212 Cherry StEvansville, IN 47713

Property Details for 212 Cherry St

Property type

Residential income homes

Property subtype

Apartment buildings

Description

This Evansville, Indiana multifamily property, located at 212 Cherry St, 47713, presents a compelling investment opportunity. Situated between downtown and the Haynie's Corner Arts District, this attractive building offers three units currently generating strong rental income. The property includes a spacious backyard and a three-car brick garage, amenities tenants appreciate. Recent updates significantly enhance the property's value and appeal. These include the replacement of all four water heaters (converted from gas to electric) in November/December 2022, a new furnace for Unit C in December 2022, and a porch roof replacement in Summer 2023. Furthermore, Unit D underwent a complete remodel in 2023, and Unit B received a new stove in 2023. Currently, Units A and C are leased together, but they can be easily separated to create two additional rental units. The current rental income is substantial, with Unit A generating $1650 per month, Unit B $895 per month, and Unit D $895 per month. This property offers a blend of immediate income and significant upside potential through further unit division and potential rent increases. The asking price is $455,000. Showings are available upon acceptance of an offer. Please do not disturb tenants.

Location Insight

City

Evansville

County

Vanderburgh

State

Indiana

Latitude

37.9676

Longitude

-87.5702

FAQs

How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?

Please email our support team at [email protected] and they will add the team member.

How do I access a private listing?

Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.

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.

How do I unsubscribe from emails?

At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].