1116 1St St Evansville, IN 47713

This exceptional 4-unit apartment building, located at 1116 SE 1st St in Evansville, Indiana, presents a compelling investment opportunity. Built in 1889 and extensively renovated in 2022, this three-story, Class C property boasts 2,940 square feet and offers a strong 10.05% cap rate. Currently generating a net operating income (NOI) of $24,018 annually, the property commands a monthly rental income of $2,725, with 100% occupancy achieved on February 1, 2022. The building comprises three 1-bedroom units and one efficiency apartment. Individual electric meters are in place, although the owner currently pays all utilities. A significant upgrade was completed in summer 2023 with the installation of a brand-new roof. Situated just blocks from Haynie's Corner, this property benefits from a desirable location. Furthermore, there's potential for expansion