7020 - 7032 Twin Oaks Drive, Indianapolis, IN 46226

Property Description

This building is currently set up as 7 units - 2 units are 1bd 1bath = There are 2 units with 3bd 2bath - 2 units with 3 Beds 1 bath - There is one very large 2bd 1 bath that should be divided to 2 units. Based on the rent schedule for the apartment complex immediately to the East of this building & current Section 8 allowable rents you can expect Gross Rents to be at $125,000yr (@100% occupancy). Once the rehab/cash out is complete you'll have a Building worth approx. 1.2 - 1.4 mil. The Building was stabalized & the roof & decking were torn off & replaced in the summer of 2023. The building is gutted to the studs. All 7 sewer lines are clear to the street (July 2026). The parking lot is large enough to park Food Trucks or add storage or a laundry room. A fresh survey and 8' privacy fence along the North Side have been completed. The walking traffic is huge in this area - Placing vending machines in the alcoves could generate significant additional income. A recent survey & interior scan is now available. The East side of Indianapolis is considered a good rental area with grocery choices, shopping, mass transit (1 blk away) and entry level and labor jobs available close by. The pictures have been updated and video added.