804 Fairlawn CtEvansville, IN 47711

Property Details for 804 Fairlawn Ct

Year built

1966

Lot size

0.45 AC

Property size (Sq ft)

4,933 SF

Property type

Residential income properties

Property subtype

Multifamily properties

Description

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.

Location Insight

City

Evansville

County

Vanderburgh

State

Indiana

Latitude

37.9853

Longitude

-87.5224

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