228 S Madison Street, Knightstown, IN 46148

Property Description

This triplex located at 228 South Madison Street in Knightstown, Indiana. Built in 1950, the property features three units with efficient layouts and offers significant value-add potential. With one unit already renovated and ready for immediate occupancy, an investor can generate rental income while completing the remaining two units. The property consists of two 2-bedroom units and one 1-bedroom unit, appealing to a wide range of tenants. The two-bedroom units include dedicated laundry hookups, a highly desirable amenity that enhances convenience and increases tenant demand. This asset presents a clear opportunity to maximize rental income through strategic renovations and operational improvements, allowing investors to capitalize on existing market inefficiencies. With its efficient unit mix, modern amenities, and substantial upside, this triplex represents a compelling investment opportunity for buyers seeking a high-potential asset

Listing Status:

Active

Data Last Updated:

May 2, 2026 at 3:17PM

Listing Office:

Ellsbury Group : 765-401-1122

Listing Agent:

Justin Lowe : 765-401-1122

MLS ID:

22098161

Interior

• Heating: Natural GasBaseboard

Exterior

• General: Storage Shed

Construction

• General: One and One Half

Location

• Originating MLS: mibor
• School District: C A Beard Memorial School Corp
• County: Henry

Lot

• Zoning: Southern Div Add Pt Ol 36 (50' X 106')331633430415000030
• Current Use: Apt>20

Financial

• Source: mibor