1318 South Street

Lafayette, IN 47901

$320,000
Last Sold Price
4
Beds
2,568 Sq. Ft.
$125 / Sq. Ft.
2,568
Sq. Ft.
$125
per Sq. Ft.

Description

Investment opportunity in a prime location! This 4-unit multi-family property offers excellent investment potential. Located in a desirable neighborhood near downtown Lafayette and Purdue University, this property boasts strong rental demand and stable income. Property highlights include; three of the four units recently renovated, providing modern and comfortable living spaces for tenants, potential value-add with an unfinished walk up attic that offers potential for additional living space or storage,...Investment opportunity in a prime location! This 4-unit multi-family property offers excellent investment potential. Located in a desirable neighborhood near downtown Lafayette and Purdue University, this property boasts strong rental demand and stable income. Property highlights include; three of the four units recently renovated, providing modern and comfortable living spaces for tenants, potential value-add with an unfinished walk up attic that offers potential for additional living space or storage, ample off-street parking for residents and guests, and a convenient on-site coin operated laundry facility for tenants and additional revenue. The property’s proximity to downtown Lafayette and Purdue University ensures consistent and strong rental income. Don't miss this opportunity!
  1. Listed by Jason Conley • Raeco Realty

Property Details for 1318 South Street

Style
Three Story
Architectural Style
Historic
Subdivision
None
Waterfront
No
Water Features
None
Pet Restrictions
No
LISTING UPDATED: 12/19/2024 02:30 PM

Property Details for 1318 South Street

StatusSold
MLS #202444799
Days on Market2
Taxes$2,618 / year
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeMulti Family / Fourplex
Year Built1890
Lot Size0.14 AC / 6,316 SF
CountyTippecanoe County

Building Information for 1318 South Street

Stories3Residences4Year Built1890Building Size-Lot Size0.14 AC / 6,316 SF

Property Information for 1318 South Street

Summary
Location and General Information
  • Area: Tippecanoe County
  • City: Lafayette
  • Zip Code: 47901
  • State: IN
  • Township: Fairfield
  • Geo Latitude: 40
  • Geo Longitude: -87
  • Fips Code: 18157
  • Directions To Property: E on Main house on the left
  • Location: City/Town/Suburb, Historic District, Near College Campus
Taxes and HOA
  • Assessed Value $: $190,000.00
  • Assoc Dues Frequency: Not Applicable
  • Year Taxes Payable: 2023
  • Parcel Number Id: 79-07-21-365-007.000-004
School Information
  • School District: Lafayette
  • Elementary: Thomas Miller
  • Middle School: Sunnyside/Tecumseh
  • High School: Jefferson
Parking
  • Number Of Parking Spaces: 5
  • Parking: Off Street, Private, Street
Property
Lot Information
  • Class: INVESTMENT
  • Property Subtype: Fourplex
  • Approx Lot Size Acres: 0.145
  • Lot Dimensions: 50x126
  • Below Grade Unfin Sqft: 0.0
  • Total Square Feet: 2568.0
  • Approx Lot Size Sqft: 6316.0
  • Above Grade Finished Sqft: 2568.0
  • Below Grade Finished Sqft: 0.0
  • Total Below Grade Sqft: 0.0
  • Total Finished Sqft: 2568.0
  • Above Grade Unfin Sqft: 0.0
  • Lot Description: 0-2.9999
Property and Assessments
  • New Construction: No
  • Year Built: 1890
  • Age: 134
  • Documents Available: Floor Plan, LBP Form, Owners Statement, Sellers Disclosure
  • Planned Unit Development: No
Utilities
  • Cable Company: Comcast
  • Electric Company: Duke Energy Indiana
  • Gas Company: CenterPoint Energy
  • Sewer: City
  • Water Utility: City
Interior and Exterior Features
Exterior Features
  • Amenities: Basement, Ceiling Fan, Off Street Parking, Storage, Attic-Walk-up, Cable Ready, Detector-Smoke, Foyer Entry, Landscaped, Water Heater Gas, Sump Pump
  • Common Amenities: Laundry Facilities
  • Driveway: Concrete, Stone
  • Exterior: Vinyl, Wood
  • Fence: None
  • Outbuilding: None
  • Platted: Yes
  • Pool: No
  • Roof Material: Asphalt, Shingle
Interior Features
  • Number of Electric Meters: 4
  • Number of Gas Meters: 4
  • Number of Dishwashers: 4
  • Number of Disposals: 4
  • Number of Dryers: 1
  • Number of Microwaves: 4
  • Number of Ranges/Ovens: 4
  • Number of Refrigerators: 4
  • Number of W/D Hookups: 0
  • Number of Washers: 1
  • Number Water Meters: 1
  • Basement Material: Block
  • Basement: No
  • Basement/Foundation: Full Basement, Unfinished
  • Cooling: Central Air
  • Flooring: Carpet, Laminate, Vinyl
  • Heating/Fuel: Forced Air
  • Stories: 3
  • Number of Above Grade Bedrooms: 4
  • Number of Below Grade Baths: 0
  • Number of Below Grade Bedrooms: 0
  • Total Number of Bedrooms: 4
  • Total Number of Full Baths: 4
  • Total Number of Half Baths: 0
  • Total Baths: 4
  • Number Total Rooms Below Grade: 0
  • Num Of 1 Bedrooms: 4
  • Num Of 2 Bedrooms: 0
  • Num Of 3 Bedrooms: 0
  • Num Of 4 Bedrooms: 0
Multi Family
Multi-Family Information
  • Num of Efficiencies: 0
  • Num of Units Rented: 4
  • Number of Buildings: 1
  • Number of Units: 4
  • Restrictions: No
Income & Expenses Information
  • Annual Electric Expense: $317.33
  • Annual Fuel Expense: $355.50
  • Annual Gross Rent $: $38,700
  • Annual Insurance Expense: $3,353
  • Annual Maint. Expense: $2,500
  • Annual Misc: $2,000
  • Annual Net Income: $26,006
  • Annual Property Tax: $2,618
  • Annual Trash Expense: $0
  • Annual Water/Sewer Exp: $1,551
  • Gross Monthly Income: $3,225
  • Gross Monthly Rent: $3,225
Unit Information
Unit 1
  • Unit 1 SqFt: 1086
  • Unit 1-Num of Bathrooms: 1
  • Unit 1-Num of Bedrooms: 1
  • Unit 1-Num of Rooms: 3
  • Unit 1-Basement: No
  • Unit 1-Currently Rented: Yes
  • Unit 1-Electric: Tenant
  • Unit 1-Garage: No
  • Unit 1-Gas: Tenant
  • Unit 1-Laundry Room: None
  • Unit 1-Lease Exp Date: 03-28-2025
  • Unit 1-Level: Main
  • Unit 1-Rent Frequency: Monthly
  • Unit 1-Unit Number: 1
  • Unit 1-Unit Rent $: $725
Unit 2
  • Unit 2 SqFt: 736
  • Unit 2-Num of Bathrooms: 1
  • Unit 2-Num of Bedrooms: 1
  • Unit 2-Num of Rooms: 3
  • Unit 2-Basement: No
  • Unit 2-Currently Rented: Yes
  • Unit 2-Electric: Tenant
  • Unit 2-Garage: No
  • Unit 2-Gas: Tenant
  • Unit 2-Laundry Room: None
  • Unit 2-Lease Exp Date: 08-29-2025
  • Unit 2-Level: Main
  • Unit 2-Rent Frequency: Monthly
  • Unit 2-Unit Number: 2
  • Unit 2-Unit Rent $: $875
Unit 3
  • Unit 3 SqFt: 804
  • Unit 3-Num of Bathrooms: 1
  • Unit 3-Num of Bedrooms: 1
  • Unit 3-Num of Rooms: 3
  • Unit 3-Basement: No
  • Unit 3-Currently Rented: Yes
  • Unit 3-Electric: Tenant
  • Unit 3-Garage: No
  • Unit 3-Gas: Tenant
  • Unit 3-Laundry Room: None
  • Unit 3-Lease Exp. Date: 02-25-2025
  • Unit 3-Level: Upper
  • Unit 3-Rent Frequency: Monthly
  • Unit 3-Unit Number: 3
  • Unit 3-Unit Rent $: $775
Unit 4
  • Unit 4 SqFt: 764
  • Unit 4-Num of Bedrooms: 1
  • Unit 4-Num of Rooms: 3
  • Unit 4-Basement: No
  • Unit 4-Currently Rented: Yes
  • Unit 4-Electric: Tenant
  • Unit 4-Garage: No
  • Unit 4-Gas: Tenant
  • Unit 4-Laundry Room: None
  • Unit 4-Lease Exp Date: 06-27-2025
  • Unit 4-Level: Upper
  • Unit 4-Rent Frequency: Monthly
  • Unit 4-Unit Number: 4
  • Unit 4-Unit Rent $: $850
Rental
Rental Information
  • Lease Term: 1 Year
  • Owner Pays: Lawn Maintenance, Maintenance, Sewer, Snow Removal, Tax, Trash Collection, Water
  • Tenant Pays: Cable, Cooling, Electric, Heating

Property History for 1318 South Street

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 1318 South Street

Taxable ValueLand$16,000Additions$114,900Total$130,900
Tax Record2023$2,618 ($218 / month)
Home Facts
Baths4Total Finished SqFt2,568 SqFtAbove Grade Finished SqFt2,568 SqFtStories1Lot Size6,299 SqFtStyleMulti-Family Dwelling (2-4)Year Built1890CountyTIPPECANOEAPN79-07-21-365-007.000-004

Schools near 1318 South Street

This home is within Lafayette School Corporation.
Rating
School
Type
Grades
Distance
Public - K to 4
Public - 5 to 6
Public - 7 to 8
Public - 9 to 12
Rating
School
Distance
Murdock Elementary School
PublicK to 4

Lafayette Sunnyside Middle School
Public5 to 6

Lafayette Tecumseh Jr High School
Public7 to 8

Jefferson High School
Public9 to 12

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

Similar Homes

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Listing Courtesy of Raeco Realty

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