Historic Multi-Family Property Offering Strong Cash Flow
We are thrilled to announce the successful sale of a prime investment property located at 306 North State Street in Greenfield, Indiana. This 1.5-story historic triplex, totaling 3,113 square feet on a 0.17-acre lot, represents a rare opportunity for investors seeking multi-family properties in a central location with strong cash flow potential and long-term appreciation.
Built with durable wood and steel framing, this triplex has been maintained with care and features three residential units, providing immediate rental income for the new owner. Its multi-family zoning allows for flexibility in operations, upgrades, or potential future expansion, making it an ideal property for both long-term investors and developers seeking a stable asset in a growing Indiana market.
Located on one of Greenfield’s central streets, 306 North State Street offers convenient access to downtown amenities, including shops, restaurants, schools, parks, and healthcare services. Its high visibility and walkability make it attractive to tenants seeking both convenience and community. The combination of location, historical charm, and functional layout sets this property apart from other multi-family offerings in the area.
For investors, the property presented a strong opportunity to capture consistent rental income. Triplexes like this are increasingly rare in Greenfield’s downtown market, particularly those with well-maintained structures and central locations. Each unit has been updated to appeal to modern tenants while preserving the property’s historic character, balancing functionality with aesthetic appeal.
In addition to its income potential, the property’s size and lot area provide strategic advantages for future development. With 3,113 square feet spread across three units on a 0.17-acre parcel, there is room to enhance amenities, reconfigure layouts, or explore modernization projects. The property’s wood and steel framing ensures structural integrity, reducing maintenance concerns and supporting long-term investment strategies.
Greenfield’s growing market contributes to the property’s value and long-term outlook. The city has experienced steady population growth, infrastructure improvements, and increased demand for rental housing. This triplex not only offered reliable income but also positioned its new owner to benefit from Greenfield’s continuing development and rising property values. For investors focused on small-town markets with strong growth trajectories, properties like this offer both immediate returns and strategic potential.
The successful sale of 306 North State Street underscores the demand for multi-family investments in Greenfield. Investors are increasingly targeting properties that combine strong location, rentable square footage, historic character, and multi-family zoning. This triplex exemplifies the type of asset that balances immediate cash flow with long-term growth, appealing to both seasoned investors and developers exploring downtown opportunities.
Congratulations to the buyer and seller on a smooth transaction. Properties like 306 North State Street illustrate why downtown Greenfield remains a competitive and rewarding market for multi-family investments. For investors or developers looking to expand their portfolios in the area, understanding the local market, zoning advantages, and the value of well-located multi-family assets can make a meaningful difference in long-term success.
If you own a multi-family property in Greenfield or are considering an investment in the city’s growing rental market, now is a strong time to explore opportunities. With limited inventory and increasing demand, properties like this triplex highlight how strategic acquisitions can deliver both income and long-term appreciation.
