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408 N Jefferson Street, 
Converse, IN 46919

$715,000


18

Beds


14

Baths


7,880

Sq Ft


Multi-Family


Virtual Tour

Active

Listed by

Jonathan Preusz, Cell: 765-667-1990

Century 21 Bradley Realty, Inc

Last updated:

July 13, 2026, 05:08 PM

MLS#

202621117

Source:

Indiana Regional MLS

About This Home

408 N Jefferson Street

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.

Home Facts

Multi-Family

14 Baths

18 Bedrooms

Built in 1970

Price Summary

715,000

$90 per Sq. Ft.

MLS #:

202621117

Last Updated:

July 13, 2026, 05:08 PM

Added:

a month ago


Rooms & Interior

Bedrooms

Total Bedrooms:

18

Bathrooms

Total Bathrooms:

14

Full Bathrooms:

14

Interior

Living Area:

7,880 Sq. Ft.


Structure

Structure

Building Area:

7,880 Sq. Ft.

Year Built:

1970


Lot

Lot Size (Sq. Ft):

19,602


Finances & Disclosures

Finances

Price:

$715,000

Price per Sq. Ft:

$90 per Sq. Ft.

Source:Indiana Regional MLS
IRMLS 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. IRMLS Data is deemed reliable but is not guaranteed accurate by the MLS. IRMLS information provided by the Indiana Regional MLS. Copyright 2026 Indiana Regional MLS LLC.

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Contact an Agent

Yes, I would like more information. Please use and/or share my information with a Coldwell Banker ® affiliated agent to contact me about my real estate needs. By clicking Contact, I request to be contacted by phone or text message and consent to being contacted by automated means. I understand that my consent to receive calls or texts is not a condition of purchasing any property, goods, or services. Alternatively, I understand that I can access real estate services by email or I can contact the agent myself.

If a Coldwell Banker affiliated agent is not available in the area where I need assistance, I agree to be contacted by a real estate agent affiliated with another brand owned or licensed by Anywhere Real Estate (BHGRE®, CENTURY 21®, Corcoran®, ERA®, or Sotheby's International Realty®). I acknowledge that I have read and agree to the terms of use and privacy notice.