Home > > For sale by owner > 460-462 N State Ave, Indianapolis, IN 46201

460-462 N State Ave, Indianapolis, IN 46201

$460,000




Price : 460000.00

🛌🏻 10 Bedrooms
🛀🏻 4 Bathrooms
🚗 Parking
Size   2990 sq/ft
Built Area   2990 sq/ft
Flooring   
Cooling   
Heating   
Property Type   House for sale
Features   Microwave, Range / Oven, Refrigerator, Type:MultiFamily, Year Built:1915, Heating:Other, Cooling:, Parking:0 spaces, Days on Zillow:33 Days, Price/sqft:$154, Offer Review Date:
Exterior   
Kitchen   

Overview

ZONED D8 (sober Living) Does not need special licenses - just the zoning Currently being used as Sleeping Rooms Current Monthly Cash Flow is $3010/mo from the left side only $140/week per room When the Right side is used as sleeping rooms Monthly Cash Flow is $6020/mo SOBER LIVING (working conservatively) $800/bed/mo with 2 beds per room (total of 20 beds) = gross $16,000/mo or $196,000 /yr Could Be up to 34 beds 4 rooms are large enough for 4 beds & the remaining 6 are large enough for 2-3 beds per room Remodelled Exterior has been remodelled Interior has been remodelled ( may need some finishes) Electric updated Brand new roof New water heater All new windows Onsite property manager is currently in place Can line up a sober living property manager (if needed) Great opportunity for an investor to utilize the cash flow from the left side until the right side/sober living is cash flowing. To see all properties visit website & look at spreadsheet