2432 Main St Anderson, IN 46016

Property Details for 2432 Main St

Year built

1949

Lot size

0.07 lot acres

Property size

3,984 SF

Property type

Multifamily properties

Description

This well-located five-unit apartment building presents a compelling investment opportunity in Anderson, Indiana. Situated just south of the city's central business district, this property enjoys convenient access to public transportation, with a city bus line just a block away. A Kroger grocery store is within easy walking distance, enhancing the property's appeal to potential tenants. The building comprises four two-bedroom, one-bathroom apartments and one efficiency unit, consistently demonstrating high occupancy rates due to strong tenant demand. Several long-term tenants contribute to the property's stability. An attached garage includes a storage area with potential for additional rental income. While street parking is the only option, the location's proximity to amenities mitigates this. Tenant convenience is further enhanced by a coin-operated washer and dryer in the building, generating approximately $100 in monthly income. Two of the three gas-fired furnaces are newer models, although central air conditioning is absent. Significant upgrades have been implemented within the past five years, including a complete electrical panel replacement, new wiring throughout the building, and the installation of new Pex plumbing. Apartment 1 underwent a recent renovation (November 2024) featuring new kitchen cabinets, flooring, and paint. Note that apartment sizes and layouts vary, with dimensions being estimates except for the recently renovated Apartment 1. Landlord currently pays all utilities except for gas in Apartments 1, 4, and 5. Detailed financial records are available upon request for qualified buyers. On-site apartment tours are available to serious buyers who provide pre-approval documentation (if financing) or proof of funds (for cash purchases). The 3,984 square foot building sits on a 0.07-acre lot.