627 Frederick St, New Harmony, IN 47631

Excellent income producing property - 11+% cap rate managed and 13+% self-managed. Recent rehab offers years of low maintenance and repair costs. This property has been extensively remodeled. It offers a mix of 3 - 1bedroom, 3 - 2bedroom, and 2 -3bedroom units that have all new flooring and paint. The rental units also include six new HVAC units and several newer appliances. Each unit includes laundry hookups, in addition to a common area coin laundry room located on the lower level. The building has extra square footage in the lower level that could be used to store property maintenance items or paid storage areas. The lower level has been professionally waterproofed with a lifetime limited warranty, and is supported by two sump pumps. The seller is continuing to update the property with new paint inside and out. Outside, the property has off street parking, and a large lot in the rear that could be used for additional parking. The building is brick with aluminum trim for low maintenance operation. The metal roof and all of the windows in the front of the building are approximately one year old. The property is located near the city park and within walking distance of downtown area shopping and restaurants.