Description

Unlock the potential of this gutted triplex, ready for transformation into a high-yield 4-unit Quadplex. This property is primed for the savvy investor willing to do the renovations. Property Details: Current Setup: Triplex, 2 Water Heaters, 3 Electric Panel Boxes. Conversion Potential: 4-unit Quadplex with 1 Bed/1 Bath or Studio apartments Utility Upgrade: Can be upgraded to 4 separate electric meters Renovation Scope: Electrical upgrade needed (suggested upgrades: 4 tankless water heaters, additional electric panel box to have 4 total), Siding repairs, Porch railing replacements, Repainting, Minor foundation repair, Financial Highlights: Section 8 FMR in 47362: Up to $730/month per unit Projected Gross Income: $2,920/month post-renovation This property presents an excellent value-add opportunity with significant upside potential. With the right improvements, you can maximize your ROI and secure steady income.