304 Shelby StVincennes, IN 47591

Property Details for 304 Shelby St

Year built

1968

Lot size

0.24 AC

Property size (Sq ft)

9,600 SF

Property type

Apartment buildings

Description

This well-maintained, 12-unit apartment building presents a compelling investment opportunity in Vincennes, Indiana. Located just two blocks from Vincennes University, this property boasts a prime location with consistent demand. The building, constructed in 1968, comprises 9,600 square feet across two stories, situated on a 0.24-acre lot. All twelve units are configured as two-bedroom, one-bathroom apartments, currently enjoying approximately 90% occupancy. The property's financial performance is further enhanced by the tenants' responsibility for electricity costs, while the owner covers water, sewer, and trash expenses. The strong occupancy rate, coupled with the potential for rent increases due to high demand, promises substantial future profitability. The property is zoned for mixed residential use and features the APN 421221109104000022. Detailed financial information, including rent rolls and expense reports, is available upon request. A proof of funds will be required for showings. This is a turnkey investment ready to generate immediate income. The address is 304 Shelby St, Vincennes, IN 47591. Asking price is $660,000.

Location Insight

City

Vincennes

County

Knox

State

Indiana

Latitude

38.6826

Longitude

-87.5248

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