14-Unit Apartment
For Sale
$715,000
Pending
408 N Jefferson Street, Converse, IN 46919
MULTI_FAMILY - Converse, IN
Property Size7,880 SF
Lot Size0.45 Acres
Days on Market61
Property Features for 408 N Jefferson Street
General Information
Property type
Residential Multi Family
Property subtype
Apartment
Bedrooms
18
Bathrooms
14
Full bathrooms
14
Rooms
Bedroom 10, Bathroom 6, Bedroom 7, Bathroom 4, Bedroom 15, Bathroom 8, Bathroom 10, Bedroom 5, Bathroom 3, Bedroom 3, Bathroom 2, Bedroom 14, Bedroom 2, Bedroom 13, Bathroom 1, Bathroom 5, Bedroom 1, Bedroom 4, Bathroom 9, Bathroom 14, Bathroom 13, Bathroom 12, Bedroom 18, Bedroom 12, Bathroom 7, Bedroom 9, Bedroom 16, Bathroom 11, Bedroom 8, Bedroom 6, Bedroom 11, Bedroom 17
Parking
14
Lot features
City/ Town/ Suburb, Level, 0-2.9999
Elementary school
Converse/Sweetser
Middle school
Oak Hill
High school
Oak Hill
Elementary school district
Oak Hill United School Corp.
Middle school district
Oak Hill United School Corp.
High school district
Oak Hill United School Corp.
Directions
From Marion, follow SR 18 West out of the city. As you enter Converse, you will reach the main thoroughfare, which is Jefferson Street. Head north on Jefferson St and property is located a mile or so down the road on your right.
Subdivision
Miami County
Standard status
Pending
APN
52-16-29-401-037.000-011
Size
7,880 SF
Lot size
0.45 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
CONVERSE AD LOTS 354, 355 & 356 DA 687 21 032 01000
Tax Annual Amount
6010
Legal Description
CONVERSE AD LOTS 354, 355 & 356 DA 687 21 032 01000
Building Details
Year built
1970
Number of units
14
Flooring type
Mixed
Roof type
Shingle
Listing Agency:
CENTURY 21 Bradley Realty, Inc · Century 21 Real Estate
(260) 399-1177
Listed By:
Jonathan Preusz · License #RB19000148
(765) 667-1990
Added: Jun 2
Changed: Jul 28
Last Checked: Aug 1 at 10:06PM
MLS# 202621117
Copyright © 2026 Upstate Alliance of REALTORS® Multiple Listing Service, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 14-unit apartment complex is made up of three separate buildings: two triplexes and one 8-plex. The unit mix includes four 2-bedroom/1-bath units and ten 1-bedroom/1-bath units. The 8-plex features a 2-story design and includes on-site laundry facilities. Laundry equipment is commercial-grade and provided and maintained by a third-party vendor, supporting additional monthly income. The property also has a highly accessible configuration, with ten units offering ground-level entry.
The complex is located directly on Jefferson Street in Converse, Indiana. It is adjacent to a Dollar General, supporting convenient day-to-day access for residents. The property is served by the Oak Hill United School Corporation. Roof replacements were completed approximately five years ago, addressing a major maintenance item.
From an ownership standpoint, the property is structured for practical, manageable operations across three buildings, with a clear unit mix and most units designed for easier entry. Unit #1 is currently undergoing renovations, and the majority of materials have already been purchased and will convey with the sale, allowing the new owner to complete the work and begin capturing rental income from the renovated unit. Current rent roll and operating expense details are available upon request for qualified buyers, and showings are by appointment only.
The complex is located directly on Jefferson Street in Converse, Indiana. It is adjacent to a Dollar General, supporting convenient day-to-day access for residents. The property is served by the Oak Hill United School Corporation. Roof replacements were completed approximately five years ago, addressing a major maintenance item.
From an ownership standpoint, the property is structured for practical, manageable operations across three buildings, with a clear unit mix and most units designed for easier entry. Unit #1 is currently undergoing renovations, and the majority of materials have already been purchased and will convey with the sale, allowing the new owner to complete the work and begin capturing rental income from the renovated unit. Current rent roll and operating expense details are available upon request for qualified buyers, and showings are by appointment only.
Key Highlights
- 14‑unit apartment complex in Converse, located directly on Jefferson St (main road).
- Property is made up of three buildings: two triplexes and one 8‑plex.
- Unit mix: (4) 2BD/1BA units and (10) 1BD/1BA units.
Property Analytics
Property Profile
Current Use
Lease Details
14
Residential units
Multi-tenant
Tenancy
Turnkey business
Opportunity
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
96
Businesses Nearby
Explore this area
Business Placement
Demographics for 46919, IN
2,202
Population
827
Households
2.7
Avg Household Size
44
Median Age
20%
College-Educated
91%
High-School Grad
42.7 sq mi
ZIP Area
52
Density / Sq Mi
$71,033
Median Household Income
$40,602
Median Earnings
$758
Median Rent
$145,100
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Three-building 14-unit apartment complex with ground-level entries and on-site laundry facilities.
Where is this apartment building located?
The property is located at 408 N Jefferson Street Converse, IN.
What is the asking price?
The asking price for this property is $715,000.
What are key features of this property?
This property features: 14‑unit apartment complex in Converse, located directly on Jefferson St (main road).; Property is made up of three buildings: two triplexes and one 8‑plex.; Unit mix: (4) 2BD/1BA units and (10) 1BD/1BA units.
