1143 1163 Covert Ave

1143 1163 Covert Ave, Evansville, Indiana 47714

  • Property Subtypes Low-Rise/Garden , Other
  • Gross Building Area 11,490 SF
  • Building Name The Phoenix Apartments
  • Building Status Existing
  • Sale Price $1,399,966.00 Total
  • Property Use Type Investment
  • Class of Space N/A
  • Total Land Size 1.48 Acres
  • Sale Terms Cash to Seller
  • Cap Rate 9
  • Last Updated 3/30/2020
  • Days on Market 12 Days
  • Status active

Overview / Comments

The Phoenix is a 39 unit complex consisting of three buildings with 13 units each. Located on the SW corner of Highway 41 and Covert. Each building has a new boiler. Middle building has a laundry area that produces income. Current owner has worked hard rehabbing the units as needed, while building a new tenant base that pays their own electric. Water, trash, and sewer are included. Units are smoke free and pet free. Professionally managed and vacant units rent quickly. Opportunity to increase below market rents. Seller is a licensed real estate agent.

Additional Details

  • Tax ID/APN 0
  • Zoning R-4
  • Property Visibility N/A
  • Total Number of Buildings 3
  • Year Built 1974

Original text