319 3Rd Ave Evansville, IN 47710

This well-maintained, two-story apartment building at 319 N Third Ave, Evansville, Indiana, presents a compelling investment opportunity. Built in 1967, the property boasts a total of 5,256 square feet and comprises five rental units: four one-bedroom/one-bathroom apartments and one three-bedroom, four-and-a-half-bathroom townhome. The townhome unit offers potential for conversion into additional rental units or can be rented as a single, larger unit. The asking price is $399,000, with a current net operating income (NOI) of $42,000. The property features ample off-street parking with a carport and a large private patio for residents. Recent improvements include new flooring, paint, and fixtures in some units. Tenants are responsible for their own electricity and cable. Individual unit rents are: Unit 1 - $950, Unit 2 - $700, Unit 3 - $650, Unit 4 - $550, and Unit 5 - $650. The lot behind the building is not included in the sale. This property is located in Vanderburgh County, Indiana, zip code 47710. This is a turnkey investment ready for a new owner.