Income stream opportunity located down the street from Promenade Park. Retail space on main floor is occupied by single tenant on a 3-year lease beginning June 2019. Upstairs has 4 new tenants with leases beginning in Feb-June 2019. Tenants pay base rent plus electrical. Owner pays all other utilities and expenses. Building has new tear-off roof (2017). Main level has all new flooring, paint, LED lighting and electrical (2019). The property is adjacent to residential neighborhoods and positioned on an urban retail corridor that provides fantastic foot traffic through the area.
Off market
$267,700
1833 N Wells St, Fort Wayne, IN 46808
4beds
3,843sqft
MultiFamily
Built in 1930
-- sqft lot
$267,700 Zestimate®
$70/sqft
$-- HOA
What's special
Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 4
- Bathrooms: 6
- Full bathrooms: 4
- 1/2 bathrooms: 2
Heating
- Forced air, Gas
Appliances
- Included: Range / Oven, Refrigerator
Features
- Flooring: Laminate
- Basement: Unfinished, Block, Unit 1 Basement
Interior area
- Total interior livable area: 3,843 sqft
- Finished area below ground: 0
Property
Features
- Entry location: Unit 1 Level(Main),Unit 2 Level(Upper),Unit 3 Level(Main),Unit 4 Level(Upper)
- Exterior features: Brick
Lot
- Size: 2,500 sqft
- Features: Level, City Lot, City/Town/Suburb
Details
- Zoning: County Zoning(R2), City Zoning(R2)
- Zoning description: R-2 with Commercial Variance
Construction
Type & style
- Home type: MultiFamily
Condition
- Year built: 1930
Utilities & green energy
- Electric: Indiana Michigan Power
- Gas: NIPSCO
- Sewer: City
- Water: City, Fort Wayne City Utilities
Community & neighborhood
Location
- Region: Fort Wayne
HOA & financial
Other financial information
- Total actual rent: 34800
Other
Other facts
- Heating: Forced Air, Natural Gas
- Roof: Rubber, Flat
- Appliances: Range/Oven, Refrigerator, Water Heater, Electric Water Heater
- Basement: Unfinished, Block, Unit 1 Basement
- HeatingYN: true
- Flooring: Laminate
- CoolingYN: true
- RoomsTotal: 2
- LeaseTerm: 12 Months, 3 or More Years, Unit 1 Rent Frequency(Monthly), Unit 2 Rent Frequency(Monthly), Unit 3 Rent Frequency(Monthly), Unit 4 Rent Frequency(Monthly), Unit 5 Rent Frequency(Monthly)
- OwnerPays: Sewer, Trash Collection, Grounds Care, Insurance, Water, Taxes, Snow Removal, Maintenance, Heating, Fuel
- ConstructionMaterials: Brick
- NumberOfUnitsTotal: 5
- LotFeatures: Level, City Lot, City/Town/Suburb
- Cooling: Window Unit(s)
- PetsAllowed: Yes
- NumberOfUnitsLeased: 5
- FarmLandAreaUnits: Square Feet
- TrashExpense: 0
- MaintenanceExpense: 500
- TenantPays: Electricity, Unit 1 Electric, Unit 2 Electric, Unit 3 Electric, Unit 4 Electric, Unit 5 Electric
- WaterSewerExpense: 1800
- BelowGradeFinishedArea: 0
- GrossIncome: 2900
- InsuranceExpense: 1200
- TotalActualRent: 34800
- WaterSource: City, Fort Wayne City Utilities
- ElectricExpense: 1200
- FuelExpense: 2400
- OtherExpense: 0
- Sewer: City
- ZoningDescription: R-2 with Commercial Variance
- MlsStatus: Active
- EntryLocation: Unit 1 Level(Main),Unit 2 Level(Upper),Unit 3 Level(Main),Unit 4 Level(Upper)
- Gas: NIPSCO
- Electric: Indiana Michigan Power
- Zoning: County Zoning(R2), City Zoning(R2)
- NetOperatingIncome: 25550
Services availability
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$267,700
2% more+ $5,354
With Zillow Showcase(estimated)
$273,054