1027 Lake Avenue

Fort Wayne, IN 46805
Square Ft.
3,574
$330,000
Turnkey 4-Plex, fully occupied, generating $3,651 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. Three of four tenants have been in place since 2023, ensuring stable income. ThisRead MoreRead Less
Courtesy of Rachel Morgan-Hamilton, Beach Vibes Realty, 260-494-6154
Listing Snapshot
Days Online
185
Property Type
Quadruplex
Square Ft.
3,574
Lot Size
0.16 Acres
Year Built
1900
MLS Number
202540713
30 Days Snapshot Of 46805
$175k
+2%
(avg) sold price
13
-31%
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 Open, Water Heater Gas
Appliances & Equipment
# of Dryers: 1, # of Ranges/Ovens: 4, # of Refrigerators: 4, # of W/D Hookups: 1, # of Washers: 1
Basement
Yes, Full Basement, Unfinished
Building
Above Grade Finished SqFt: 2,448, Age: 125, Below Grade Unfin. SqFt: 1,126, Main Level SqFt: 1,224, New Construction: No, Stories: 2.5, Style: Two Story, Total Below Grade SqFt: 1,126, Total Finished SqFt: 2,448, Total SqFt: 3,574, Upper Level SqFt: 1,224, Year Built: 1900
Expenses
Annual Electric Expense: $3,219, Annual Fuel Expense: $1,325, Annual Insurance Expense: $1,576, Annual Maint. Expense: $500, Annual Water/Sewer Exp.: $2,200
Exterior Features
Aluminum, Shingle, Vinyl
Floors
Carpet, Laminate
Heating
Hot Water
Home Owner's Association
Dues Frequency: Not Applicable
Income
Annual Net Income: $30,637, Gross Monthly Income: $3,651
Lot
Approx. Acres: 0.16, Approx. SqFt: 6,750, Dimensions: 45X150, Level
Owner Pays
Electric, Fuel, Lawn Maintenance, Sewer, Water
Parking
Spaces: 4, Gravel, Off Street
Pets Policy
Restrictions Y/N: Yes
Property
Num. of 1 Bedrooms: 4, Number of Units: 4
Sewer
City
Taxes
Annual Property Tax: $4,355
Unit One
Rent: $925, Rent Frequency: Monthly, # of Bathrooms: 1, # of Bedrooms: 1, # of Rooms: 2, Deposit Amt: $900, Electric: Owner, Gas: Owner, Level: Main
Unit Two
Rent: $891, Rent Frequency: Monthly, # of Bathrooms: 1, # of Bedrooms: 1, # of Rooms: 2, Deposit Amt: $875, Electric: Owner, Gas: Owner, Level: Main
Unit Three
Rent: $891, Rent Frequency: Monthly, # of Bathrooms: 1, # of Bedrooms: 1, # of Rooms: 2, Deposit Amt: $875, Electric: Owner, Gas: Owner, Level: Upper
Unit Four
Rent: $944, Rent Frequency: Monthly, # of Bedrooms: 1, # of Rooms: 2, Deposit Amt: $944, Electric: Owner, Gas: Owner, Level: Upper
Utilities
# Electric Meters: 1, # Gas Meters: 1, # Water Meters: 1, City
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