408 N Jefferson St, Converse, IN 46919

Property Description

14-Unit Apartment Complex | Prime Main Road Location | Value-Add Opportunity Prime investment opportunity in the heart of Converse! This well-maintained 14-unit apartment complex, situated directly on Jefferson Street, offers a stable, income-producing asset with immediate potential for forced appreciation. The property consists of three separate buildings (two triplexes and one 8-plex), providing a flexible and manageable layout. This complex is a true "Value-Add" play. Unit #1 is currently undergoing renovations; the majority of building materials have already been purchased and will convey with the sale, allowing the new owner to finish the project and realize immediate rental income upside. With 10 of the 14 units on the ground level, this property is highly desirable for tenants and maintains consistent demand. Key Property Highlights: • Unit Mix: (4) 2-Bedroom/1-Bath units; (10) 1-Bedroom/1-Bath units. • Property Composition: Three buildings (two triplexes, one 8-plex). 8-plex features a 2-story design with on-site laundry facilities for added monthly revenue. • On-site laundry room featuring commercial-grade machines. The equipment is provided and maintained by a third-party vendor—offering you steady, passive laundry income without the hassle of equipment repairs or maintenance. • Accessibility: Highly accessible design with 10 units featuring ground-level entry. • Prime Accessibility: Located directly on Jefferson St (Main Rd) in Converse. • Immediate Amenities: Situated adjacent to Dollar General for maximum tenant convenience. • Districts: Served by the well-regarded Oak Hill United School Corporation. • Maintenance: Significant capital expenditure already addressed with roofs replaced just 5 years ago. • Upside Potential: Unit #1 near completion—all materials on-site will be transferred to the buyer at closing. Don't miss this opportunity to acquire a turnkey portfolio with built-in equity potential. Current rent roll and operating expense summary are available upon request for qualified buyers. Showings by appointment only.