Skip To Content

1957 E State Road 524

Wabash, IN 46992
  • $619,500
  • STATUS: Active
  • ON SITE: 12 Days
  • MLS #: 202547063
UPDATED: 67 min ago
$619,500
  • 3
    BEDS
  • 10
    ACRES
  • 3
    BATHS
  • 0
    1/2 BATHS
  • 3,136
    SQFT
Neighborhood:
Type:
Multi-Family
Built:
1942
County:
Area:

School Information

Elementary School:
Middle School:
High School:
School District:
Listing provided by Sarah Mast of Real Broker, LLC: .

Description

This fully updated 5-unit apartment strip sits on a sprawling 10-acre parcel and is 100% rented"offering instant income for savvy investors. The complex includes (2) one-bedroom units and (3) two-bedroom units, all modernized and well-maintained for long-term tenant retention. In addition to the apartments, the property features a spacious 3,136 sq ft home with 3-4 bedrooms, 3 full baths, and a 2-car attached garage with a full loft. With the right zoning approval, this home could easily be converted into a duplex, adding even more rental potential. But thats not all, this property also includes multiple concrete pads perfect for campers, park models, or small trailers, opening the door for expanded income streams such as short-term rentals or seasonal tenants. Whether you're looking to diversify your portfolio, generate passive income, or expand into multi-unit or vacation rental markets, this property offers incredible potential and flexibility.

Monthly Payment Calculator



© 2025 Indiana Regional MLS All rights reserved. The data relating to real estate for sale or lease on this web site comes in part from IRMLS. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but is not guaranteed accurate by the MLS or Keller Williams Realty. Data last updated: 2025-12-05T18:28:00.24.

www.felecialivingstonrealestate.com/homes/170844430
Print Image

1957 E State Road 524 Wabash, IN 46992

  • Price: $619,500
  • Status: Active
  • On Site: 12 Days
  • Updated: 67 min ago
  • MLS #: 202547063
3
Beds
3
Baths
0
½ Baths
10
Acres
3,136
SQFT
$198
$/SQFT
1942
Built
Neighborhood:
None
County:
Wabash
Area:
Wabash
Elementary School:
Metro North/Sharp Creek
Middle School:
Northfield
High School:
Northfield
School District:
Msd Of Wabash County Schools
Property Description
This fully updated 5-unit apartment strip sits on a sprawling 10-acre parcel and is 100% rented"offering instant income for savvy investors. The complex includes (2) one-bedroom units and (3) two-bedroom units, all modernized and well-maintained for long-term tenant retention. In addition to the apartments, the property features a spacious 3,136 sq ft home with 3-4 bedrooms, 3 full baths, and a 2-car attached garage with a full loft. With the right zoning approval, this home could easily be converted into a duplex, adding even more rental potential. But thats not all, this property also includes multiple concrete pads perfect for campers, park models, or small trailers, opening the door for expanded income streams such as short-term rentals or seasonal tenants. Whether you're looking to diversify your portfolio, generate passive income, or expand into multi-unit or vacation rental markets, this property offers incredible potential and flexibility.
Exterior Features

Driveway Asphalt Exterior MetalStoneVinyl Location Rural Lot Description IrregularPartially Wooded Lot Dimensions 10 acres Outbuilding None Parking Lot Parking Spaces 14 Pool YN No Roof Material MetalShingle Style Other Unit6 Garage Type Attached Waterfront YN No

Interior Features

Above Grade Bedrooms 3 Above Grade Finished Sqft 3136 Above Grade Unfin Sq Ft 0 Amenities Off Street ParkingStorage Basement Foundation CrawlPartial BasementUnfinished Basement Material Block Basement YN Yes Below Grade Baths 0 Below Grade Bedrooms 0 Below Grade Finished Sqft 0 Below Grade Unfin Sq Ft 1912 Cooling Central AirWindowMultiple Cooling Units Dishwashers 0 Disposals 0 Dryers 2 Flooring CarpetLaminateMixed Heating Fuel GasForced AirOther Heating SystemPropane Tank Owned Microwaves 5 Ranges Ovens 6 Refrigerators 5 Rooms Below Grade 0 Total Baths 3 Total Below Grade Sqft 1912 Total Sq Ft 5048 Unit1 Basement YN No Unit1 Bathrooms 1 Unit1 Bedrooms 1 Unit1 Sq Ft 481 Unit2 Basement YN No Unit2 Bathrooms 1 Unit2 Bedrooms 2 Unit2 Sq Ft 676 Unit3 Basement YN No Unit3 Bathrooms 1 Unit3 Bedrooms 2 Unit3 Sq Ft 674 Unit4 Basement YN No Unit4 Bedrooms 2 Unit4 Sq Ft 661 Unit5 Basement YN No Unit5 Bedrooms 1 Unit5 Sq Ft 443 Unit6 Basement YN Yes Unit6 Bathrooms 3 Unit6 Bedrooms 3 Unit6 Sq Ft 3136 Wash Dry Hookups 4 Washers 2

Property Features

Annual Electric Expense 6467.73 Annual Fuel Expense 1980.79 Annual Gross Rent 61800 Annual Insurance Expense 3200 Annual Maint Expense 8500 Annual Misc 745 Annual Net Income 35809.08 Annual Property Tax 3022.68 Annual Trash Expense 2074.72 Annual Water Sewer Exp 0 Assoc Dues Frequency Not Applicable Auction Y / N No Buildings 4 Common Amenities Laundry Facilities Documents Available Aerial PhotoFloor Plan Efficiencies 0 Electric Company REMC For Sale Or Rent For Sale Four Bedrooms 0 Government Subsidized YN No Gross Monthly Income 5150 Gross Monthly Rent 5150 Lease Term Month to MonthRenewal Options New Construction No One Bedrooms 2 Owner Pays Building InsuranceElectricLawn MaintenanceMaintenanceSewerSnow RemovalTaxTrash CollectionWater Softener Owner Real Estate License YN No Pet Restrictions YN No Planned Unit Dev YN No Property Sub Type Apartment Building Proposed Financing CashConventional Reo YN No Sale Includes BuildingLand Sewer PrivateSeptic Tenant Pays Deposit Value Three Bedrooms 1 Township Lagro Two Bedrooms 3 Unit1 Unit Rent 725 Unit1- Garage Y / N No Unit2 Unit Rent 800 Unit2- Currently Rntd Y / N Yes Unit2- Garage Y / N No Unit3 Unit Rent 800 Unit3- Currently Rntd Y / N Yes Unit3- Garage Y / N No Unit4 Unit Rent 800 Unit4- Currently Rntd Y / N Yes Unit5 Unit Rent 725 Unit5- Currently Rntd Y / N Yes Unit6 Unit Rent 1300 Unit6- Currently Rntd Y / N Yes Unit6- Garage Y / N Yes Units Rented 6 Water Meters 0 Water Utility PrivateWell Well Type Private Year Taxes Payable 2025

Listing provided by Sarah Mast of Real Broker, LLC: .

© 2025 Indiana Regional MLS All rights reserved. The data relating to real estate for sale or lease on this web site comes in part from IRMLS. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but is not guaranteed accurate by the MLS or Keller Williams Realty.


© 2025 Indiana Regional MLS All rights reserved. The data relating to real estate for sale or lease on this web site comes in part from IRMLS. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but is not guaranteed accurate by the MLS or Keller Williams Realty. Data last updated: 2025-12-05T18:28:00.24.

 
https://bt-photos.global.ssl.fastly.net/irmls/1280_boomver_1_202547063-2.jpg https://bt-photos.global.ssl.fastly.net/irmls/1280_boomver_1_202547063-2.jpg https://bt-photos.global.ssl.fastly.net/irmls/1280_boomver_1_202547063-2.jpg
Logo
Keller Williams Realty
Lafayette, West Lafayette
and Kokomo IN,
Listing provided by Sarah Mast of Real Broker, LLC: .