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Listed by Alyssa Burton • Inspired Realty
$ 525,000
Est. payment /mo
Active
1517 S Walnut ST Muncie, IN 47302
5,300 SqFt
UPDATED:
Key Details
Property Type Commercial
Sub Type Multi-Family 5+
Listing Status Active
Purchase Type For Sale
Square Footage 5,300 sqft
Price per Sqft $99
MLS Listing ID 22089763
Tax Year 2025
Lot Size 6,534 Sqft
Acres 0.15
Property Sub-Type Multi-Family 5+
Property Description
Introducing the Walnut Street Apartment Portfolio, consisting of 10 renovated apartment units, 2 undergoing rehab and a commercial space with a garage ready for additional unit conversion or to be rented as commercial. These units span across several adjacent structures. The property has 5,300 rentable square feet and sits on a .41 acres site. The property has undergone a complete transformation with extensive capital improvements. These include major structural, mechanical, electrical, and cosmetic upgrades. New flat roofs, all siding and windows replaced, electrical systems fully rewired with new meters. Plumbing upgrades, new cabinets and countertops, new flooring, fresh interior paint, new appliances in renovated units, new showers/tubs/toilets, security cameras, and significant subfloor and drywall replacement. The Walnut Street portfolio represents an opportunity to acquire a workforce-grade housing asset in a supply-constrained rental market where renovated products perform well. Includes 1513-1525 S Walnut St parcels. Extensive Capital Improvements: Ownership has replaced mechanical systems, interior finishes siding, subflooring, drywall, and much more Full Electric System Replacement: All units were completely re-wired and new individual meters installed. Upside Through Commercial Space: The property currently has a vacant commercial space offering potential for revenue increases through lease-up. Additional Unit Upside: Two additional units are partially complete and can be finished for immediate rental increases.
Location
State IN
County Delaware
Zoning commercial
Interior
Heating Electric
Cooling Window Unit(s)
Fireplace N
Exterior
Garage Spaces 4.0
Utilities Available Electricity Connected, Natural Gas Available, Sep Electric Meter, Sewer Connected, Water Connected
Roof Type Flat
Building
Story Two
New Construction false
Schools
School District Muncie Community Schools
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