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Listed by Josh Monteith • Monteith-Legault Real Estate C
$ 275,000
Est. payment /mo
New
802 Weghorst ST Indianapolis, IN 46203
5,227 Sqft Lot
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Triplex
Listing Status Active
Purchase Type For Sale
Subdivision No Subdivision
MLS Listing ID 22048345
Year Built 1890
Tax Year 2024
Lot Size 5,227 Sqft
Acres 0.12
Property Sub-Type Triplex
Property Description
Exceptional Triplex Investment Opportunity in Fountain Square! Unlock the potential of this rare multi-family gem located in the heart of highly sought-after Fountain Square-one of Indianapolis' fastest-growing and most vibrant neighborhoods. This income-producing triplex offers a solid foundation for both seasoned investors and those looking to start or expand their portfolio. Each of the three 1-bedroom, 1-bath units delivers stable rental income, generating a Gross Operating Income (GOI) of $20,400 annually. While the seller currently covers all utilities, averaging approximately $3,884/year, and standard property taxes and insurance, there's ample room to improve cash flow by passing on utility expenses or increasing rents with future updates. Sitting proudly on a large corner lot, the property includes a fenced rear yard-ideal for tenants with pets or for added outdoor appeal-and a 2-car detached garage, offering extra value for storage or future rental potential. Though the building needs some TLC, it presents a fantastic value-add opportunity in a rapidly appreciating area. With its prime location, strong rental upside, and room for improvement, this triplex is a smart investment waiting for your vision.
Location
State IN
County Marion
Rooms
Basement Cellar
Interior
Heating Forced Air, Natural Gas
Cooling Central Air, Window Unit(s)
Fireplace N
Exterior
Garage Spaces 2.0
Roof Type Asphalt,Shingle
Building
Story One and One Half
Architectural Style Craftsman
Structure Type Aluminum Siding
New Construction false
Schools
School District Indianapolis Public Schools
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