1120 E 30th Street, Anderson, IN 46016

• 7,344 sqft

Property Description

Unlock significant cash flow and equity with this value-add 8-unit apartment building at 1120 E 30th St, Anderson, IN. Situated on a large, street-to-street 0.29-acre lot with mature trees on a quiet dead-end street, this all-brick, two-story building features a consistent footprint of eight 1-bedroom, 1-bathroom units, each offering 600 sq ft of functional living space with a living room, formal dining room, galley kitchen, and full bath. Five units are currently occupied, generating $3,750/mo in stable immediate income (rents ranging from $600-$900/mo). The remaining three vacant units require varying levels of renovation, presenting a prime opportunity to update and force appreciation. With market rents commanding up to $900/mo per unit, the potential gross monthly revenue is $7,200, positioning this asset to exceed the highly coveted 2% rule. Substantial operational upside exists: electricity and gas are separately metered, allowing a savvy investor to implement a utility bill-back strategy upon lease renewals to aggressively boost NOI. Additional revenue can be generated by adding coin-operated laundry to the basement. Securely designed with front and rear covered common entrances and interior hallways, the property boasts an excellent rental location just 5 minutes from downtown Anderson, Anderson University, and Harrah's Casino & Racetrack, and 10 minutes from Mounds State Park and major freeways. Capitalize on high rental demand. Sold strictly as-is, no seller financing.

Listing Status:

Active

Data Last Updated:

June 24, 2026 at 5:20AM

Listing Office:

Keller Williams Indpls Metro N : 317-450-9202

Listing Agent:

Peter Stewart : 317-450-9202

MLS ID:

22098936

Exterior

• Style: Traditional
• Parking: Common

Construction

• General: Two

Location

• Originating MLS: mibor
• School District: Anderson Community School Corp
• County: Madison

Lot

• Zoning: R3Isenhours 1st 88.75' N Sd 0.0000Acres Str: 00000 Section: Plat: 00 In: Out:481219204165000003
• Current Use: Apt<20

Utilities

• Utilities: Electricity ConnectedNatural Gas ConnectedWater Connected

Financial

• Source: mibor