402 Main St Madison, IN 47250

Property Details for 402 Main St

Lot size

0.03 lot acres

Property type

Multifamily properties

Description

This exceptional multi-family property, located at 402 E Main Street in the heart of historic downtown Madison, Indiana, presents a compelling investment opportunity. The building boasts a desirable mix of rental units, ensuring strong occupancy rates and consistent cash flow. The main floor comprises two apartments: a spacious two-bedroom unit and a comfortable one-bedroom unit. Adding to the property's income potential are seven efficient studio units located on the third floor, which share two well-maintained bathrooms. The fourth floor is currently unfinished, offering significant potential for future expansion and value enhancement. The property sits on a conveniently sized 0.03-acre lot, ideal for its current configuration and minimizing maintenance needs. The asking price of $449,900 reflects the property's strong rental income potential and prime location within a thriving historic district. This is a rare chance to acquire a well-positioned multi-family investment in a sought-after Indiana town. The existing units are well-maintained and ready for immediate occupancy, minimizing vacancy periods and maximizing return on investment. The unfinished fourth floor presents a unique opportunity to increase the property's value and rental income through strategic development. This property is an excellent addition to any investment portfolio seeking stable returns and long-term growth. Serious inquiries are encouraged.

Location Insight

City

Madison

County

Jefferson_IN

State

Indiana

Longitude

-85.3756

Latitude

38.7361