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201 W Saint Clair Street - The Annex of Vincennes, Vincennes, IN

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201 W Saint Clair Street - The Annex of Vincennes

St Clair St & Chestnut St
Vincennes, IN 47591-1699

Property Type:Multi-Family Number of Units:52 Status:Existing Year Built:1989
Stories:3 Building Size:38,140 SF Land Area:1.6 AC (69,696 SF)
For Sale Price:For Sale Price/Unit:- Cap Rate:7.00 % GRM:-

Parking:1.55 Parking Spaces / 1,000 SF

The apartments are surrounded by the VU campus. The university recently purchased the adjacent neighborhood and demolished the houses for parking and future growth. Although that had a negative effect on apartment rents at the time, it now affords the owners the opportunity to raise rents.

Sale Notes:
The Annex of Vincennes is a student housing property serving the Vincennes University community in southwest Indiana. The Annex contains 52 units and 128 total beds and is comprised of 46 Two Bedroom/One Bath units and 6 Six Bedroom/Two Bath units. The University had an enrollment of 4,713 in fall 2015, and the Annex achieved an occupancy level of 96.09%.

The Annex was originally constructed in phases from 1988 to 1995 and completely renovated in 2014. The units are fully furnished and there are laundry facilities on-site. Other amenities include a well-appointed clubhouse and communal living room area equipped with a flat screen TV, bike racks and free cable/internet.

Triad Real Estate Partners
Ryan Tobias
(312) 878-7362

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