Turnkey investment opportunity with built-in cash flow! This 100% occupied fourplex delivers immediate income with reliable long-term tenants already in place who would like to stay, minimizing vacancy risk from day one. Unit A includes valuable basement access with newer mechanicals and offers additional storage and added tenant convenience. Unit B, located on the upper level, has been refreshed with newer flooring, windows, and paint. Unit C features an attached garage, a highly desirable amenity that increases rental value. Studio Apartment D has been recently painted and is currently leased, adding to the property’s stable income stream. A strong addition to any investment portfolio with immediate returns and excellent long-term potential.
Closed
$232,500
1433 W Franklin St, Elkhart, IN 46516
4beds
2,904sqft
Quadruplex
Built in 1910
-- sqft lot
$236,000 Zestimate®
$--/sqft
$1,263 Estimated rent
Home value
$236,000
$219,000 - $255,000
$1,263/mo
Zestimate® history
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List your homeWhat's special
Newer mechanicalsAttached garageBasement accessAdditional storageNewer flooring
Zillow last checked:
Listing updated:
Listed by:
Heidi Gaskill Office:574-293-1010,
Berkshire Hathaway HomeServices Elkhart
Bought with:
Ed Viruez, RB14038928
RE/MAX Results The Viruez Team
Source: IRMLS,MLS#: 202606198
Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 4
- Bathrooms: 5
- Full bathrooms: 4
- 1/2 bathrooms: 1
Heating
- Natural Gas, Forced Air
Cooling
- None
Features
- Flooring: Vinyl
- Basement: Unfinished
Interior area
- Total structure area: 3,872
- Total interior livable area: 2,904 sqft
- Finished area above ground: 2,904
- Finished area below ground: 0
Property
Parking
- Total spaces: 8
- Parking features: Attached, Off Street
- Attached garage spaces: 1
Features
- Levels: One and One Half
- Stories: 15
Lot
- Size: 7,840 Square Feet
- Dimensions: 58 x 132
- Features: Level
Details
- Additional structures: None
- Parcel number: 200607276007.000012
Construction
Type & style
- Home type: MultiFamily
- Property subtype: Quadruplex
Materials
- Vinyl Siding
Condition
- New construction: No
- Year built: 1910
Utilities & green energy
- Sewer: City
- Water: City
Community & HOA
Community
- Security: Carbon Monoxide Detector(s), Smoke Detector(s)
- Subdivision: None
Location
- Region: Elkhart
Financial & listing details
- Tax assessed value: $165,400
- Annual tax amount: $2,717
- Date on market: 2/27/2026
- Listing terms: Cash,Conventional
- Inclusions: Building
- Lease term: Month To Month
- Total actual rent: 47340
- Tenant pays: None
Price history
| Date | Event | Price |
|---|---|---|
| 4/13/2026 | Sold | $232,500-7% |
Source:  IRMLS #202606198 Report a problem | ||
| 4/1/2026 | Pending sale | $250,000 |
Source: IRMLS #202606198 Report a problem | ||
| 2/27/2026 | Price change | $250,000+155.1% |
Source: IRMLS #202606198 Report a problem | ||
| 9/28/2021 | Pending sale | $98,000 |
Source: IRMLS #202140230 Report a problem | ||
| 9/24/2021 | Listed for sale | $98,000 |
Source: IRMLS #202140230 Report a problem | ||
Public tax history
| Year | Property taxes | Tax assessment |
|---|---|---|
| 2025 | $2,703 +5.8% | $165,400 +23.8% |
| 2024 | $2,555 +28.7% | $133,600 +5.9% |
| 2023 | $1,985 +80.6% | $126,200 +28.9% |
| 2022 | $1,099 -6.1% | $97,900 +80.6% |
| 2021 | $1,170 +47.1% | $54,200 |
| 2020 | $796 +12.7% | $54,200 +46.5% |
| 2019 | $706 -2.3% | $37,000 +13.5% |
| 2018 | $723 +2.7% | $32,600 |
| 2017 | $704 | $32,600 -48.8% |
| 2016 | $704 -48.2% | $63,700 |
| 2014 | $1,358 -16.2% | $63,700 -21.4% |
| 2013 | $1,620 0% | $81,000 |
| 2012 | $1,620 | $81,000 |
| 2011 | $1,620 +62.3% | $81,000 -18.8% |
| 2010 | $998 +0% | $99,800 |
| 2009 | $998 -19% | $99,800 +1.8% |
| 2007 | $1,232 -3.1% | $98,000 -1.7% |
| 2006 | $1,272 -2.3% | $99,700 |
| 2005 | $1,302 +0.5% | $99,700 |
| 2004 | $1,296 +9.4% | $99,700 |
| 2003 | $1,184 +127.2% | $99,700 +298.8% |
| 2002 | $521 +2.6% | $25,000 +199.8% |
| 2001 | $508 | $8,340 |
Find assessor info on the county website
Neighborhood: Downtown
Nearby homes
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Nearby schools
GreatSchools rating
- 3/10Daly Elementary SchoolGrades: PK-6Distance: 0.9 mi
- 5/10West Side Middle SchoolGrades: 7-8Distance: 1.1 mi
- 2/10Elkhart High SchoolGrades: 9-12Distance: 1.9 mi
Schools provided by the listing agent
- Elementary: Mary Daly
- Middle: West Side
- High: Elkhart
- District: Elkhart Community Schools
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
- Elkhart County
- Elkhart
- 46516
- Downtown
- 1433 W Franklin St
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