$350,000
106 / 108 N Franklin ST Greenfield, IN 46140
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Listed by Melissa Ewald • Level Up Real Estate Group
$350,000
Est. payment /mo
4,791 Sqft Lot
Active
106 / 108 N Franklin ST Greenfield, IN 46140
UPDATED:
08/19/2024 10:38 PM
Key Details
Property Type Multi-Family
Sub Type Triplex
Listing Status Active
Purchase Type For Sale
Subdivision Boyd Acres
MLS Listing ID 21995048
Year Built 1940
Tax Year 2023
Lot Size 4,791 Sqft
Acres 0.11
Property Description
This investment property, featuring two addresses and three separate, fully remodeled units, offers a fantastic opportunity for both short-term and long-term rental income. Located at 106 and 108, each unit comes fully furnished and shares a large common laundry space, making it ideal for traveling professionals or event-goers. The first address, 106, includes a spacious main floor unit with a large foyer, bedroom, living room, and kitchen. Additionally, it offers an efficiency unit that features a main floor foyer and a charming reading nook or extra storage space. The second address, 108, is a second-floor studio space boasting a generous living, bedroom, and kitchen area. The property also includes an oversized one car garage and paved parking. Currently, all three units are exclusively utilized as Furnished Finder or Airbnb rentals, achieving an impressive occupancy rate of over 90% (July 2023 - June 2024), with several bookings projected into next year. Most tenants are traveling professionals who rent on a monthly basis, though the property has also attracted visitors attending major events in Indianapolis, such as the Indy 500. With a successful rental model already in place, this property holds great potential for continued short-term rentals or could be easily transitioned to long-term tenants. Operating Expenses and Net Income listed below are average monthly. Don't miss out on this instant income producing property!
Location
State IN
County Hancock
Rooms
Basement Unfinished
Interior
Fireplace N
Exterior
Garage Spaces 1.0
Waterfront false
View Y/N false
Parking Type Attached, Concrete
Building
Story Two
New Construction false
Schools
Middle Schools Greenfield Central Junior High Sch
High Schools Greenfield-Central High School
School District Greenfield-Central Com Schools
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