3123 East Michigan Street

Indianapolis, IN 46201

$289,000
Price
Beds
Sq. Ft.
/ Sq. Ft.
Sq. Ft.
per Sq. Ft.

Description

Investor alert! Rare 4-plex now available! Don't miss this great opportunity to acquire a turnkey 4 unit property on Indy's near eastside. Excellent location near multiple revitalized neighborhoods, and just minutes into Indy's amazing downtown. Fully tenant occupied so you'll be bringing in income from day one! Units are all 1/1's and the gross rents are currently $2285. Property is all electric. Electricity is separately metered and the tenants pay. Owner pays water/sewer but each tenant is charged...Investor alert! Rare 4-plex now available! Don't miss this great opportunity to acquire a turnkey 4 unit property on Indy's near eastside. Excellent location near multiple revitalized neighborhoods, and just minutes into Indy's amazing downtown. Fully tenant occupied so you'll be bringing in income from day one! Units are all 1/1's and the gross rents are currently $2285. Property is all electric. Electricity is separately metered and the tenants pay. Owner pays water/sewer but each tenant is charged $50/mo to cover the expense. Lots of recent updates over the past few years including all new electrical wiring and meters, baseboard heaters, water heaters, water mains, most windows, siding/eaves, appliances, and more! Roof around 13yrs old. Property is professionally managed by the Wilmoth Group. Get your offer in today and add this excellent rental property to your portfolio!
  1. Listed by Peter Stewart • Keller Williams Indpls Metro N • peter@peterstewartrealty.com

Property Details for 3123 East Michigan Street

Architectural Style
TraditonalAmerican
Subdivision Name
Rhodes E Ohio St
Township
Center
Waterfront
No

Location

Listing Courtesy of Keller Williams Indpls Metro N
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LISTING UPDATED: 03/25/2024 08:35 AM

Property Details for 3123 East Michigan Street

StatusActive
MLS #21966123
Days on Market66
Taxes$1,323 semi-annually
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income / Fourplex
Year Built1900
Lot Size0.13 AC / 5,662 SF
CountyMarion County

Location

Listing Courtesy of Keller Williams Indpls Metro N
Add your commute

Building Information for 3123 East Michigan Street

Stories-Residences4Year Built1900Building Size-Lot Size0.13 AC / 5,662 SF

Payment Calculator

$1,798 per month

30 year fixed, 7.25% Interest

Principal and Interest

$1,577

Property Taxes

$221

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 3123 East Michigan Street

Summary
Location and General Information
  • City: Indianapolis
  • County Or Parish: Marion
  • Directions: GPS Friendly
  • Postal Code: 46201
  • Postal Code Plus4: 3315
  • Road Access: Not Applic
  • State Or Province: IN
  • View: No
Taxes and HOA Information
  • Parcel Number: 491005203076000101
  • Semi Annual Property Tax Amt: 1323
  • Tax Year: 2022
  • TaxLot: 6&7
School Information
  • School District: Indianapolis Public Schools
Owner
  • Owner Pays: Sewer, Water
Property
Lot Information
  • Acreage: <1/4 Acre
  • Current Use: Apt<20
  • Lot Description: Busline, Corner Lot
  • Lot Size Square Feet: 5619.0
  • Lot Size Acres: 0.13
  • New Construction: False
  • Structure Type: Quadruplex
  • Year Built Numeric: 1900
  • Living Area Source: Assessor
Property and Assessments
  • Affected by Disclosures: No
  • Conversion: No
  • Legal Subdivision: Rhodes E Ohio St Add L6 & L7 Ex 45' S Side Lots
  • Photos Count: 13
  • Property Sub Type: Fourplex
  • Property Type: Residential Income
  • Transaction Type: Sale
  • Web Link: www.3123emichigan.com
Green Features
  • Green Certification: No
Utilities
  • Solid Waste: Yes
Interior and Exterior Features
Exterior Features
  • Construction Materials: Aluminum Siding, Vinyl Siding
  • Foundation Details: Block
  • Roof: Asphalt
Interior Features
  • Basement YN: Yes
  • Cooling: None
  • Heating: Baseboard
  • Levels: Two
  • Laundry Features: No Laundry Facil.
Multi Family
Multi-Family Information
  • Total Units: 4
  • Garage Parking: On Street
Income & Expenses
  • Expenses: 0
  • Gross Income: $.00
Unit 1
  • Unit Kitchen: 12x10
  • Unit Levels: 1
  • Unit Miscellaneous: Range/Oven,Refrigrater
  • Unit Rent Frequency: Monthly
  • Unit Utilities: Heat Base Bd
  • Unit Type Type: 1 Bedroom
Unit 2
  • Unit Kitchen: 13x13
  • Unit Levels: 1
  • Unit Miscellaneous: Range/Oven,Refrigrater
  • Unit Rent Frequency: Monthly
  • Unit Utilities: Heat Base Bd
  • Unit Type Type: 1 Bedroom
Unit 3
  • Unit Kitchen: 12x12
  • Unit Levels: 1
  • Unit Miscellaneous: Range/Oven,Refrigrater
  • Unit Rent Frequency: Monthly
  • Unit Utilities: Heat Base Bd
  • Unit Type Type: 1 Bedroom
Unit 4
  • Unit Kitchen: 13x13
  • Unit Levels: 1
  • Unit Miscellaneous: Range/Oven,Refrigrater
  • Unit Rent Frequency: Monthly
  • Unit Utilities: Heat Base Bd
  • Unit Type Type: 1 Bedroom
Rental
Rental Information
  • Tenant Pays: Electricity

Property History for 3123 East Michigan Street

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 3123 East Michigan Street

Taxable ValueLand$8,200Additions$142,900Total$151,100
Tax Record2022$3,712 ($309 / month)
Home Facts
Beds5Baths1Total Finished SqFt1,200 SqFtAbove Grade Finished SqFt1,200 SqFtStories2Lot Size5,619 SqFtStyleCondominiumYear Built1900ZoningZO01CountyMARIONAPN49-10-05-203-076.000-101

Schools near 3123 East Michigan Street

This home is within Indianapolis Public Schools.
Rating
School
Type
Grades
Distance
Public - PK to 6
Public - 7 to 8
Public - 9 to 12
Public - 9 to 12
Rating
School
Distance
Thomas D. Gregg School 15
PublicPK to 6

Arlington Community Middle School
Public7 to 8

Arsenal Technical High School
Public9 to 12

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

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3123 East Michigan Street is a multi-family home for sale in Indianapolis, IN 46201. This property was listed for sale on February 29, 2024 by Keller Williams Indpls Metro N, it's currently listed at $289,000. It has been on the market for a total of 66 days and was last sold on July 3, 2019. This listing's school district is Indianapolis Public Schools. Nearby schools include Thomas D. Gregg School 15, Arlington Community Middle School and George Washington Community High School (9-12). 3123 East Michigan Street is a 0-bed, 0-bath, multi-family home built in 1900.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Keller Williams Indpls Metro N

Based on information from one of the following Multiple Listing Services: MIBOR MLS,IRMLS,Southern Indiana REALTORS® Association,Southeastern Indiana Board of REALTORS. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by MIBOR MLS,IRMLS,Southern Indiana REALTORS® Association,Southeastern Indiana Board of REALTORS is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.