Closed

$191,000

616 Mechanic St, Fort Wayne, IN 46808

5beds

2,062sqft

Quadruplex

Built in 1920

-- sqft lot

$203,900 Zestimate^®

$--/sqft

$1,508 Estimated rent

Home value

$203,900

$175,000 - $232,000

$1,508/mo

Zestimate^® history

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$1,508/mo

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$1,508/mo

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$1,200/mo

Est. payment

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$1,200/mo

Est. payment

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What's special

This turnkey fourplex offers a secure and stable investment opportunity for both seasoned and first-time investors. With 100% occupancy, you'll start generating rental income immediately. The property features a recent roof replacement and painted exterior minimizing maintenance needs. The units offer three spacious 1 bedroom, 1 bathroom units, and one larger 2 bedroom, 1 bathroom unit. While the property has just one meter for each utility, tenants are charged a monthly utility fee to cover these costs, ensuring a steady stream of income for the owner. Located in the heart of the vibrant downtown Main Street Corridor, the property boasts unbeatable access to shops, restaurants, and nightlife, making it highly attractive to tenants. Inquire today to learn more about this exceptional income property!

Facts & features

Interior

Bedrooms & bathrooms

Bedrooms: 5
Bathrooms: 4
Full bathrooms: 4

Heating

Natural Gas, Forced Air

Cooling

None

Features

Laminate Counters
Flooring: Carpet, Laminate
Basement: Partial

Interior area

Total structure area: 2,587
Total interior livable area: 2,062 sqft
Finished area above ground: 2,062
Finished area below ground: 0

Property

Parking

Parking features: None

Features

Levels: Two
Stories: 2
Fencing: None

Lot

Size: 2,613 sqft
Dimensions: 50X50
Features: Level, City/Town/Suburb

Details

Additional structures: None
Parcel number: 021203409012.000074

Construction

Type & style

Home type: MultiFamily
Property subtype: Quadruplex

Materials

Asbestos
Foundation: Basement
Roof: Asphalt

Condition

New construction: No
Year built: 1920

Utilities & green energy

Electric: AEP/I&M
Gas: NIPSCO
Sewer: City
Water: City, Fort Wayne City Utilities

Community & neighborhood

Location

Region: Fort Wayne
Subdivision: Herbert E Eckarts

HOA & financial

Other financial information

Total actual rent: 28200

Other

Other facts

Listing terms: Cash,Conventional,FHA,VA Loan

Price history

Date	Event	Price
8/13/2024	Sold	$191,000-2%
Source: IRMLS #202425826 Report a problem
8/9/2024	Pending sale	$194,900
Source: IRMLS #202425826 Report a problem
7/13/2024	Listed for sale	$194,900-2.5%
Source: IRMLS #202425826 Report a problem
6/1/2024	Listing removed	$199,999
Source: IRMLS #202404040 Report a problem
4/22/2024	Listed for sale	$199,999
Source: IRMLS #202404040 Report a problem