1116 1St StEvansville, IN 47713
- Apartment buildings
- 2,940 SF
Property Details for 1116 1St St
- Year built
- 1889
- Property size (Sq ft)
- 2,940 SF
- Property type
- Apartment buildings
Description
This exceptional 4-unit apartment building, located at 1116 SE 1st St in Evansville, Indiana, presents a compelling investment opportunity. Built in 1889 and extensively renovated in 2022, this three-story, Class C property boasts 2,940 square feet and offers a strong 10.05% cap rate. Currently generating a net operating income (NOI) of $24,018 annually, the property commands a monthly rental income of $2,725, with 100% occupancy achieved on February 1, 2022. The building comprises three 1-bedroom units and one efficiency apartment. Individual electric meters are in place, although the owner currently pays all utilities. A significant upgrade was completed in summer 2023 with the installation of a brand-new roof. Situated just blocks from Haynie's Corner, this property benefits from a desirable location. Furthermore, there's potential for expansion
Location Insight
- City
- Evansville
- County
- Vanderburgh
- State
- Indiana
- Latitude
- 37.9611
- Longitude
- -87.5673
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
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