500 S 10th Street, Richmond, IN 47374

Comments for 500 S 10th Street, Richmond, IN 47374

Unlock immediate income potential with this versatile 4-unit investment opportunity on a prime corner lot near South E Street with off-street parking available. Whether you're expanding your portfolio or making your first move into multifamily investing, this property offers the perfect blend of cash flow, upside, and flexibility. Live smart and occupy one unit while the remaining units help cover your mortgage or maximize returns by leasing all four. The property currently features a leased 2-bedroom apartment generating $850 (with gas and electric in the tenant's name), plus two updated 1-bedroom units ready for new tenants. These rent-ready apartments showcase attractive finishes including lvp, tile throughout the kitchens and baths, along with newer stainless steel appliances designed to appeal to quality renters. The fourth unfinished unit presents a rare value-add opportunity with multiple strategies: complete it as an open-concept efficiency, create an additional 1-bedroom unit, or customize it to fit your investment goals and boost monthly cash flow. Additional highlights include three total water heaters, two of which are brand new, helping reduce upfront maintenance concerns. With shopping, dining, parks, and everyday amenities within walking or biking distance, this highly convenient location makes tenant demand easy to envision. Properties offering immediate income + future upside are hard to find. Close and start collecting rent from day one.