100% Occupied Multi-family 32 Unit Complex for Sale in Newburgh!

Multi-Family for Sale
Catylist Listing ID: 30048264
Property Subtypes: Mid-Rise
Number of Units: 32 Units
Building Size (RSF): 27,568 SF
Gross Building Area: See Agent
Gross Land Area: 2.13 Acres
Sale Price: $1,445,000 - 1,520,000
Unit Price: $45,156.25 Per Unit
Property Use Type: Investment
Building Name: Brentwood Arms Apartments
Usable Size (USF): 27,568 SF
Sale Terms: Cash to Seller, Purchase Money Mortgage
Cap Rate: 9.0%
Last Updated: 6/8/2017

Overview / Comments

Rare Investment Opportunity 100% Occupied 32 Unit (ALL 2 bedroom) Multi-family units for sale in Newburgh. Take advantage of a strong rental market where there is room to raise rents and continue to increase this properties value. Great location that abuts to Sharon Elementary School's parking lot with walk bridge to Brentwood. Newer roofs and many interior upgrades inside and out. Refrigerator Dishwasher, Stove and built in Microwave in each unit. Property is currently being professionally managed by Goebel Commercial Realty and is a non-smoking property. Property has complete tenant file records that were professionally and consistently screened including move-in inspection reports with move-in condition pictures. Contact Listing Agent for more information. Rent roll and actual 2016 numbers available upon signing confidentiality agreement.

Financials

Finance Data Year 2017
Real Estate Taxes - Annual($) $13,293 (Annual)
Potential Rental Income $232,740 (Annual)
Actual or Proforma Year Actual

Additional Details

Nearest MSA: Evansville
County: Warrick
Taxing Authority: Warrick County Assessor
Tax ID/APN: 87-12-35-204-006.000-019; 87-12-35-204-007.000-019; 87-12-35-206-005.001-019; 87-12-35-206-008.000-019; 87-12-35-206-009.000-019
Percent Occupied: 100%
Property Located Between: Old State Rd 261 and W State Rd 66
Highway Access: W State Rd 66- .5mi Old State Rd 261- 2mi
Airports: EVV Airport- 16 miles
Site Description: Partially wooded and sloping.
Area Description: Conveniently located in Newburgh close to schools and shopping. Directions: From 66 East into Newburgh, right onto Sharon Road.
Total Number of Buildings: 5
Property Condition: Good
Number of Stories: 2
Year Built: 1978
Roof Type: Gable
Construction/Siding: Brick/Vinyl Siding
Exterior Description: Low maintenance timeless red brick mixed with neutral color vinyl siding.
Parking Type: Surface
Parking Description: Concrete Parking Lot with ample parking in front of apartments for tenants and guests.
Total Parking Spaces: 60
Laundry: In Each Unit
Sprinklers: None
Heat Type: Electricity
Heat Source: Central
Air Conditioning: Package Unit
Internet Access: Cable, DSL, Satellite
Interior Description: See Interior Pictures of a recent apartment turn under listing "Photos & Documents"
Water Service: Municipal
Sewer Type: Municipal

Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 9,515 27,686 44,007
Median Age: 35.59 38.5 39.34
Households: 3,484 10,401 16,971

Contact

Source

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