215 & 217 E Second Street Madison, IN 47250

Here is a great opportunity to own an investment property in Historic downtown Madison. The property is two parcels and includes apartments and a commercial space. There are 5 apartments with one of them being a 1 bedroom, 1 bath apartment and the rest are 2 bedrooms, 1 bath. All units have a stove..., refrigerator and microwave. Washer and dryer in all units except the 1 bedroom apartment. Units 2-4 are occupied, unit 1 and studio apartment are vacant. The 1 bedroom is currently being used for storage. Unit 1 has new updates as paint and floor coverings. Owner resides in one of the units and does not pay rent. He would like 60 day possession post closing, with paying no rent. Commercial space is currently occupied by an attorney and pays $1000/month. If all units including the commercial space are rented, the complete monthly income would be $4750. There are no current leases, tenants are month to month. There is a 24 hour notice required for all showings as we must call each tenant and give them notice. If an investment property in a fast growing Historic District peaks your interest, schedule your showing today! Front part of building was built in the 1800s. The back part of the building with apartments was town down and new construction was in 2007. Continue reading