For Sale
$475,000

804 Fairlawn Ct Evansville, IN 47711

Six-unit duplex, high occupancy, strong NOI

Overview

Added:
Dec 11, 2024
Days on market:
137
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
Commercial real estate
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

FAQs

What type of property is this?
Commercial real estate - Six-unit duplex, high occupancy, strong NOI
Where is the commercial real estate located?
The property is located at 804 Fairlawn Ct Evansville, IN.
What is the asking price?
The asking price for this property is $475,000.
What are key features of this property?
This property features: $475,000 asking price for a six-unit multifamily property.; 100% occupancy with a strong rental history.; Tenants pay all utilities.
How can I contact the broker?
We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.
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804 Fairlawn Ct
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