1114 N Fox Ridge Links Drive, Vincennes, IN 47591

About this home

This well-maintained five-unit storage building offers a solid income-producing opportunity within the established Fox Ridge community. Each unit contains approximately 312 square feet, providing versatile storage solutions for tenants or personal use. The property currently demonstrates strong occupancy, with four of the five units in use. Two units are secured under one-year leases paid in advance, while one unit is leased on a month-to-month basis, offering both stability and flexibility in rental income. One unit is presently vacant, allowing opportunity for immediate additional revenue or owner use. The building generates consistent rental income, with units renting for $170 per month, equating to $2,040 annually per leased unit. Operating expenses are predictable and manageable. Association dues are $900 annually, billed quarterly. Additional costs include building shell insurance and utilities, with property taxes paid current. The storage building is governed by the Fox Ridge Condominium Association declarations and by-laws, ensuring uniform standards for maintenance and operation. Notably, the property operates independently without affiliation to Lakeview One, LLC and is not subject to LVO dues or assessments. This property presents a low-maintenance investment with reliable cash flow potential, ideal for investors seeking stable income or an owner-user needing secure storage space with supplemental rental income.