add 8-unit apartment building at 1120 E 30th St, Anderson, IN. Situated on a large, street-to-street 0.29-acre lot with mature trees on a quiet dead-end street, this all-brick, two-story building features a consistent footprint of eight 1-bedroom, 1-bathroom units, each offering 600 sq ft of functional living space with a living room, formal dining room, galley kitchen, and full bath. Five units are currently occupied, generating $3,750/mo in stable immediate income (rents ranging from $600-$900/mo). The remaining three vacant units require varying levels of renovation, presenting a prime opportunity to update and force appreciation. With market rents commanding up to $900/mo per unit, the potential gross monthly revenue is $7,200, positioning this asset to exceed the highly coveted 2% rule. Substantial operational upside exists: electricity and gas are separately metered, allowing a savvy investor to implement a utility bill-back strategy upon lease renewals to aggressively boost NOI. Additional revenue can be generated by adding coin-operated laundry to the basement. Securely designed with front and rear covered common entrances and interior hallways, the property boasts an excellent rental location just 5 minutes from downtown Anderson, Anderson University, and Harrah's Casino & Racetrack, and 10 minutes from Mounds State Park and major freeways. Capitalize on high rental demand. Sold strictly as-is, no seller financing.

Location

State IN

County Madison

Zoning R3

Interior

Fireplace N

Exterior

Utilities Available Electricity Connected, Natural Gas Connected, Water Connected

View Y/N false

Building

Story 2

Architectural Style Traditional

Structure Type Brick

New Construction false

Schools

School District Anderson Community School Corp

Others

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Taylor Thomas

Broker-Owner | Lic# RB19001934

realtor@taylorthomasrealty.com

+1(317) 502-5098

9465 Counselors Row, Ste. 200, Indianapolis, IN, 46240

1120 E 30th ST Anderson, IN 46016

Taylor Thomas

Key Details

Location

Interior

Exterior

Building

Schools

Others

1120 E 30th ST