For Sale
$475,000

804 Fairlawn CtEvansville, IN 47711

Six-unit duplex, high occupancy, strong NOI

Overview

Added:
Dec 11, 2024
Days on market:
115
This exceptional investment opportunity presents three all-brick duplexes (six units total), situated on the same block in Evansville, Indiana. Boasting 100% occupancy and a stable rental history, this property offers a compelling return. The buildings, constructed in 1966, encompass a total of 4,933 square feet on a 0.45-acre lot. Each unit benefits from tenants paying all utilities, minimizing operational expenses. The property's strong financial performance is reflected in its 7.76% cap rate and a substantial net operating income (NOI) of $36,879. The asking price is $475,000, translating to a price per square foot of $96.29. The property's address comprises three separate addresses: 804-806 N. Fairlawn Court, 808-810 N. Fairlawn Court, and 905-907 N. Fairlawn Circle E, all within Vanderburgh County, zip code 47711. This is a turnkey investment ideal for a seasoned investor seeking a stable, high-performing multifamily asset in a desirable location. The property features one-story buildings and is identified by APN 82-06-22-015-089.012-027.

Highlights

  • $475,000 asking price for a six-unit multifamily property.
  • 100% occupancy with a strong rental history.
  • Tenants pay all utilities.
  • Three all-brick duplexes located on the same block in Evansville, Indiana.
  • 7.76% cap rate with a $36,879 NOI.

Property Details for 804 Fairlawn Ct

Property type
Square Feet
4,933 SF
Year Built
1966
Buildings
3
Stories
1
Lot Size (sq. ft)
19,602 SF
Units
6

Location Insight

City
Evansville
County
Vanderburgh
State
Indiana
Latitude
37.985289762733
Longitude
-87.522391172846
804 Fairlawn Ct, Evansville, Indiana

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804 Fairlawn Ct
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