This turnkey fourplex offers a secure and stable investment opportunity for both seasoned and first-time investors. With 100% occupancy, you'll start generating rental income immediately. The property features a recent roof replacement and painted exterior minimizing maintenance needs. The units offer three spacious 1 bedroom, 1 bathroom units, and one larger 2 bedroom, 1 bathroom unit. While the property has just one meter for each utility, tenants are charged a monthly utility fee to cover these costs, ensuring a steady stream of income for the owner. Located in the heart of the vibrant downtown Main Street Corridor, the property boasts unbeatable access to shops, restaurants, and nightlife, making it highly attractive to tenants. Inquire today to learn more about this exceptional income property!
Closed
$191,000
616 Mechanic St, Fort Wayne, IN 46808
5beds
2,062sqft
Quadruplex
Built in 1920
-- sqft lot
$195,800 Zestimate®
$--/sqft
$1,223 Estimated rent
Owner options
What's special
Zillow last checked: 8 hours ago
Listing updated: August 14, 2024 at 09:54am
Listed by:
Jordan Wildman Home:260-498-0384,
eXp Realty, LLC
Bought with:
Jordan Wildman, RB19001056
eXp Realty, LLC
Source: IRMLS,MLS#: 202425826
Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 5
- Bathrooms: 4
- Full bathrooms: 4
Heating
- Natural Gas, Forced Air
Cooling
- None
Features
- Laminate Counters
- Flooring: Carpet, Laminate
- Basement: Partial
Interior area
- Total structure area: 2,587
- Total interior livable area: 2,062 sqft
- Finished area above ground: 2,062
- Finished area below ground: 0
Property
Parking
- Parking features: None
Features
- Levels: Two
- Stories: 2
- Fencing: None
Lot
- Size: 2,613 sqft
- Dimensions: 50X50
- Features: Level, City/Town/Suburb
Details
- Additional structures: None
- Parcel number: 021203409012.000074
Construction
Type & style
- Home type: MultiFamily
- Property subtype: Quadruplex
Materials
- Asbestos
- Foundation: Basement
- Roof: Asphalt
Condition
- New construction: No
- Year built: 1920
Utilities & green energy
- Electric: AEP/I&M
- Gas: NIPSCO
- Sewer: City
- Water: City, Fort Wayne City Utilities
Community & neighborhood
Location
- Region: Fort Wayne
- Subdivision: Herbert E Eckarts
HOA & financial
Other financial information
- Total actual rent: 28200
Other
Other facts
- Listing terms: Cash,Conventional,FHA,VA Loan
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$195,800
2% more+$3,916
With Zillow Showcase(estimated)$199,716