1887 S 700 E, Elwood, IN 46036

Building Details

Year built

1973

Floors in Building

1

Number of units

3

Building materials

Brick

Roof type

Asphalt

Architectural style

Ranch

Additional Structures

Storage

Listing agent Cheryl Trietsch License #RB14042006 Show Phone

Listing office CENTURY 21 Scheetz i***@c21scheetz.com 270, Indianapolis, IN Show Phone

Listing date Mar 23, 2026

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MLS# 22089772 Listing URL

Copyright © 2026 MIBOR Service Corporation. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

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Overview

This brick triplex includes three residential units on a single property. The owner reports all three units are currently rented, with two operating on month-to-month leases and the third unit scheduled to expire in October 2026. Apartment 3 was gutted and redone in 2025, with new construction from the studs out, including electrical, plumbing, windows, doors, and new appliances. Each unit has laundry connections, and tenants are responsible for their own electric and any cable or internet services they choose.

The property is located in Elwood, Indiana, on approximately 1.14 acres. The listing notes plenty of off-street parking for residents. The home is served by well and septic. The seller pays property-related expenses including taxes, insurance, trash, landscaping/mowing, snow removal, and electricity for the well pump.

For a buyer seeking a straightforward income property, this triplex offers three separate units with in-unit laundry hookups and a recently renovated third unit. With two month-to-month tenancies and one lease extending to October 2026, the setup provides multiple timeframes for future planning while maintaining current occupancy.

Suggested Use

Building Supply Dental Office Auto Repair Shop Food Market Storage Facility Grocery & Convenience Store Pet Grooming Service

Zoning and permitted uses should be independently verified with local authorities.

Location Insight

• Map
• Local Demand

City

Elwood

County

Madison

State

Indiana

Longitude

-85.879393

Latitude

40.278687

FAQs

What type of property is this?

Triplex - Brick triplex with three rental units, laundry connections, and off-street parking on well and septic.

Where is this triplex located?

The property is located at 1887 S 700 E Elwood, IN.

What is the asking price?

The asking price for this property is $239,900.

What are key features of this property?

This property features: Brick ranch triplex built in 1973; All 3 units currently rented: 2 on month‑to‑month leases and the third lease expires October 2026; Apartment 3 fully renovated in 2025 (new from the studs out, including electrical, plumbing, windows, doors, and appliances)