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Denise Jarboe

denise@theharrisgrouprealty.com +1(270) 993-6433

Listed by Amanda Conyers • Elite Home and Land Realty

$150,000

Est. payment - /mo

4 Beds

4 Baths

2,650 SqFt

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Key Details

Property Type Single Family Home

Sub Type Site-Built Home

Listing Status Active

Purchase Type For Sale

Square Footage 2,650 sqft

MLS Listing ID IRM202642135

Style Ranch

Bedrooms 4

Full Baths 4

HOA Y/N No

Year Built 1977

Annual Tax Amount $1,671

Tax Year 2026

Lot Size 2.300 Acres

Acres 2.3

Lot Dimensions 100,188 sqft

Property Sub-Type Site-Built Home

Property Description

4 RENTAL UNITS + 2.3 ACRES = MULTIPLE INCOME & DEVELOPMENT OPPORTUNITIES. RARE OPPORTUNITY TO OWN A FOURPLEX ON 2.3 ACRES JUST MINUTES FROM USI! Located on Evansville's desirable West Side, just 4 minutes west of the University of Southern Indiana off the Lloyd Expressway and just inside Posey County, this property offers an exceptional combination of existing rental units, value-add potential, and room for future expansion! This all-brick fourplex features approximately 2,650 square feet with four individual 1-bedroom, 1-bathroom units, each offering approximately 662 square feet of living space with 8-foot ceilings, a full kitchen with eat-in dining area and living room. The single-story building sits on a slab foundation and features a metal roof, all-electric utilities, septic system, German Township water, and parking for 9+ vehicles. VALUE-ADD OPPORTUNITY! All four units are in need of renovation and updating, offering investors the ability to improve the property and increase rental income. Two units are currently tenant-occupied (month to month long term tenants), while two are vacant and available for renovations. With USI just minutes away, the location offers potential appeal to students, faculty, corporate housing, and traditional long-term renters. For an owner-occupant investor, the property also presents an opportunity to live in one unit while collecting rental income from the others. THE REAL BONUS... OVER 2 ACRES OF ADDITIONAL OPEN LAND! With the existing fourplex strategically positioned near the eastern corner of the 2.3-acre parcel, the remaining acreage creates opportunities beyond the existing rental income. Explore the potential for an additional multifamily building, self-storage facilities, sub-divide for a single-family residence, or agricultural leasing to a neighboring farmer. The possibilities for maximizing this property's long-term value are worth exploring! All potential uses are subject to zoning, subdivision requirements, utility availability, and applicable approvals. Whether your strategy is to RENOVATE & HOLD, EXPAND YOUR RENTAL PORTFOLIO, CREATE ADDITIONAL INCOME STREAMS, OR EXPLORE FUTURE DEVELOPMENT, this property offers multiple avenues for potential investment growth in a convenient location near USI, Evansville's West Side amenities, and the Lloyd Expressway. Property being sold AS-IS. Septic was last pumped by TSF of St Wendle April 2021. Tenants' Rights Apply. Two units vacant. All showings by appointment only.

Location

State IN

County Posey County

Rooms

Basement Slab

Interior

Interior Features Range/Oven Hook Up Elec, Tub/Shower Combination

Heating Electric, Forced Air

Fireplaces Type None

Fireplace N

Exterior

Parking Features Concrete

Fence None

View Y/N true

Building

Lot Description Level

Story One

Sewer Septic Tank

Water Public

Level or Stories One

New Construction No

Schools

Elementary Schools Marrs

Middle Schools Mount Vernon

High Schools Mount Vernon

School District Msd Of Mount Vernon

Others

Pets Allowed No

Tax ID 65-14-01-200-010.001-019

Acceptable Financing IRM202642135

Listing Terms IRM202642135

Special Listing Condition None

Virtual Tour https://www.propertypanorama.com/instaview/irmls/202642135

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Denise Jarboe

+1(270) 993-6433

Broker Associate License ID: RB20000819

6223 Fox Ridge RD Evansville, IN 47712

Denise Jarboe

Key Details

Location

Rooms

Interior

Exterior

Building

Schools

Others

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