Completely Renovated 9-Unit Apartment
For Sale
$527,500
612 W 4th Street, Marion, IN 46952
MULTI_FAMILY - Other - Marion, IN
Property Size3,610 SF
Lot Size0.26 Acres
Price / SF$146.12
Days on Market48
Property Features for 612 W 4th Street
General Information
Property type
Residential Multi Family
Property subtype
Apartment
Bedrooms
5
Rooms
Bedroom 3, Bedroom 5, Bedroom 2, Bedroom 1, Basement, Bedroom 4
Parking features
On Street
Window features
Vinyl Frames
Fireplace
1
Appliances
Oven/Range, Refrigerator
View
City
Elementary school
Kendall Elementary
High school
Marion High School
Elementary school district
Marion Community
Middle school district
Marion Community
High school district
Marion Community
Subdivision
Center
Standard status
Active
APN
27-07-06-301-076.000-002
Size
3,610 SF
Lot size
0.26 Acres
Utilities
Sewer type
Public Sewer
Heating system
Electric (Heating)
Water source
Public
Building Details
Year built
1900
Number of units
9
Building materials
Vinyl Siding
Roof type
Membrane, Shingle
Architectural style
Other
Listing Agency:
Keller Williams Realty Services
(859) 240-0727
Listed By:
Joan Hittinger
(859) 240-0727
Added: Jun 17
Changed: Jul 30
Last Checked: Aug 3 at 6:06AM
MLS# 207710
Copyright © 2026 Southeastern Indiana Board of Realtors. 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.
Completely renovated 9-unit apartment building located at 612 W 4th Street in Marion, IN, on a 0.26-acre lot. The building includes 5 one-bedroom, one-bath units and 4 efficiency units. Updates described include new HVAC mini-split systems, water heaters, gutters, and separate utility infrastructure to support management efficiency.
Each unit is furnished with new kitchen appliances. Appliances listed include oven/range and refrigerator. The property is served by public water and public sewer. Heating is electric, and construction materials are vinyl siding. Roofing includes membrane and shingle. Parking is noted as on-street.
The property was built in 1900 and includes a basement. An additional adjacent lot is included, creating an opportunity to develop off-street parking. With 3,610 square feet of property size noted, this multifamily asset is positioned for investors seeking an updated rental offering near Indiana Wesleyan University.
Each unit is furnished with new kitchen appliances. Appliances listed include oven/range and refrigerator. The property is served by public water and public sewer. Heating is electric, and construction materials are vinyl siding. Roofing includes membrane and shingle. Parking is noted as on-street.
The property was built in 1900 and includes a basement. An additional adjacent lot is included, creating an opportunity to develop off-street parking. With 3,610 square feet of property size noted, this multifamily asset is positioned for investors seeking an updated rental offering near Indiana Wesleyan University.
Key Highlights
- 0.26‑acre lot with an additional adjacent lot to help create off‑street parking
- 9 units total: 5 one‑bedroom, one‑bath and 4 efficiency units
- New HVAC mini‑split systems and updated water heaters
Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $38.1k | $10.56 |
| − Vacancy | −$5.4k | −$1.51 |
| EGI | $32.7k | $9.05 |
| − OpEx | −$14.7k | −$4.07 |
| NOI | $18.0k | $4.98 |
3,610 SF · lease $10.56/SF/yr · vacancy 14.26% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$256.8K
$224.7K – $299.6K
NOI $17,977 @ 7.0% cap · market cap 3.41%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$701.1K
$613.4K – $817.9K
NOI $49,075 @ 7.0% cap · market cap 9.30%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
9
Residential units
Location Intelligence
Trade Area within ½ mile
361
Businesses Nearby
Explore this area
Business Placement
Demographics for 46952, IN
18,996
Population
8,832
Households
2.2
Avg Household Size
46
Median Age
25%
College-Educated
89%
High-School Grad
105.5 sq mi
ZIP Area
180
Density / Sq Mi
$53,481
Median Household Income
$39,246
Median Earnings
$785
Median Rent
$129,000
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 - Completely renovated 9-unit apartment building with five one-bedroom units and four efficiency units, updated HVAC and utilities.
Where is this apartment building located?
The property is located at 612 W 4th Street Marion, IN.
What is the asking price?
The asking price for this property is $527,500.
What are key features of this property?
This property features: 0.26‑acre lot with an additional adjacent lot to help create off‑street parking; 9 units total: 5 one‑bedroom, one‑bath and 4 efficiency units; New HVAC mini‑split systems and updated water heaters
