9 Unit Building Vincennes Indiana

Multi-Family for Sale
Catylist Listing ID: 30794275
Number of Units: 9 Units
Building Size (RSF): 3,185 SF
Gross Building Area: See Agent
Gross Land Area: 0.13 Acres
Sale Price: $365,000
Unit Price: $40,555.56 Per Unit
In Opportunity Zone? Yes
Property Use Type: Investment
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Average Occupancy Rate: 95
Last Updated: 5/6/2022

Overview / Comments

Consistent rental income in small town Indiana. This 9 unit multifamily investment property has a long, proven history of consistent rental income. Property consists of 4 one-bedroom apartments and 5 studio apartments.
Rental structure is currently flat rate rents with all gas, electric, water, and sewer included. Many of the current tenants are long term renters.

Owner is downsizing portfolio. Owner has another 5-unit building for sell a few blocks away. Owner’s preference would be to sell both properties together.
Property owners are family relatives of listing agent.

Financials

Finance Data Year 2021
Real Estate Taxes - Annual($) $2,293 (Annual)
Gross Operating Income $48,716 (Annual)
Net Operating Income $33,741 (Annual)
Actual or Proforma Year Actual
Finance Data Year 2020
Real Estate Taxes - Annual($) $2,201 (Annual)
Gross Operating Income $50,071 (Annual)
Net Operating Income $39,391 (Annual)
Actual or Proforma Year Actual

Additional Details

Nearest MSA: Vincennes
County: Knox
Submarket/Township: Vincennes
Tax ID/APN: 42-12-21-402-019.000-022
Percent Occupied: 90%
Heat Source: Wall Units
Fuel: Gas
Air Conditioning: Window Unit
Legal Description: COCHRAN SD PT LOT 19-20

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 11,839 19,199 24,387
Median Age: 33.65 37.35 38.29
Households: 4,531 7,531 9,597
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