This property has been in the same family since built in 1951. Originally it was Norris Plumbing with an apartment upstairs. Approximately 10 or 11 years ago the building was completely gutted inside and out and made into three 2 BR units. Remodeling includes new concrete slab floors, new walls, approx. 1' wide and insulated between each unit. The plumbing, HVAC, electrical were all replaced by licensed contractors and had the proper building permits. The exterior vinyl shake shingle and vinyl siding plus was also also replaced. Sellers are not sure how old the roof is. Each unit has its own wood deck with a water hydrant overlooking the nice well maintained back yard. Each unit also has 2 parking spaces and separate utility electric, gas, water meters along with having cable hook ups in the LRs and each BR. Unit 1 has approximately 580 Sq. Ft. with a LR, Kitchen including Range & Refrigerator, laundry area including the W& D plus the 2nd level has 2 Br's and a 4 piece bath with ceramic floors. Units 2 & 3 have approximately 1050 Sq. Ft. are laid out the same, each with a LR, kitchen with Range & Refrigerator plus a laundry area with a Washer and Dryer, however the tenant in Unit 2 owns her own W & D and 2 FPs. The first level of units 2 & 3 also each have a 1/2 bath with ceramic floors. The 2nd level each have 2 Br's and a 4pc bath with ceramic floors. The owners have chosen NOT to rent Units 1 & 3 for the past few years, however Unit #2 is rented for $650.00 and the rent is month to month. In my professional opinion the total rental income could be $1,650.00 to $1,800.00 per month PLUS utilities. These units are located in the small town of Selma, IN and are 1/2 block from Selma Elementary and close to the Post Office, church, etc. Utilities are all electric except the GFA furnaces. The owners also chose to pay all utilities even though there are separate utility meters for each unit. The utility meters are located on the East side of the Building.
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