Listing courtesy of True Realty · Listing agent: Cherie Smith · Cell: 765-438-5971
371 & 383 W 12th Street
Peru, IN 46970
Original price $675,000 · Price reduced on July 5, 2026
- 1.5 acres
- Pool
- Basement
- Bedrooms
- 22
- Bathrooms
- 15
- Living area
- 12,306 sq ft
- Lot
- 1.52 ac
- Year built
- 1880
- Type
- Other
- Listed
- November 22, 2025
- MLS #
- 202547048
About this home
Discover an excellent investment opportunity with this multi-building property featuring a total of 15 rentable units in the heart of Peru (8 one bedroom units and 7 two bedroom units). Spread across multiple structures, this property offers a strong blend of stability and value-add potential for any investor. Many of the units have been freshly painted within the last few years, and several feature updated flooring for improved durability and tenant appeal. Two of the buildings are equipped with long-lasting metal roofs, reducing future maintenance needs and providing added peace of mind. With a mix of month-to-month and long-term leases, this property offers both immediate income and room for strategic rent growth. A rare chance to acquire a multi-unit package with solid fundamentals and continued upside in a steady rental market.
Monthly payment estimate
$4,152/mo
- Principal & interest
- $3,448
- Property taxes
- $520
- Homeowners insurance
- $184
- Rate: Freddie Mac's 30-year fixed average for the week of October 1, 2026.
- Taxes: the seller's 2024 bill as reported to the MLS. Yours may differ once your own deductions apply.
- Insurance: estimated at 0.35% of the price per year.
- An estimate, not a loan offer. Your rate and payment depend on your credit, loan program and down payment.
Get pre-approved
Know your real budget before you tour, and make a stronger offer. We'll connect you with a local lender.
Property details
Interior
- Stories
- 2
- Total area
- 13,722 sq ft
- Finished area above grade
- 12,306 sq ft
- Unfinished area below grade
- 1,416 sq ft
- Main level
- 10,250 sq ft
- Upper level
- 2,056 sq ft
- Below grade total
- 1,416 sq ft
- Bedrooms above grade
- 22
- Basement
- Crawl Space, Slab, Cellar
- Flooring
- Carpet, Laminate, Vinyl
- Heating
- Electric, Natural Gas
- Cooling
- Central Air, Window Unit(s)
- Amenities
- Off Street Parking
Exterior & parking
- Construction
- Aluminum Siding, Vinyl Siding
- Parking
- Gravel, Parking Lot, Off Street
- Private pool
- Yes
- Pool
- Below Ground
- Other structures
- Shed(s)
- Outbuilding 1
- 80 sq ft
- New construction
- No
Waterfront & lake
- Waterfront
- No
Lot
- Lot features
- Irregular Lot
- Lot size (acres)
- 1.52 ac
- Lot dimensions
- Irregular
- County
- Miami County
- Township
- Peru
- Road frontage
- City Street
- Road surface
- Asphalt
- Platted
- Yes
- Planned unit development
- No
- Directions
- North on Grant from Broadway. Turn left onto 12th Street. Property on South side of road.
Schools
- Elementary school
- Elmwood/Blair Pointe
- Middle school
- Peru
- High school
- Peru
- School district
- Peru Community Schools
Taxes & terms
- Annual taxes
- $6,240
- Tax year
- 2024
- Tax exemptions
- No Exemptions
- Possession
- Subject to Tenants Rights
- Parcel number
- 52-08-28-301-054.000-016
Included in the sale
- Included in sale
- Building,Land,Lease
Utilities
- Water
- City
- Sewer
- Public Sewer
Income & commercial
- Units
- 15
- Buildings
- 6
- Annual gross rent
- $106,308
- Net operating income
- $83,544
- Parking spaces
- 15
- Pets allowed
- Yes
- Tenant pays
- Electricity, Fuel
- Electric meters
- 15
- Gas meters
- 10
- Insurance (annual)
- $5,000
- Water & sewer (annual)
- $9,924
- Fuel (annual)
- $1,600