NOT LISTED FOR SALE

7944 E 49th St Indianapolis, IN 46226

-- Bed
-- Bath
-- Sq Ft
0.55 Acres

Last Sold May 01, 2019

Last sale price $423,000

287 Days on Market

About This Home

As of May 2019

BRICK 2-STORY BUILDING WITH A BASEMENT AND ASPHALT PARKING FOR APPROX 30 VEHICLES. THERE ARE 11 2-BEDROOM/1BATHROOM UNITS ON THE FIRST AND SECOND FLOORS PLUS 1 EFFICIENCY UNIT IN THE BASEMENT. AT THIS TIME THE PROPERTY IS FULLY OCCUPIED EXCEPT FOR THE EFFICIENCY (CURRENTLY USED FOR STORAGE). EACH UNIT IS SEPARATELY METERED FOR GAS AND ELECTRICITY. THIS IS AN EXCELLENT INVESTMENT OPPORTUNITY WITH A GOOD ECONOMIC RETURN.

AS AN OWNER MANAGED PROPERTY, THIS RETURNS A POTENTIAL NET INCOME OF NEARLY $5,000 PER MONTH (NOT INCLUDING THE VACANT EFFICIENCY APARTMENT).

Last Agent to Sell the Property

Rick Hurwitz

Hurwitz Company License #CG49300036 Listed on: 02/27/2018

Co-Listed By

Walter Lee

GWS Lee Realty License #RB14014610

Last Buyer's Agent

Rick Hurwitz

Hurwitz Company License #CG49300036 Listed on: 02/27/2018

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $3,364

Year Built

  • Built in 1964

Lot Details

  • 0.55

Parking

  • Driveway

Home Design

  • Traditional Architecture
  • Brick Exterior Construction
  • Block Foundation

Additional Features

  • 2-Story Property
  • 0.55 Acre Lot
  • Basement

Community Details

  • North Lawrence Park Subdivision

Listing and Financial Details

  • Tenant pays for cable TV, carpet cleaning, electricity, gas, insurance
  • The owner pays for electricity, inshazard, insurance, lawncare, taxes, sewer, trash collection, water
  • Assessor Parcel Number 49-07-12-127-002.000-407

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$3,364

Year Built

Built in 1964

Lot Details

0

Listing Details

  • Property Sub Type: 5+Units Commercial
  • Architectural Style: TraditonalAmerican
  • Builder Name: Lawrence North Park
  • Property Type: Residential Income
  • New Construction: No
  • Tax Year: 2017
  • Year Built: 1964
  • Co List Office Phone: 317-841-8191
  • Lot Size Acres: 0.55
  • Road Frontage Type: City Street
  • Road Surface Type: Asphalt
  • Structure Type: Apartment Building
  • Subdivision Name: NORTH LAWRENCE PARK
  • Inspection Warranties: Not Applicable
  • Property Description: BRICK 2-STORY BUILDING WITH A BASEMENT AND ASPHALT PARKING FOR APPROX 30 VEHICLES. THERE ARE 11 2-BEDROOM/1BATHROOM UNITS ON THE FIRST AND SECOND FLOORS PLUS 1 EFFICIENCY UNIT IN THE BASEMENT. AT THIS TIME THE PROPERTY IS FULLY OCCUPIED EXCEPT FOR THE EFFICIENCY (CURRENTLY USED FOR STORAGE). EACH UNIT IS SEPARATELY METERED FOR GAS AND ELECTRICITY. THIS IS AN EXCELLENT INVESTMENT OPPORTUNITY WITH A GOOD ECONOMIC RETURN. AS AN OWNER MANAGED PROPERTY, THIS RETURNS A POTENTIAL NET INCOME OF NEARLY $5,000 PER MONTH (NOT INCLUDING THE VACANT EFFICIENCY APARTMENT).
  • Transaction Type: Sale
  • Unit Count: 2
  • Conversion: 0
  • F H A Certified: 0
  • Special Features: None

Interior Features

  • Basement: Yes
  • Levels: Two
  • Owner Pays: Electricity, 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: 11124
  • Laundry: Common

Exterior Features

  • Construction Materials: Brick
  • Disclosures: Not Applicable
  • Exterior Features: Driveway Asphalt
  • Foundation Details: Block
  • List Price: 519000
  • Construction Stage: Completed
  • Road Access: CityStreet
  • Interstate: Ramp1-3mi

Garage/Parking

  • Unit Parking: Parking Lot,Paved Area
  • Auto Parking: 30
  • Auto Surface: Asphalt
  • Parking Spacesper Unit: 2.0000

Utilities

  • Solid Waste: 1

Fee Information

  • Expenses: 29844
  • Insurance Expenses: 650
  • Insurance Expenses S F: 17.1100

Lot Info

  • Property Attached Yn: No
  • Current Use: Apt<20
  • Parcel Number: 49-07-12-127-002.000-407
  • Zoning: D-3
  • Acres: 1/2-1 Acre
  • Lot Information: Busline,Corner,Storm Sewer,Street Lights,Zoned
  • Lot Number: PT79 &80
  • Lot Size: 23827

Green Features

  • Green Certification Y N: 0

Rental Info

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

Multi Family

  • Net Operating Income: 49836
  • Number Of Units Total: 12

Tax Info

  • Tax Annual Amount: 3364
  • Semi Annual Property Tax Amt: 1682
  • Tax Exemption: None

MLS Schools

  • School District: Lawrence Township

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
05/01/2019 05/01/19 Sold $423,000 -18.5% --
12/12/2018 12/12/18 Pending -- -- --
12/05/2018 12/05/18 Price Changed $519,000 -0.2% --
12/05/2018 12/05/18 Price Changed $520,000 -9.6% --
07/27/2018 07/27/18 For Sale $575,000 0.0% --
04/13/2018 04/13/18 Pending -- -- --
02/27/2018 02/27/18 For Sale $575,000 -- --
Source: MIBOR Broker Listing Cooperative®

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

  • R

    Seller's Agent in 2019

    Rick Hurwitz

    Hurwitz Company

    (317) 607-6535

    5 Total Sales

    Rick Hurwitz
    Section Image

  • W

    Seller Co-Listing Agent in 2019

    Walter Lee

    GWS Lee Realty

    (317) 413-4135

    1 Total Sale

    Walter Lee
    Section Image
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Map

Source: MIBOR Broker Listing Cooperative®

MLS Number: MBR21548451

MIBOR Broker Listing Cooperative®
Indiana Marion County Indianapolis 46226

7944 E 49th St, Indianapolis, IN

This home is located at 7944 E 49th St, Indianapolis, IN 46226 since 27 February 2018. This property was built in 1964. 7944 E 49th St is a home located in Marion County with nearby schools including Brook Park Elementary School, Belzer Middle School, and Lawrence Central High 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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