1309 Franklin Street, Columbus, IN 47201

Property Description

Opportunities like this are becoming hard to find in downtown Columbus! Situated on desirable Franklin Street, this well maintained triplex offers a combination of established rental income, recent improvements, low maintenance ownership, and future upside. Situated on a large lot with plenty of room for potential expansion, this property is an outstanding opportunity for investors looking to grow their portfolio in a thriving downtown market. The property features three separate apartments, each with its own private entrance. A spacious one bedroom, a generously sized two bedroom, and a fully functional studio apartment. Both the one and two bedroom units offer over 900 square feet of living space, while the studio provides approximately 480 square feet. Each apartment also has its own private washer and dryer. The property has been consistently cared for, with numerous improvements completed over the years. Major updates include a roof installed in 2021, two of the three HVAC systems updated, refreshed exterior paint, vinyl siding, and metal wrapped windows for added durability and reduced exterior maintenance. Each individual apartment has also received various updates within the past six years, including improvements to paint, flooring, fixtures, and more. From an investment standpoint, the property offers an attractive combination of existing income and flexibility. Two of the three rental agreements are secured with established lease contracts, while the third unit is currently occupied on a month to month basis, providing the new owner flexibility to adjust rental rates and establish their preferred terms. Small multifamily properties that are in good condition in Columbus that offer the potential to qualify for traditional 30 year fixed rate financing are becoming increasingly difficult to find. Don't miss your opportunity to own an income producing triplex on one of downtown Columbus's most desirable streets!