NOT LISTED FOR SALE

401 N Main St Franklin, IN 46131

2 Beds
1 Bath
700 Sq Ft
0.4 Acres

Last Sold January 14, 2021

Last sale price $1,650,000 $2,357 Per Sq Ft

19 Days on Market

About This Home

As of January 2021

What an Opportunity to own this updated 18 unit Apartment Building in Sought After Downtown Franklin! Located on Coveted Main St. Only 1/4 Mile From the Courthouse the Owners have created a truly unique experience for Tenants to enjoy all of the Activities downtown Franklin has to offer. Total Renovation of Main Street Commons completed in 2018 Inside & Out. Offered at Roughly 6.4% Cap Rate based on Trailing 12 Financials. Come see today these opportunities don't happen often.

Last Agent to Sell the Property

Austin Smythe

Smythe & Co, Inc License #RB14048751 Listed on: 09/30/2020

Last Buyer's Agent

Bruce Richardson

Bruce Richardson Realty, LLC

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $7,794

Year Built

  • Built in 1972

Lot Details

  • 0.4

Parking

  • Driveway

Home Design

  • Traditional Architecture
  • Block Foundation

Additional Features

  • 3-Story Property
  • 0.4 Acre Lot
  • Basement

Listing and Financial Details

  • Tenant pays for electricity gas insurance
  • The owner pays for insurance lawncare taxes sewer trash collection water other
  • Assessor Parcel Number 410814042067000009

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$7,794

Year Built

Built in 1972

Lot Details

0

Listing Details

  • Property Sub Type: 5+Units Commercial
  • Architectural Style: TraditonalAmerican
  • Property Type: Residential Income
  • New Construction: No
  • Tax Year: 2019
  • Year Built: 1972
  • Lot Size Acres: 0.4
  • Road Surface Type: Asphalt
  • Structure Type: Apartment Building
  • Subdivision Name: NO SUBDIVISION
  • Inspection Warranties: Not Applicable
  • Property Description: What an Opportunity to own this updated 18 unit Apartment Building in Sought After Downtown Franklin! Located on Coveted Main St. Only 1/4 Mile From the Courthouse the Owners have created a truly unique experience for Tenants to enjoy all of the Activities downtown Franklin has to offer. Total Renovation of Main Street Commons completed in 2018 Inside & Out. Offered at Roughly 6.4% Cap Rate based on Trailing 12 Financials. Come see today these opportunities don't happen often.
  • Transaction Type: Sale
  • Website: https://my.matterport.com/show/?m=niDu1esXg1g
  • Unit Count: 4
  • Conversion: 0
  • Website: https://my.matterport.com/show/?m=2GbbyNQFEUz
  • Special Features: None

Interior Features

  • Basement: Yes
  • Levels: Three Or More
  • Owner Pays: Insurance,Lawncare,Taxes,Sewer,Trash Collection,Water,Other
  • Possible Use: Apt<20
  • Sq Ft Main Upper: 0
  • Total Sq Ft: 0
  • Gross Area Sq Ft: 14580
  • Laundry: Common,Connections All

Exterior Features

  • Construction Materials: Brick,Cedar
  • Disclosures: Not Applicable
  • Exterior Features: Driveway Asphalt
  • Foundation Details: Block
  • List Price: 1650000
  • Road Access: Frontage Road,CityStreet
  • Interstate: Ramp1-3mi

Garage/Parking

  • Unit Parking: Parking Lot,Paved Area,1 Car Space
  • Auto Parking: 18
  • Auto Surface: 18 + Street
  • Parking Spacesper Unit: 1.0000

Utilities

  • Solid Waste: 1
  • HVAC: Some Updated

Fee Information

  • Expenses: 54359
  • Insurance Expenses: 6883

Lot Info

  • Property Attached Yn: Yes
  • Parcel Number: 410814042067000009
  • Acres: 1/4-1/2 Acre
  • Lot Information: Irregular,Sidewalks,Storm Sewer,Street Lights,Not In Subdivision
  • Lot Number: 15
  • Lot Size: 17424

Green Features

  • Green Certification Y N: 0

Rental Info

  • Tenant Pays: Electricity,Gas,Insurance

Multi Family

  • Net Operating Income: 105458
  • Number Of Units Total: 18

Tax Info

  • Tax Annual Amount: 7794
  • Semi Annual Property Tax Amt: 3897
  • Tax Exemption: MortageTaxExemption

MLS Schools

  • School District: Franklin Community

Range of Values:

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List Price
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 Change Sq Ft Price
01/14/2021 01/14/21 Sold $1,650,000 0.0% $2,357 / Sq Ft
10/20/2020 10/20/20 Pending -- -- --
10/15/2020 10/15/20 For Sale $1,650,000 0.0% $2,357 / Sq Ft
10/02/2020 10/02/20 Pending -- -- --
09/30/2020 09/30/20 For Sale $1,650,000 -- $2,357 / Sq Ft
Source: MIBOR Broker Listing Cooperative®

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

  • Austin Smythe

    Seller's Agent in 2021

    Austin Smythe

    Smythe & Co, Inc

    (317) 412-3612

    73 in this area

    143 Total Sales

    Austin Smythe
    Section Image

  • B

    Buyer's Agent in 2021

    Bruce Richardson

    Bruce Richardson Realty, LLC

    Section Image
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Map

Source: MIBOR Broker Listing Cooperative®

MLS Number: MBR21739470

MIBOR Broker Listing Cooperative®
Indiana Johnson County Franklin 46131

401 N Main St, Franklin, IN

This home is located at 401 N Main St, Franklin, IN 46131 since 30 September 2020. This property was built in 1972. 401 N Main St is a home located in Johnson County with nearby schools including Northwood Elementary School, Franklin Community Middle School, and Custer Baker Intermediate School.

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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