212 Cherry St Evansville, IN 47713

This Evansville, Indiana multifamily property, located at 212 Cherry St, 47713, presents a compelling investment opportunity. Situated between downtown and the Haynie's Corner Arts District, this attractive building offers three units currently generating strong rental income. The property includes a spacious backyard and a three-car brick garage, amenities tenants appreciate. Recent updates significantly enhance the property's value and appeal. These include the replacement of all four water heaters (converted from gas to electric) in November/December 2022, a new furnace for Unit C in December 2022, and a porch roof replacement in Summer 2023. Furthermore, Unit D underwent a complete remodel in 2023, and Unit B received a new stove in 2023. Currently, Units A and C are leased together, but they can be easily separated to create two additional rental units. The current rental income is substantial, with Unit A generating $1650 per month, Unit B $895 per month, and Unit D $895 per month. This property offers a blend of immediate income and significant upside potential through further unit division and potential rent increases. The asking price is $455,000. Showings are available upon acceptance of an offer. Please do not disturb tenants.