NOT LISTED FOR SALE

501 S 16th St Lafayette, IN 47905

Valley Center Neighborhood
6 Beds
6 Baths
4,050 Sq Ft
8,843 Sq Ft Lot

Last Sold September 28, 2023

Last sale price $190,000 $47 Per Sq Ft

15 Days on Market

Highlights

  • Wood Flooring
  • Ceiling Fan
  • Laundry Facilities
  • Porch
  • Baseboard Heating

About This Home

As of September 2023

Welcome to this prime location apartment building gem! A 6-unit apartment building, perfectly situated close to downtown Lafayette and Purdue, offering convenience and allure to tenants. Each unit boasts 1 bed, 1 bath each separately metered, ensuring minimal hassle for you as an owner. Currently generating $1550 per month, with three units vacant and ready for your personal touch. While the building needs some work, this presents an excellent chance to renovate and increase its value. Capitalize on the high demand for urban living and the potential to maximize income. Act fast - schedule a viewing today!

Last Agent to Sell the Property

Calvin Dykhuizen

Trueblood Real Estate Brokerage Phone: 765-426-3928 Listed on: 07/25/2023

Trueblood Real Estate

Last Buyer's Agent

Jenny Sarti

Raeco Realty

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $3,496

Year Built

  • Built in 1900

Lot Details

  • 8,843 Sq Ft Lot
  • Lot Dimensions are 68x130

Home Design

  • Brick Foundation

Interior Spaces

  • 2-Story Property
  • Ceiling Fan
  • Unfinished Basement
  • Basement Fills Entire Space Under The House

Flooring

  • Wood
  • Carpet

Bedrooms and Bathrooms

  • 6 Bedrooms
  • 6 Full Bathrooms

Parking

  • 5 Parking Spaces
  • On-Street Parking

Schools

  • Oakland Elementary School
  • Sunnyside/Tecumseh Middle School
  • Jefferson High School

Utilities

  • Window Unit Cooling System
  • Baseboard Heating

Additional Features

  • Porch
  • Suburban Location

Listing and Financial Details

  • Tenant pays for electric
  • The owner pays for lawn maintenance, sewer, trash collection, water
  • Assessor Parcel Number 79-07-28-183-004.000-004

Community Details

Building Details

  • 6 Separate Electric Meters
  • 4 Separate Gas Meters
  • 1 Separate Water Meter
  • Insurance Expense $1,000
  • Maintenance Expense $1,000
  • Water Sewer Expense $1,000

Additional Features

  • 6 Units
  • Laundry Facilities

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$3,496

Year Built

Built in 1900

Lot Details

0

Listing Details

  • Class: INVESTMENT
  • Property Sub Type: Sixplex
  • Year Built: 1900
  • Style: Two Story
  • Bedrooms: 6
  • Total Bathrooms: 6
  • Total Full Bathrooms: 6
  • Legal Description: W K ROCHESTERS S E LOT 22
  • Parcel Number ID: 79-07-28-183-004.000-004
  • Platted: Yes
  • Amenities: Basement, Ceiling Fan, Porch Open
  • Location: City/Town/Suburb
  • Special Features: None

Interior Features

  • Total Sq Ft: 5490
  • Total Finished Sq Ft: 4050
  • Above Grade Finished Sq Ft: 4050
  • Below Grade Sq Ft: 1440
  • Basement: Yes
  • Basement Foundation: Full Basement, Unfinished
  • Basement Material: Brick
  • Flooring: Carpet, Wood
  • Total Below Grade Sq Ft: 1440
  • Number Of Ranges Ovens: 6

Exterior Features

  • Exterior: Aluminum
  • Stories: 2

Garage/Parking

  • Number Of Parking Spaces: 5
  • Parking: Street

Utilities

  • Cooling: Window
  • Heating Fuel: Electricity, Baseboard
  • Sewer: City
  • Water Utilities: City
  • Annual Insurance Expense: 1000
  • Annual Maintenance Expense: 1000
  • Annual Water Sewer Expense: 1000
  • Number Electric Meters: 6
  • Number Gas Meters: 4
  • Number Of W D Hookups: 1
  • Number Water Meters: 1

Condo/Co-op/Association

  • Common Amenities: Laundry Facilities

Schools

  • Elementary School: Oakland Elementary

Lot Info

  • Lot Description: 0-2.9999
  • Lot Dimensions: 68x130
  • Estimated Lot Sq Ft: 8843
  • Estimated Lot Size Acres: 0.203

Rental Info

  • Lease Term: Month to Month
  • Owner Pays: Lawn Maintenance, Sewer, Trash Collection, Water
  • Tenant Pays: Electric

Tax Info

  • Annual Property Tax: 3496

Multi Family

  • Number Of Dryers: 1
  • Number Of Refrigerators: 6
  • Number Of Units: 6
  • Number Of Washers: 1
  • Num Of1 Bedrooms: 6

MLS Schools

  • High School: Jefferson
  • Middle School: Sunnyside/Tecumseh
  • School District: Lafayette

Range of Values:

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Value Increase
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Percent Increase
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Adjusted for Inflation
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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 List to Sale Price per Sq Ft
09/28/2023 09/28/23 Sold $190,000 -34.5% $47 / Sq Ft
08/09/2023 08/09/23 Pending -- -- --
07/25/2023 07/25/23 For Sale $289,900 -- $72 / Sq Ft
Source: Indiana Regional MLS

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

  • Calvin Dykhuizen

    Seller's Agent in 2023

    Calvin Dykhuizen

    Trueblood Real Estate

    (765) 426-3928

    10 in this area

    160 Total Sales

    Calvin Dykhuizen
    Section Image
  • Jenny Sarti

    Buyer's Agent in 2023

    Jenny Sarti

    Raeco Realty

    (765) 418-6009

    2 in this area

    65 Total Sales

    Jenny Sarti
    Section Image
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Map

Source: Indiana Regional MLS

MLS Number: 202326123

Indiana Regional MLS
Indiana Tippecanoe County Lafayette 47905 Valley Center

501 S 16th St, Lafayette, IN

Not Listed for Sale

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 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.

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