$750,000
SOLD APR 2, 2025

2701 Mount Vernon Ave Evansville, IN 47712

12 Beds
12 Baths
7,920 Sq Ft
0.31 Acres

Recently Sold

$95 Per Sq Ft

6% Below List Price

16 Days on Market

Highlights

  • Balcony
  • Forced Air Heating and Cooling System
  • Carpet
  • Eat-In Kitchen

About This Home

As of April 2025

Fantastic Income Producing 12 UNIT Apartment Building in a superb location! This great property is located within close proximity to schools, restaurants, shopping and last but not least: the fabulous shopping and entertainment Mecca known as West Franklin Street! There are four units on each floor and an income-producing Laundry Room in the lower level. Each unit has an Eat-In Kitchen, Living Room, Bathroom, and multiple closets. The top two levels (8 units) have a balcony. Most units have updated HVAC. Some recent improvements: updated Laundry, new windows, updated Kitchens and Bathrooms, dishwashers in most units, and newer floor coverings. All appliances are included. Roof is believed to be approximately 14 years old. Two commercial washers and dryers included also. Ample parking. All units are occupied. Must have appointment to show. THIS IS A GREAT OPPORTUNITY TO OWN A FANTASTIC INCOME GENERATING PROPERTY IN A SUPER LOCATION! Will sell as a package with other properties: 14 W Eichel (10 unit building); 825 E Blackford (3 or 4 units); 1911 Lincoln (multi-use, perfect for student housing right by University of Evansville).

Last Agent to Sell the Property

Kent Brenneman

eXp Realty, LLC Brokerage Phone: 812-480-4663 Listed on: 02/14/2025

eXp Realty, LLC

Last Buyer's Agent

Kent Brenneman

eXp Realty, LLC Brokerage Phone: 812-480-4663 Listed on: 02/14/2025

eXp Realty, LLC

Property Details

Home Type

  • Apartment

Est. Annual Taxes

  • $3,384

Year Built

  • Built in 1970

Lot Details

  • 0.31 Acre Lot
  • Lot Dimensions are 123 x 111
  • Sloped Lot

Parking

  • 15 Parking Spaces

Home Design

  • Brick Exterior Construction

Interior Spaces

  • 7,920 Sq Ft Home
  • 3-Story Property
  • Carpet
  • Eat-In Kitchen

Bedrooms and Bathrooms

  • 12 Bedrooms
  • 12 Full Bathrooms

Schools

  • Tekoppel Elementary School
  • Helfrich Middle School
  • Francis Joseph Reitz High School

Additional Features

  • Balcony
  • Forced Air Heating and Cooling System

Listing and Financial Details

  • Tenant pays for electric
  • The owner pays for sewer, trash collection, water
  • Assessor Parcel Number 82-05-23-018-033.053-025
  • Seller Concessions Not Offered

Community Details

Overview

  • 12 Units

Pet Policy

  • Pet Restriction

Building Details

  • Electric Expense $4,000
  • Insurance Expense $7,350
  • Maintenance Expense $3,500
  • Water Sewer Expense $3,500

Property Details

Home Type

Apartment

Est. Annual Taxes

$3,384

Year Built

Built in 1970

Lot Details

0

Listing Details

  • Class: INVESTMENT
  • Property Sub Type: Apartment Building
  • Year Built: 1970
  • Age: 55
  • Style: Multi-Story (3+)
  • Bedrooms: 12
  • Number Above Grade Bedrooms: 12
  • Total Bathrooms: 12
  • Total Full Bathrooms: 12
  • Legal Description: Helfrich HTS L 53 Sec 8
  • Parcel Number ID: 82-05-23-018-033.053-025
  • Platted: Yes
  • Amenities: Balcony, Eat-In Kitchen
  • Sp Lp Percent: 93.87
  • Annual Miscellaneous: 1200
  • Monthly Gross Income: 6915
  • Year Taxes Payable: 2025
  • Special Features: None

Interior Features

  • Total Sq Ft: 7920
  • Total Finished Sq Ft: 7920
  • Above Grade Finished Sq Ft: 7920
  • Price Per Sq Ft: 94.7
  • Flooring: Carpet
  • Number Of Disposals: 12
  • Number Of Ranges Ovens: 12

Exterior Features

  • Exterior: Brick
  • Stories: 3

Garage/Parking

  • Number Of Parking Spaces: 15

Utilities

  • Cooling: Central Air
  • Heating Fuel: Forced Air
  • Sewer: City
  • Water Utilities: City
  • Annual Electric: 4000
  • Annual Insurance Expense: 7350
  • Annual Maintenance Expense: 3500
  • Annual Water Sewer Expense: 3500
  • Number Of W D Hookups: 1

Condo/Co-op/Association

  • Pet Restrictions: Yes

Schools

  • School District: Evansville-Vanderburgh School Corp.
  • Elementary School: Tekoppel
  • Middle School: Helfrich
  • High School: Francis Joseph Reitz
  • Elementary School: Tekoppel

Lot Info

  • Lot Description: Slope
  • Lot Dimensions: 123 x 111
  • Estimated Lot Sq Ft: 13504
  • Estimated Lot Size Acres: 0.31

Rental Info

  • Lease Term: 1 Year
  • Owner Pays: Sewer, Trash Collection, Water
  • Tenant Pays: Electric

Multi Family

  • Gross Monthly Rent: 6915
  • Number Of Dishwashers: 10
  • Number Of Dryers: 1
  • Number Of Refrigerators: 12
  • Number Of Units: 12
  • Number Of Washers: 1
  • Num Of1 Bedrooms: 12
  • Num Of Units Rented: 12

Tax Info

  • Annual Property Tax: 3384

MLS Schools

  • High School: Francis Joseph Reitz
  • Middle School: Helfrich
  • School District: Evansville-Vanderburgh School Corp.

Range of Values:

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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 Change Sq Ft Price
04/02/2025 04/02/25 Sold $750,000 -6.1% $95 / Sq Ft
03/02/2025 03/02/25 Pending -- -- --
02/14/2025 02/14/25 For Sale $799,000 +23.9% $101 / Sq Ft
08/02/2024 08/02/24 Sold $645,000 0.0% $81 / Sq Ft
06/04/2024 06/04/24 Pending -- -- --
05/08/2024 05/08/24 For Sale $645,000 0.0% $81 / Sq Ft
03/13/2024 03/13/24 Pending -- -- --
03/11/2024 03/11/24 For Sale $645,000 -- $81 / Sq Ft
Source: Indiana Regional MLS

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

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Map

Source: Indiana Regional MLS

MLS Number: 202504823

Indiana Regional MLS