615 - 615 1/2 Madison Avenue, Anderson, IN 46016
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615 - 615 1/2 Madison Avenue, Anderson, IN 46016
615 - 615 1/2 Madison Avenue, Anderson, IN 46016
615 - 615 1/2 Madison Avenue, Anderson, IN 46016
615 - 615 1/2 Madison Avenue, Anderson, IN 46016
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Sarah Mast

Sarah Mast

+1(765) 618-0155
$ 112,900
Est. payment /mo
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Active

615 - 615 1/2 Madison Avenue Anderson, IN 46016

3 Beds

2 Baths

1,952 SqFt

UPDATED:

Key Details

Property Type Multi-Family

Sub Type Duplex

Listing Status Active

Purchase Type For Sale

Square Footage 1,952 sqft

MLS Listing ID 202613954

Style Two Story

Bedrooms 3

Full Baths 2

Abv Grd Liv Area 1,952

Total Fin. Sqft 1952

Year Built 1950

Annual Tax Amount $750

Tax Year 2025

Lot Size 6,098 Sqft

Property Sub-Type Duplex

Property Description

This package features three consistently high-demand rental duplex properties (6 units) situated in the Anderson, IN market. The portfolio offers a secure, well-managed investment with immediate upside potential. Stable Income Stream: The properties demonstrate strong, reliable cash flow, supported by excellent historical rent collection and exceptional occupancy rates (minimal historical vacancy). Turnkey Efficiency: Current owners have meticulously maintained the units, significantly minimizing the need for immediate Capital Expenditure (CapEx). Value-Add Opportunity: Current rents are below prevailing market rates for comparable local properties, providing a clear path for substantial income growth through gradual rent increases to achieve market value. Tenant Stability: Due to diligent maintenance, the properties have high long-term tenant satisfaction, contributing to low turnover. Seller will sell individually or as a group-addresses: 403-405 W 5th St, 615-615 1/2 Madison and 1815 - 1815 1/2 Fletcher.

Location

State IN

County Madison County

Area Madison County

Direction GPS Friendly

Rooms

Family Room 756

Dining Room 0 x 795

Interior

Flooring Other

Appliance Building, Lease

Laundry , 2

Exterior

Garage Spaces 1.0

Amenities Available Porch Covered

Total Parking Spaces 2

Building

Lot Description Level

Story 2

Structure Type Vinyl,Other

New Construction No

Schools

Elementary Schools Anderson

Middle Schools Highland

High Schools Anderson

School District Anderson Community

Indiana Regional MLS (IRMLS)
IDX information provided by the Indiana Regional MLS
Listed by Ryan Orr • RE/MAX Real Estate Groups • Cell: 765-744-9500
Sarah Mast

Sarah Mast

Broker | License ID: RB15001552

+1(765) 618-0155

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615 - 615 1/2 Madison Avenue