118 Ferry Street, Madison, IN 47250

$479,900
3
BD
3
BA
1,494
SqFt

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List Price
$479,900
Status
ACTIVE
Days on Market
29
MLS#
202609731
Subtype
Residential
Style
Two Story
Architectural Style
Two Story
Year Built
1900
Bedrooms
3
Bathrooms
3
Full Baths
3
Living Area
1,494
Lot Size
3,049
Acres
0.07
MLS Area Major
Downtown

Property Description

Located just one block from the Ohio Riverfront, this turnkey triplex investment property offers three updated rental units and multiple income streams through existing tenants and a proven AirBnB operation. Unit 1 and 2 feature comfortable one-bedroom layouts with full kitchens, living rooms, and baths, while Unit 3 offers a studio setup with a full bath. Each unit has been thoughtfully updated with luxury vinyl plank flooring, granite countertops, new cabinetry, and stainless-steel appliances within the last 4 years. Additional recent improvements include a newer roof (2023), newly paved patio (2023), new water heaters (Unit 2 & 3), and an added water softener, ensuring low-maintenance ownership for years to come. With off-street parking, attractive river views, and a location that puts residents within walking distance of the waterfront, this is an investment opportunity you won't want to miss!

Additional Information

Interior Features
Kitchen Island, Main Level Primary, Open Floorplan, Pantry, Separate Shower, Utility Room
Exterior Features
Balcony, Porch, Patio
Taxes
$962
Property Description
Two Story
Zoning
Residential, Commercial
Appliances
Dryer, Dishwasher, Freezer, Microwave, Oven, Range, Refrigerator, Water Softener, Washer
Heating
Forced Air, Heat Pump
Air Conditioning
Central Air, Wall Unit(s)
Stories
2
Levels
Two
Roof
Shingle
Foundation
Crawlspace
View
River

Mortgage Calculator

Amount of Loan
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Term of Loan
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Calculator source: Real Geeks

Listing courtesy of F.C. Tucker/Scott Lynch Group.