$650,000
$25K PRICE DROP

371 & 383 W 12th St Peru, IN 46970

Estimated payment $3,866/month

Total Views 8,599
22 Beds
15 Baths
12,306 Sq Ft
$53 Price per Sq Ft

Highlights

  • In Ground Pool
  • 1.52 Acre Lot
  • Luxury Vinyl Tile Flooring
  • Elmwood Primary Learning Center Rated A-
  • Shed
  • Central Air

About This Home

Discover an excellent investment opportunity with this multi-building property featuring a total of 15 rentable units in the heart of Peru (8 one bedroom units and 7 two bedroom units). Spread across multiple structures, this property offers a strong blend of stability and value-add potential for any investor. Many of the units have been freshly painted within the last few years, and several feature updated flooring for improved durability and tenant appeal. Two of the buildings are equipped with long-lasting metal roofs, reducing future maintenance needs and providing added peace of mind. With a mix of month-to-month and long-term leases, this property offers both immediate income and room for strategic rent growth. A rare chance to acquire a multi-unit package with solid fundamentals and continued upside in a steady rental market.

Listing Agent

Cherie Smith

True Realty Brokerage Phone: 765-438-5971 Listed on: 11/22/2025

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $6,240

Year Built

  • Built in 1880

Lot Details

  • 1.52 Acre Lot
  • Irregular Lot

Home Design

  • Slab Foundation
  • Vinyl Construction Material

Interior Spaces

  • 2-Story Property

Flooring

  • Carpet
  • Laminate
  • Luxury Vinyl Tile

Bedrooms and Bathrooms

  • 22 Bedrooms
  • 15 Full Bathrooms

Basement

  • Basement Cellar
  • Crawl Space

Parking

  • 15 Parking Spaces
  • Gravel Driveway
  • Parking Lot
  • Off-Street Parking

Outdoor Features

  • In Ground Pool
  • Shed

Schools

  • Elmwood/Blair Pointe Elementary School
  • Peru Middle School
  • Peru High School

Utilities

  • Central Air
  • Window Unit Cooling System
  • Heating System Uses Gas

Listing and Financial Details

  • The owner pays for building insurance, heating, sewer, tax, water
  • Assessor Parcel Number 52-08-28-301-054.000-016
  • Seller Concessions Not Offered

Community Details

Overview

  • 6 Buildings
  • 15 Units

Recreation

  • Community Pool

Pet Policy

  • Pets Allowed with Restrictions

Building Details

  • 15 Separate Electric Meters
  • 10 Separate Gas Meters
  • Fuel Expense $1,600
  • Insurance Expense $5,000
  • Water Sewer Expense $9,924

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$6,240

Year Built

Built in 1880

Lot Details

1.52 Acres

Listing Details

  • Class: INVESTMENT
  • Year Built: 1880
  • Bedrooms: 22
  • Total Bathrooms: 15
  • Total Full Bathrooms: 15
  • Legal Description: Miami County Parcel Numbers 52-08-28-301-054.000-016, 52-08-28-301-055.000-016, & 52-08-28-301-061.000-016
  • Parcel Number ID: 52-08-28-301-054.000-016
  • Platted: Yes
  • Amenities: Off Street Parking
  • Road Access: City
  • Road Surface: Asphalt
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Total Sq Ft: 13722
  • Total Finished Sq Ft: 12306
  • Above Grade Finished Sq Ft: 12306
  • Below Grade Sq Ft: 1416
  • Basement: Yes
  • Basement Foundation: Crawl, Slab, Cellar
  • Flooring: Carpet, Laminate, Vinyl Tile
  • Main Level Sq Ft: 10250
  • Total Below Grade Sq Ft: 1416
  • Number Of Ranges Ovens: 15

Exterior Features

  • Exterior: Aluminum, Vinyl
  • Pool: Below Ground
  • Pool: Yes
  • Stories: 2
  • Outbuilding: Shed
  • Outbuilding Sq Ft: 80

Garage/Parking

  • Number Of Parking Spaces: 15
  • Parking: Gravel, Lot, Off Street

Utilities

  • Cooling: Central Air, Window
  • Heating Fuel: Electricity, Gas
  • Sewer: City
  • Water Utilities: City
  • Annual Fuel Expense: 1600
  • Annual Insurance Expense: 5000
  • Annual Water Sewer Expense: 9924
  • Number Electric Meters: 15
  • Number Gas Meters: 10

Condo/Co-op/Association

  • Pet Restrictions: Yes

Schools

  • Elementary School: Elmwood/Blair Pointe

Lot Info

  • Lot Description: Irregular
  • Lot Dimensions: Irregular
  • Estimated Lot Sq Ft: 66211
  • Estimated Lot Size Acres: 1.52

Rental Info

  • Lease Term: Month to Month, 1 Year
  • Owner Pays: Building Insurance, Heating, Sewer, Tax, Water
  • Tenant Pays: Electric, Fuel

Tax Info

  • Annual Property Tax: 6240

Multi Family

  • Number Of Refrigerators: 15
  • Number Of Units: 15
  • Num Of1 Bedrooms: 8
  • Num Of2 Bedrooms: 7

MLS Schools

  • High School: Peru
  • Middle School: Peru
  • School District: Peru Community Schools

Map

Range of Values:

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Value Increase
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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
12/17/2025 12/17/25 Price Changed $650,000 -3.7% $53 / Sq Ft
11/22/2025 11/22/25 For Sale $675,000 -- $55 / Sq Ft
Source: Indiana Regional MLS

Purchase History

Date Type Sale Price Title Company
Warranty Deed -- Keith Thomas A
Source: Public Records

Source: Indiana Regional MLS

MLS Number: 202547048

Indiana Regional MLS

APN: 52-08-28-301-054.000-016

Indiana Miami County Peru 46970

371 & 383 W 12th St, Peru, IN

For Sale

MultiFamily

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.

Indiana Regional MLS 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. IDX information is provided exclusively for personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but not guaranteed.
Based on information submitted to the MLS GRID

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