501 N Broadway Street Butler, IN 46721

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Sixplex • 126Y Old

$260,000

501 N Broadway Street

8 Bedrooms
6 Bathrooms
3712 sqft
0.18 Acres
Property Description

This versatile multi-family investment opportunity in the heart of Butler offers strong cash flow potential with a cap rate of 10% or greater! This well-maintained six-unit apartment building features two spacious 2-bedroom units and four 1-bedroom units, making it an attractive option for a variety of tenants. Conveniently located near downtown Butler and within easy commuting distance to many local factories and major employers, the property benefits from consistent rental demand. Designed for low-maintenance ownership, the exterior features durable vinyl siding and a metal roof. Tenants enjoy off-street parking for up to six residents, a shared laundry facility, and private full bathrooms in every unit. Each apartment also includes a kitchen equipped with a refrigerator, stove, and cabinet storage. A detached garage provides valuable additional storage space for maintenance materials, tools, or other operational needs. Tenants pay all utilities, helping maximize owner profitability, and the current owners utilize professional property management for streamlined operations. Whether you are looking to expand your portfolio or step into multifamily investing, this income-producing property presents an excellent opportunity with solid returns and long-term potential.

Directions

Take State Rd 1 into the town of Butler. Building will be on left side of the road, about 5 blocks before the center of town.

Map to 501 N Broadway Street, Butler, IN 46721

Property
MLS # 202618820
Date Listed 2026-05-18
Status Active
Property Type Investment
Property SubType Sixplex
Finished Square Feet 3712 sqft
Total Square Feet 4336 sqft
New Construction No
Style Two Story
Type Sixplex
Basement Yes
Bedrooms 8
Bathrooms 6
Annual Taxes $4,745.04
Year Taxes Payable 2025 due 2026
Year Built 1900
Virtual Tour propertypanorama.com »
Days on Market 6
Room Dimensions
Living Room 2 × 0 Level
Family Room 750 × 650 Level
Kitchen 750 × 600 Level
5th Bedroom 6 × 6 Level
Extra Room 1 × 0 Level
Bathroom Locations
Full Baths 8 Main, 1 Upper
External Features
Construction Sixplex
Lot Size 7,841 sq ft
Acreage 0.18 Acres
Lot Dimensions 60x127
Fence None
Location
Area Dekalb County
County Dekalb
Subdivision None
Township Wilmington
City Butler
State IN
Zip 46721
Schools
School District Dekalb Co. Eastern
Elementary Butler
Middle School Eastside
High School Eastside
Financial
Assoc. Dues $0.00 Not Applicable

MLS# 202618820
Listing Provided Courtesy of Christina Koher
RE/MAX Results
Cell: 260-668-9235

Listing updated May 19, 2026 at 10:43 am
Last checked 6 minutes ago

IDX information provided by the Indiana Regional MLS. IDX 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. Data is deemed reliable but is not guaranteed accurate by the MLS.

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