Property details

Apartments For Sale, Great Lakes - Big Rivers Region

Property Description

Apartments For Sale in Indiana made up of 98 total apartments. There are 92 Section 8 Guaranteed Income / Rural Development apartments and 6 privately owned apartments spread over 4 individual apartment complexes for sale.

The apartments are located in 4 neighboring southern Indiana towns with no more than 25 miles between the apartments. Although these apartments are centrally located near the Toyota plant in Princeton, IN, this is not the strongest selling point in this sale. The strong point is that these apartments are Section 8 Rural Development apartments with guaranteed rental income from the government.

Solid apartments for sale made of all brick. All apartment complexes have asphalt parking lots. All have a community center with a laundry in a separate building. As part of these apartments for sale, there is an additional 9+ acres abutting one of the apartment complexes included in this sale.

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Highlights

Status:
Available
Price:
$2,400,000
Cap Rate:
7.00%
Annual Rent:
$309,967
Rent Increases:
None
 

Property Information

Property Type:
Apartments
Industry Type:
Apartment - Multifamily
Units/Spaces:
98
Year Built:
1985
Land Area:
12.00 acres
Purchase Tenure:
Fee Simple
 

Existing financing information

N/A

The information contained herein contains confidential and/or privileged material. Any review, retransmission, dissemination or other use of, or taking of any action in reliance upon, this information by persons or entities other than the intended recipient will be prohibited. The information contained herein has been obtained from sources believed to be reliable. While we do not doubt its accuracy, we have not verified it and make no guarantee, warranty or representation about the accuracy or completeness of the information. As a buyer, it is your responsibility to independently confirm its accuracy and completeness. Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the property. The value of this property to you depends on factors which should be evaluated by your tax, financial and legal advisors. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for your needs. We have no knowledge of this offering other than the information received from Seller or their representatives. We are neither your agent or an agent for the seller. We will not participate in the negotiation of the purchase price or attend the showing of this property. As a buyer, you will be required to indemnify us and hold us harmless from any kind of claim, cost, expense, or liability arising out of your investigation and/or purchase of this property.