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Dawn Evans

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$ 715,000

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Active

408 N Jefferson Street Converse, IN 46919

18 Beds

14 Baths

7,880 SqFt

UPDATED:

Key Details

Property Type Condo

Sub Type Apartment Complex

Listing Status Active

Purchase Type For Sale

Square Footage 7,880 sqft

MLS Listing ID 202621117

Style Other

Bedrooms 18

Full Baths 14

Abv Grd Liv Area 7,880

Total Fin. Sqft 7880

Year Built 1970

Annual Tax Amount $6,010

Lot Size 0.450 Acres

Property Sub-Type Apartment Complex

Property Description

14-Unit Apartment Complex | Prime Main Road Location | Value-Add Opportunity Prime investment opportunity in the heart of Converse! This well-maintained 14-unit apartment complex, situated directly on Jefferson Street, offers a stable, income-producing asset with immediate potential for forced appreciation. The property consists of three separate buildings (two triplexes and one 8-plex), providing a flexible and manageable layout. This complex is a true "Value-Add" play. Unit #1 is currently undergoing renovations; the majority of building materials have already been purchased and will convey with the sale, allowing the new owner to finish the project and realize immediate rental income upside. With 10 of the 14 units on the ground level, this property is highly desirable for tenants and maintains consistent demand. Key Property Highlights: • Unit Mix: (4) 2-Bedroom/1-Bath units; (10) 1-Bedroom/1-Bath units. • Property Composition: Three buildings (two triplexes, one 8-plex). 8-plex features a 2-story design with on-site laundry facilities for added monthly revenue. • On-site laundry room featuring commercial-grade machines. The equipment is provided and maintained by a third-party vendor—offering you steady, passive laundry income without the hassle of equipment repairs or maintenance. • Accessibility: Highly accessible design with 10 units featuring ground-level entry. • Prime Accessibility: Located directly on Jefferson St (Main Rd) in Converse. • Immediate Amenities: Situated adjacent to Dollar General for maximum tenant convenience. • Districts: Served by the well-regarded Oak Hill United School Corporation. • Maintenance: Significant capital expenditure already addressed with roofs replaced just 5 years ago. • Upside Potential: Unit #1 near completion—all materials on-site will be transferred to the buyer at closing. Don't miss this opportunity to acquire a turnkey portfolio with built-in equity potential. Current rent roll and operating expense summary are available upon request for qualified buyers. Showings by appointment only.

Location

State IN

County Miami County

Area Miami County

Direction From Marion, follow SR 18 West out of the city. As you enter Converse, you will reach the main thoroughfare, which is Jefferson Street. Head north on Jefferson St and property is located a mile or so down the road on your right.

Rooms

Dining Room 0

Interior

Flooring Mixed

Appliance Building, Land

Laundry , 14

Exterior

Exterior Feature Laundry Facilities

Amenities Available Sump Pump, Other-See Remarks

Roof Type Dimensional Shingles

Total Parking Spaces 14

Building

Lot Description Level, 0-2.9999

Story 2

Structure Type Brick,Vinyl

New Construction No

Schools

Elementary Schools Converse/Sweetser

Middle Schools Oak Hill

High Schools Oak Hill

School District Oak Hill United School Corp.

Others

Virtual Tour https://www.propertypanorama.com/instaview/irmls/202621117

IDX information provided by the Indiana Regional MLS

Listed by Jonathan Preusz • CENTURY 21 Bradley Realty, Inc • Cell: 765-667-1990

NEARBY SCHOOLS & PROPERTIES

Dawn Evans

Real Estate Broker/Realtor | RB19001118

+1(812) 327-8878

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Dawn Evans

408 N Jefferson Street Converse, IN 46919

Key Details

Location

Rooms

Interior

Exterior

Building

Schools

Others

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408 N Jefferson Street