525 S 3rd Street

Lafayette, IN 47905
Square Ft.
2,730
$400,000
Turnkey 4-unit income property in a growing section of Downtown Lafayette. This fully occupied building includes two 2-bedroom units and two 1-bedroom units, generating $4,000/month in gross rents with a mix of tenant and landlord-paid utilities. Recent updates will reduce maintenance concerns and provide a solid foundation for long-term returns.Read MoreRead Less
Courtesy of Steven Childers, Keller Williams Lafayette Agt: 765-413-6046
Listing Snapshot
Days Online
5
Property Type
Quadruplex
Square Ft.
2,730
Lot Size
0.15 Acres
Year Built
1921
MLS Number
202544301
30 Days Snapshot Of 47905
$258k
-14%
(avg) sold price
30
-18%
homes sold
35
+9%
(avg) days on market
Snapshot
Area Map
Additional Details
Amenities
Other-See Remarks
Appliances & Equipment
# of Microwaves: 4, # of Ranges/Ovens: 4, # of Refrigerators: 4, # of W/D Hookups: 2
Basement
Yes, Block, Partial Basement
Building
Above Grade Finished SqFt: 2,280, Age: 104, Below Grade Unfin. SqFt: 450, New Construction: No, Stories: 2, Style: Two Story, Total Below Grade SqFt: 450, Total Finished SqFt: 2,280, Total SqFt: 2,730, Year Built: 1921
Cooling
Window
Expenses
Annual Electric Expense: $2,171, Annual Fuel Expense: $2,172, Annual Insurance Expense: $1,500, Annual Maint. Expense: $2,000, Annual Water/Sewer Exp.: $1,080
Exterior Features
Vinyl
Floors
Mixed
Heating
Forced Air
Home Owner's Association
Dues Frequency: Not Applicable
Income
Annual Net Income: $33,293, Gross Monthly Income: $4,000
Lot
Approx. Acres: 0.15, Approx. SqFt: 6,534, Dimensions: 50x130, Level
Owner Pays
Electric, Fuel
Parking
Spaces: 4, Unpaved
Property
Num. of 1 Bedrooms: 2, Num. of 2 Bedrooms: 2, Number of Buildings: 1, Number of Units: 4
Roof
Shingle
Sewer
City
Taxes
Annual Property Tax: $5,784
Tenant Pays
Electric, Fuel, Water
Unit One
Rent: $750, Rent Frequency: Monthly, # of Bathrooms: 1, # of Bedrooms: 1
Unit Two
Rent: $1,200, Rent Frequency: Monthly, # of Bathrooms: 1, # of Bedrooms: 2
Unit Three
Rent: $900, Rent Frequency: Monthly, # of Bathrooms: 1, # of Bedrooms: 1
Unit Four
Rent: $1,150, # of Bedrooms: 2
Utilities
# Electric Meters: 2, # Gas Meters: 2, # Water Meters: 2, City
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