1120 E 30th Street, Anderson, IN 46016
sale
$339,000
|
Other
Courtesy Of Keller Williams Indianapolis Metro North
Unlock significant cash flow and equity with this value-add 8-unit apartment building at 1120 E 30th St, Anderson, IN. Situated on a large, street-to-street 0.29-acre lot with mature trees on a quiet dead-end street, this all-brick, two-story building features a consistent footprint of eight 1-bedroom, 1-bathroom units, each offering 600 sq ft of functional living space with a living room, formal dining room, galley kitchen, and full bath. Five units are currently occupied, generating $3,750/mo in stable immediate income (rents ranging from $600-$900/mo). The remaining three vacant units require varying levels of renovation, presenting a prime opportunity to update and force appreciation. With market rents commanding up to $900/mo per unit, the potential gross monthly revenue is $7,200, positioning this asset to exceed the highly coveted 2% rule. Substantial operational upside exists: electricity and gas are separately metered, allowing a savvy investor to implement a utility bill-back strategy upon lease renewals to aggressively boost NOI. Additional revenue can be generated by adding coin-operated laundry to the basement. Securely designed with front and rear covered common entrances and interior hallways, the property boasts an excellent rental location just 5 minutes from downtown Anderson, Anderson University, and Harrah's Casino & Racetrack, and 10 minutes from Mounds State Park and major freeways. Capitalize on high rental demand. Sold strictly as-is, no seller financing.
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Property Features
- Age: Over 50 Years Old
- Architecture Style: Other
- Building Units: 8
- Exterior Type: Brick
- Floors: 2
- Legal Description: Isenhours 1st 88.75' N Sd 0.0000Acres Str: 00000 Section: Plat: 00 In: Out:
- MLSID: 22098936
- Rooms: Bathroom 6
- Rooms: Bathroom 4
- Rooms: Bathroom 5
- Rooms: Basement
- Rooms: Bathroom 2
- Rooms: Bathroom 3
- Rooms: Bedroom 3
- Rooms: Bedroom 2
- Rooms: Bedroom 1
- Rooms: Bedroom 6
- Rooms: Bedroom 5
- Rooms: Bedroom 4
- Rooms: Bathroom 1
Data powered by Attom Data Solutions. Copyright© 2026. Information deemed reliable but not guaranteed.
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