$239,900

802 Weghorst Street, Indianapolis, IN 46203

  • Property Icon Triplex
  • Property Year Built Icon Built in 1890
  • Property Lot Size Icon5,227sqft lot
  • Property Parking Icon 2 car garage
  • Property Price Per Square Feet Icon $——/sqft
  • Property List Date Icon Listed 5 months ago

Property Description

Exceptional Triplex Investment Opportunity in Fountain Square! Unlock the potential of this rare multi-family gem located in the heart of highly sought-after Fountain Square-one of Indianapolis' fastest-growing and most vibrant neighborhoods. This income-producing triplex offers a solid foundation for both seasoned investors and those looking to start or expand their portfolio. Each of the three 1-bedroom, 1-bath units delivers stable rental income, generating a Gross Operating Income (GOI) of $20,400 annually. While the seller currently covers all utilities, averaging approximately $3,884/year, and standard property taxes and insurance, there's ample room to improve cash flow by passing on utility expenses or increasing rents with future updates. Sitting proudly on a large corner lot, the property includes a fenced rear yard-ideal for tenants with pets or for added outdoor appeal-and a 2-car detached garage, offering extra value for storage or future rental potential. Though the building needs some TLC, it presents a fantastic value-add opportunity in a rapidly appreciating area. With its prime location, strong rental upside, and room for improvement, this triplex is a smart investment waiting for your vision.

Listing Status:
Active
Listing Office:
Monteith-Legault Real Estate C : 317-750-6490
Listing Agent:
Josh Monteith : 317-750-6490
MLS ID:
22048345
  • Laundry: Common Laundry
  • Basement: Cellar
  • A/C: Central AirWindow Unit(s)
  • Heating: Forced AirNatural Gas
  • Style: Craftsman
  • Parking: Alley AccessDetachedOn Street
  • Roofing: AsphaltShingle
  • General: One and One Half
  • Road/Access: City Street
  • Originating MLS: mibor
  • School District: Indianapolis Public Schools
  • County: Marion
  • Zoning: J A Moores S Add L21 & 6Ft W Side L22491113132013000101
  • Fencing: Chain Link
  • Current Use: Residential
  • Source: mibor

This listing courtesy of Josh Monteith, Monteith-Legault Real Estate C

Monthly Payment

$Est. Payment
  • Principal & Interest $
  • Property Taxes $
  • Home Insurance $
  • VA Funding Fee $

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Location

Schools Nearby

J

James A. Garfield School 31

307 Lincoln St, Indianapolis, IN, 46225

Grades KG-8

0.38 miles away

J

James A. Garfield School 31

307 Lincoln St, Indianapolis, IN, 46225

Grades KG-8

0.38 miles away

E

Emmerich Manual High School

2405 Madison Ave, Indianapolis, IN, 46225

Grades 10-12

1.01 miles away

Disclaimer: School and School District information courtesy of the National Center for Education Statistics (NCES). School boundaries may change. Proximity to listed schools does not guarantee enrollment eligibility. Contact the school district for more information and exact boundaries.

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