4055 Main StAvon, IN 46123

This exceptional investment opportunity presents a fully occupied, eight-unit apartment building complex situated on a substantial 5.36-acre lot in Avon, Indiana. The property, zoned for residential use, comprises two existing one-story buildings, each housing four two-bedroom, one-bathroom units. Currently generating approximately $800 per month in rent per unit, the property offers immediate income potential. All units feature separately metered gas and electric, with water paid by the owner. The Avon school district serves this location. A significant advantage lies in the substantial undeveloped land, presenting considerable redevelopment potential. Conceptual plans exist for adding three more buildings and 18 additional units, with projected post-redevelopment rents of $1500 per month per unit. The asking price is $1,675,000, translating to $209,375 per unit and $314,258 per acre. This rare opportunity combines immediate income with substantial long-term growth potential in a desirable Hendricks County location. The sale includes two parcels encompassing the existing buildings and the expansive land. This is a prime opportunity for an investor seeking a blend of immediate return and significant future development upside.