NOT LISTED FOR SALE

2302 N Ritter Ave Indianapolis, IN 46218

Eastside Neighborhood
-- Bed
-- Bath
-- Sq Ft
2.01 Acres

Last Sold July 28, 2017

Last sale price $900,000

14 Days on Market

About This Home

As of July 2017

Lots of UPSIDE in a very well maintained 42 unit all brick apartment building! 5.9% cap rate with a potential 12.7 cap rate based on a 95% occupancy! Separately metered electric and gas. Owner pays water and trash removal. Coin Laundry facility on site. Near busline, interstate, shopping, hospital, and restaurants. 15 minutes from downtown Indy. A great way to step up your portfolio!

Last Agent to Sell the Property

Joe Bottorff

Dropped Members License #RB14029260 Listed on: 05/01/2017

Last Buyer's Agent

Joe Bottorff

Dropped Members License #RB14029260 Listed on: 05/01/2017

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $9,432

Year Built

  • Built in 1969

Lot Details

  • 2.01

Home Design

  • Brick Exterior Construction
  • Slab Foundation

Additional Features

  • 3-Story Property
  • 2.01 Acre Lot

Listing and Financial Details

  • Tenant pays for cable tv electricity gas insurance
  • The owner pays for inshazard insurance lawncare taxes sewer trash collection water
  • Assessor Parcel Number 490727103002000701

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$9,432

Year Built

Built in 1969

Lot Details

0

Listing Details

  • Property Sub Type: 5+Units Commercial
  • Architectural Style: ApartBldg
  • Builder Name: Ritter Manor
  • Property Type: Residential Income
  • New Construction: No
  • Tax Year: 2015
  • Year Built: 1969
  • Lot Size Acres: 2.01
  • Road Frontage Type: City Street
  • Road Surface Type: Asphalt
  • Subdivision Name: NO SUBDIVISION
  • Inspection Warranties: Not Applicable
  • Property Description: Lots of UPSIDE in a very well maintained 42 unit all brick apartment building! 5.9% cap rate with a potential 12.7 cap rate based on a 95% occupancy! Separately metered electric and gas. Owner pays water and trash removal. Coin Laundry facility on site. Near busline, interstate, shopping, hospital, and restaurants. 15 minutes from downtown Indy. A great way to step up your portfolio!
  • Transaction Type: Sale
  • Unit Count: 3
  • Conversion: 0
  • Special Features: None

Interior Features

  • Basement: No
  • Levels: Three Or More
  • Owner Pays: InsHazard,Insurance,Lawncare,Taxes,Sewer,Trash Collection,Water
  • Possible Use: Apt>20
  • Sq Ft Main Upper: 0
  • Total Sq Ft: 0
  • Gross Area Sq Ft: 38967
  • Laundry: Common

Exterior Features

  • Construction Materials: Brick
  • Disclosures: Not Applicable
  • Exterior Features: Driveway Asphalt,Fence Partial
  • Foundation Details: Slab
  • Road Access: CityStreet
  • Interstate: Ramp1-3mi

Garage/Parking

  • Unit Parking: Parking Lot,Paved Area
  • Auto Parking: 77
  • Auto Surface: asphalt
  • Parking Spacesper Unit: 1.8000

Utilities

  • Solid Waste: 0
  • HVAC: Individual AC & Furnaces

Fee Information

  • Insurance Expenses: 11962
  • Insurance Expenses S F: 0.3000

Lot Info

  • Current Use: Apt>20
  • Parcel Number: 490727103002000701
  • Zoning: D4
  • Acres: 1-3 Acres
  • Lot Information: Access Street,Busline
  • Lot Number: 0
  • Lot Size: 87556

Green Features

  • Green Certification Y N: 0

Rental Info

  • Tenant Pays: Cable TV,Electricity,Gas,Insurance

Multi Family

  • Net Operating Income: 65480

Tax Info

  • Tax Annual Amount: 9432
  • Semi Annual Property Tax Amt: 4716
  • Tax Exemption: None

MLS Schools

  • School District: Indianapolis Public Schools

Range of Values:

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Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
07/28/2017 07/28/17 Sold $900,000 -18.2% --
05/16/2017 05/16/17 Pending -- -- --
05/01/2017 05/01/17 For Sale $1,100,000 -- --
Source: MIBOR Broker Listing Cooperative®

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

  • J

    Seller's Agent in 2017

    Joe Bottorff

    Dropped Members

    Section Image
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Map

Source: MIBOR Broker Listing Cooperative®

MLS Number: MBR21481870

MIBOR Broker Listing Cooperative®
Indiana Marion County Indianapolis 46218 Eastside

2302 N Ritter Ave, Indianapolis, IN

This home is located at 2302 N Ritter Ave, Indianapolis, IN 46218 since 01 May 2017. This property was built in 1969. 2302 N Ritter Ave is a home located in Marion County with nearby schools including Arlington Woods Elementary School No. 99, Thomas D. Gregg School No. 15, and Washington Irving School 14.

Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.

MIBOR Broker Listing Cooperative® Based on information submitted to the MLS GRID. All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. Some IDX listings have been excluded from this website.

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