Turnkey 4-Plex in the heart of the desirable 46805 district, fully occupied and generating $3,719/month in gross income with a NET annual income of $28,025. Ideally located within walking distance of Lakeside Park, this well-priced downtown investment opportunity features a freshly painted exterior (2024) and rehabbed units with updated paint, carpet, and appliances as needed prior to tenant move-in. A well-maintained, income-producing property offering immediate cash flow and long-term potential.
Pending
$289,000
1027 Lake Ave, Fort Wayne, IN 46805
4beds
2,448sqft
Quadruplex
Built in 1900
-- sqft lot
$282,500 Zestimate®
$--/sqft
$-- HOA
What's special
Updated paintRehabbed units
- 61 days |
- 103 |
- 3 |
Zillow last checked:
Listing updated:
Listed by:
Richard Rutledge Cell:260-267-8220,
Trueblood Real Estate, LLC.
Source: IRMLS,MLS#: 202617710
Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 4
- Bathrooms: 4
- Full bathrooms: 4
Heating
- Hot Water
Cooling
- Window Unit(s)
Features
- Flooring: Carpet, Vinyl
- Basement: Full,Unfinished
Interior area
- Total structure area: 3,574
- Total interior livable area: 2,448 sqft
- Finished area above ground: 2,448
- Finished area below ground: 0
Video & virtual tour
Property
Parking
- Total spaces: 6
- Parking features: Off Street, On Street
- Has uncovered spaces: Yes
Features
- Levels: Two
- Stories: 2
Lot
- Size: 6,969 Square Feet
- Dimensions: 45X150
- Features: Level, City/Town/Suburb
Details
- Additional structures: None
- Parcel number: 021201135020.000074
Construction
Type & style
- Home type: MultiFamily
- Property subtype: Quadruplex
Materials
- Wood Siding
- Foundation: Basement
- Roof: Asphalt
Condition
- New construction: No
- Year built: 1900
Utilities & green energy
- Electric: Indiana Michigan Power
- Gas: NIPSCO
- Sewer: City
- Water: City, Fort Wayne City Utilities
Community & HOA
Community
- Subdivision: Lakeside Park
Location
- Region: Fort Wayne
Financial & listing details
- Tax assessed value: $272,200
- Annual tax amount: $6,125
- Date on market: 5/12/2026
- Listing terms: Cash,Conventional
- Inclusions: Building, Land, Lease
- Lease term: Month To Month
- Total actual rent: 44628
- Tenant pays: None
Estimated market value
$282,500
$268,000 - $297,000
$1,150/mo
Price history
| Date | Event | Price |
|---|---|---|
| 6/14/2026 | Pending sale | $289,000 |
Source:  IRMLS #202617710 Report a problem | ||
| 5/12/2026 | Listed for sale | $289,000-12.4% |
Source: IRMLS #202617710 Report a problem | ||
| 4/27/2026 | Listing removed | $330,000 |
Source: IRMLS #202540713 Report a problem | ||
| 10/8/2025 | Listed for sale | $330,000+79.3% |
Source: IRMLS #202540713 Report a problem | ||
| 7/14/2023 | Sold | $184,000-8% |
Source: IRMLS #202312558 Report a problem | ||
| 6/9/2023 | Pending sale | $199,900 |
Source: IRMLS #202312558 Report a problem | ||
| 5/26/2023 | Price change | $199,900-2.4% |
Source: IRMLS #202312558 Report a problem | ||
| 5/8/2023 | Price change | $204,900-2.4% |
Source: IRMLS #202312558 Report a problem | ||
| 4/27/2023 | Pending sale | $209,900 |
Source: IRMLS #202312558 Report a problem | ||
| 4/24/2023 | Listed for sale | $209,900 |
Source: IRMLS #202312558 Report a problem | ||
Public tax history
| Year | Property taxes | Tax assessment |
|---|---|---|
| 2025 | $4,355 +20.6% | $272,200 +42.9% |
| 2024 | $3,610 +29.6% | $190,500 +20.6% |
| 2023 | $2,785 +1.8% | $157,900 +27.4% |
| 2022 | $2,735 +46.7% | $123,900 +1.5% |
| 2021 | $1,864 +61.5% | $122,100 +43.3% |
| 2020 | $1,154 -0.7% | $85,200 +60.8% |
| 2019 | $1,162 -0.9% | $53,000 |
| 2018 | $1,172 +1.5% | $53,000 |
| 2017 | $1,155 +5.5% | $53,000 |
| 2016 | $1,095 +0.7% | $53,000 +1.3% |
| 2014 | $1,087 +0.1% | $52,300 |
| 2013 | $1,086 +3.8% | $52,300 |
| 2011 | $1,046 | $52,300 |
| 2010 | -- | $52,300 -32.4% |
| 2007 | -- | $77,400 +166.9% |
| 2001 | -- | $29,000 |
Find assessor info on the county website
Monthly payment
Est. payment$--/mo
Payment breakdown
Explore the cost of this home by adjusting the details. Changes won't be saved.All calculations are estimates and provided by Zillow, Inc. for informational purposes only. Actual amounts may vary.
HOA fees may include property taxes on listings classified as Co-Ops. Contact the listing agent and/or owner for fee details.
Mortgage interest rates are dependent on a number of factors, including credit score, down payment, and repayment length. Interest rate data provided by Zillow Group Marketplace, Inc. as of 1/1/1970 from various mortgage lenders with which we have lead or other similar arrangements; the Estimated Payment is an average of those rates.
See how much you could borrow to make a competitive offer.
Climate risks
Neighborhood: Northside
Nearby schools
GreatSchools rating
- 4/10Forest Park Elementary SchoolGrades: PK-5Distance: 0.7 mi
- 5/10Lakeside Middle SchoolGrades: 6-8Distance: 0.8 mi
- 2/10North Side High SchoolGrades: 9-12Distance: 0.9 mi
Schools provided by the listing agent
- Elementary: Forest Park
- Middle: Lakeside
- High: North Side
- District: Fort Wayne Community
Source: IRMLS. This data may not be complete. We recommend contacting the local school district to confirm school assignments for this home.
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- Indiana
- Allen County
- Fort Wayne
- 46805
- Northside
- 1027 Lake Ave
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