1027 Lake Ave Fort Wayne, IN 46805
Northside NeighborhoodEstimated payment $2,087/month
Highlights
- Porch
- Level Lot
- Carpet
- Hot Water Heating System
About This Home
Turnkey 4-Plex, fully occupied, generating $3,651 monthly income, ideally located within walking distance of Lakeside Park. Exterior freshly painted in 2024. All units rehabbed prior to tenant move-in, featuring updated paint, carpet and appliances as needed. Three of four tenants have been in place since 2023, ensuring stable income. This well-maintained, income-producing property is a must-see investment opportunity. Option to purchase additional property at 1011 Lake Ave. Tenants require 48-hour notice for showings and will be present. Owner covers utilities, averaging $575 per month. Off-street parking in rear.
Listing Agent
Beach Vibes Realty Brokerage Email: rachelmh.realty@gmail.com Listed on: 10/08/2025
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $4,355
Year Built
- Built in 1900
Lot Details
- 6,750 Sq Ft Lot
- Lot Dimensions are 45x150
- Level Lot
Home Design
- Quadruplex
- Shingle Siding
- Vinyl Construction Material
Interior Spaces
- 2.5-Story Property
- Unfinished Basement
- Basement Fills Entire Space Under The House
Flooring
- Carpet
- Laminate
Bedrooms and Bathrooms
- 4 Bedrooms
- 4 Full Bathrooms
Parking
- 4 Parking Spaces
- Gravel Driveway
- Off-Street Parking
Schools
- Forest Park Elementary School
- Lakeside Middle School
- North Side High School
Utilities
- Hot Water Heating System
- Gas Water Heater
Additional Features
- Porch
- Suburban Location
Listing and Financial Details
- Assessor Parcel Number 02-12-01-135-020.000-074
Community Details
Overview
- 4 Units
- Lakeside Park Subdivision
Pet Policy
- Pets Allowed with Restrictions
Building Details
- 1 Separate Electric Meter
- 1 Separate Gas Meter
- 1 Separate Water Meter
- Electric Expense $3,219
- Fuel Expense $1,325
- Insurance Expense $1,576
- Maintenance Expense $500
- Water Sewer Expense $2,200
Map
Home Values in the Area
Average Home Value in this Area
Tax History
| Year | Tax Paid | Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. | Land | Improvement |
|---|---|---|---|---|
| 2025 | $4,355 | $272,200 | $36,200 | $236,000 |
| 2024 | $3,610 | $190,500 | $27,000 | $163,500 |
| 2022 | $2,785 | $123,900 | $17,300 | $106,600 |
| 2021 | $2,735 | $122,100 | $6,900 | $115,200 |
| 2020 | $1,864 | $85,200 | $5,200 | $80,000 |
| 2019 | $1,154 | $53,000 | $9,900 | $43,100 |
| 2018 | $1,162 | $53,000 | $9,900 | $43,100 |
| 2017 | $1,172 | $53,000 | $9,900 | $43,100 |
| 2016 | $1,155 | $53,000 | $9,900 | $43,100 |
| 2014 | $1,087 | $52,300 | $9,000 | $43,300 |
| 2013 | $1,086 | $52,300 | $9,000 | $43,300 |
Property History
| Date | Event | Price | List to Sale | Price per Sq Ft | Prior Sale |
|---|---|---|---|---|---|
| 10/08/2025 10/08/25 | For Sale | $330,000 | +79.3% | $135 / Sq Ft | |
| 07/14/2023 07/14/23 | Sold | $184,000 | -8.0% | $75 / Sq Ft | View Prior Sale |
| 06/09/2023 06/09/23 | Pending | -- | -- | -- | |
| 05/26/2023 05/26/23 | Price Changed | $199,900 | -2.4% | $82 / Sq Ft | |
| 05/08/2023 05/08/23 | Price Changed | $204,900 | -2.4% | $84 / Sq Ft | |
| 05/08/2023 05/08/23 | For Sale | $209,900 | 0.0% | $86 / Sq Ft | |
| 04/27/2023 04/27/23 | Pending | -- | -- | -- | |
| 04/24/2023 04/24/23 | For Sale | $209,900 | -- | $86 / Sq Ft |
Purchase History
| Date | Type | Sale Price | Title Company |
|---|---|---|---|
| Warranty Deed | $184,000 | Centurion Land Title | |
| Warranty Deed | $130,000 | Centurion Land Title | |
| Warranty Deed | -- | Centurion Land Title | |
| Warranty Deed | -- | -- |
Mortgage History
| Date | Status | Loan Amount | Loan Type |
|---|---|---|---|
| Open | $140,625 | New Conventional |
Source: Indiana Regional MLS
MLS Number: 202540713
APN: 02-12-01-135-020.000-074
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