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1775 Antler Court - Lexington Arms Apartments, Elwood, IN

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1775 Antler Court - Lexington Arms Apartments

Elwood, IN 46036-3236 - North Madison County MF Submarket

Property Type:Multi-Family Number of Units:36 Status:Existing Year Built:1965
Stories:2 Building Size:36,000 SF Land Area:2.14 AC (93,218 SF)
For Sale Price:$1,100,000 Price/Unit:$30,555.56 Cap Rate:8.19 % GRM:-

Parking:2.16 Parking Spaces / 1,000 SF

Sale Notes:
Marcus & Millichap is pleased to offer Lexington Arms Apartments. Lexington Arms is a 36 unit apartment community located on the south side of Elwood, Indiana. The property was built in 1965 as four all brick buildings on a 2.014 acre site. Lexington Arms is comprised entirely of two-bedroom/one-bath apartments each containing 1000 square feet of livable space. There are nine common entry's with four units in each. Each entry contains a basement with a small laundry room, individual storage units, a water heater, and a water softener. Lexington Arms benefits from a great location. There is a strip center immediately south of the property, which contains a new Dollar General Market Store. The current owner of Lexington Arms has kept the property in good condition leaving little or no differed maintenance. There is one on-site maintenance individual who takes care of minor repairs as well as the day-to-day operations of the property. The supply of market rate apartment buildings in Elwood is limited. Don't miss this opportunity to own 36 stabilized apartment units in Elwood Indiana.

Marcus & Millichap Inc
Brent Silcox
(317) 218-5319

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