306 Florida St, Evansville, IN 47711

This Evansville, Indiana multifamily property presents a compelling value-add investment opportunity. The 2-story, 2,900 square foot building, constructed in 1894, comprises three units: two 1-bedroom, 1-bathroom units on the main level, each equipped with a central furnace and window air conditioning units; and one 2-bedroom, 1.5-bathroom unit upstairs featuring central furnace and air conditioning. The property boasts 100% occupancy, generating a strong net operating income (NOI) of $18,894, resulting in a 14.21% capitalization rate. Priced at $133,000, this translates to $45.86 per square foot and $44,333.33 per unit. Situated on a 0.14-acre lot at 306 E Florida St, Evansville, IN 47711, the property includes rear parking. The building is separately metered, offering efficient utility management. This property is classified as a Class C multifamily investment and presents a significant return on investment potential. The building's age and potential for upgrades contribute to its value-add classification. This is an excellent opportunity for investors seeking a strong cash flow and potential for future appreciation.