1011 Lake Avenue

Fort Wayne, IN 46805
Square Ft.
3,412
$320,000
Turnkey 4-Plex, fully occupied generating $3,497 monthly income, ideally located within walking distance of Lakeside Park. Exterior freshly painted in 2024. All units rehabbed prior to tenant move-in, featuring updated paint, carpet and appliances as needed. Two of four tenants have been in place since 2023 and the other twoRead MoreRead Less
Courtesy of Rachel Morgan-Hamilton, Beach Vibes Realty, 260-494-6154
Listing Snapshot
Days Online
188
Property Type
Quadruplex
Square Ft.
3,412
Lot Size
0.16 Acres
Year Built
1905
MLS Number
202540712
30 Days Snapshot Of 46805
$175k
+3%
(avg) sold price
13
-27%
homes sold
23
-53%
(avg) days on market
Snapshot
Area Map
Additional Details
Property Access
Road Access: City, Road Surface: Paved
Amenities
Off Street Parking, Porch Covered, Water Heater Gas
Appliances & Equipment
# of Dryers: 1, # of Ranges/Ovens: 4, # of Refrigerators: 4, # of W/D Hookups: 4, # of Washers: 1
Basement
Yes, Full Basement, Unfinished
Building
Above Grade Finished SqFt: 2,300, Age: 121, Below Grade Unfin. SqFt: 1,112, Main Level SqFt: 1,200, New Construction: No, Stories: 2, Style: Two Story, Total Below Grade SqFt: 1,112, Total Finished SqFt: 2,300, Total SqFt: 3,412, Upper Level SqFt: 1,100, Year Built: 1905
Expenses
Annual Electric Expense: $400, Annual Fuel Expense: $1,245, Annual Insurance Expense: $1,175, Annual Maint. Expense: $500, Annual Water/Sewer Exp.: $2,883
Exterior Features
Wood
Floors
Carpet, Laminate
Heating
Gas, Forced Air
Home Owner's Association
Dues Frequency: Not Applicable
Income
Annual Net Income: $31,406, Gross Monthly Income: $3,497
Lot
Approx. Acres: 0.16, Approx. SqFt: 6,750, Dimensions: 45X150, Level
Owner Pays
Fuel, Lawn Maintenance, Sewer, Water
Parking
Spaces: 4
Pets Policy
Restrictions Y/N: Yes
Property
Num. of Efficiencies: 1, Num. of 1 Bedrooms: 3, Number of Buildings: 1, Number of Units: 4
Sewer
City
Taxes
Annual Property Tax: $4,355
Tenant Pays
Electric
Unit One
Rent: $1,012, Rent Frequency: Monthly, # of Bathrooms: 1, # of Bedrooms: 1, # of Rooms: 2, Deposit Amt: $1,000, Electric: Tenant, Gas: Owner, Level: Main
Unit Two
Rent: $1,200, Rent Frequency: Monthly, # of Bathrooms: 1, # of Bedrooms: 2, # of Rooms: 3, Deposit Amt: $1,200, Electric: Tenant, Gas: Owner, Level: Upper
Unit Three
Rent: $775, Rent Frequency: Monthly, # of Bathrooms: 1, # of Rooms: 2, Deposit Amt: $775, Electric: Tenant, Gas: Owner, Level: Upper
Unit Four
Rent: $900, Rent Frequency: Monthly, # of Bedrooms: 1, # of Rooms: 2, Deposit Amt: $850, Electric: Tenant, Gas: Owner, Level: Main
Utilities
# Electric Meters: 4, # Gas Meters: 1, # Water Meters: 1, City
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