$1,230,000
$1,300,000
5.4%For more information regarding the value of a property, please contact us for a free consultation.
110 W Front Street Delphi, IN 46923
22 Beds
11 Baths
10,800 SqFt
Key Details
Sold Price $1,230,000
Property Type Condo
Sub Type Apartment Building
Listing Status Sold
Purchase Type For Sale
Square Footage 10,800 sqft
Subdivision None
MLS Listing ID 202234662
Sold Date 05/24/23
Style Three Story
Bedrooms 22
Full Baths 11
Abv Grd Liv Area 10,800
Total Fin. Sqft 10800
Year Built 1974
Annual Tax Amount $5,085
Tax Year 2022
Lot Size 0.480 Acres
Property Description
For sale is a beautiful turnkey apartment building located in the heart of Delphi! Welcome to 110 W Front St. This all brick building with metal roof houses 11 spacious units and is fully leased. Each unit features 2 bedrooms, 1 bathroom, and approximately 800 square feet of space. All units have been completely remodeled and feature new everything, including gorgeous vinyl flooring, high end cabinets with soft close doors and drawers, stainless appliances, new doors and trim, all new bathrooms, and more! Additional amenities include an on site coin-op laundry room, 2 garages, multiple carports, and a large parking lot that provides plenty of off street parking. Gross rents total $118,620 annually with an additional $1500 in laundry income (estimated). Landlord pays water/sewer, trash, common area electric, taxes, and insurance. Expenses are listed below Water - $3,363 Trash - $1,356 Electric (Common Area) - $3,702 Taxes - $4,886 Insurance - $5,085 This wonderful property provides strong cashflow and is perfect for the seasoned investor or someone looking to jump into the rental business. NOI is estimated to be just under $102,000 (7.8% CAP) minus any maintenance expenses. The building underwent an extensive remodel over the past 12 months, so no maintenance history is available.
Location
State IN
Area Carroll County
Direction US 421 TO FRONT STREET
Rooms
Family Room 885 x 885
Dining Room 0 x 885
Kitchen , 885 x 885
Interior
Flooring Carpet
Fireplaces Number 4
Appliance Building, Land
Laundry , 0
Exterior
Garage Spaces 1.0
Fence None
Amenities Available Near Walking Trail, Balcony, Cable Ready, Countertops-Laminate, Detector-Smoke, Foyer Entry, Water Heater Electric
Waterfront No
Roof Type Metal
Building
Lot Description Slope
Story 3
Structure Type Brick
New Construction No
Schools
Elementary Schools Delphi Community
Middle Schools Delphi Community
High Schools Delphi
School District Delphi Community School Corp.
Others
Financing Cash,Conventional
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IDX information provided by the Indiana Regional MLS
Bought with Rebecca Wright • Trueblood Real Estate