1100 W Mill St - Apartments FOR SALE


Summitville, IN 46070
$1,650,000 USD
317-258-5976
1100 W Mill St, Summitville, IN for Sale
$1,650,000 USD
Apartments - FOR SALE
1/8
null | Request Cap Rate

1100 W Mill St
Summitville, IN 46070


HIGHLIGHTS

  • Stable Occupancy
  • Recent CapEx Improvements
  • Low investment entry point

OVERVIEW

Well positioned property located in Summitville, IN, 30 minutes from both Anderson and Muncie, IN. Property was originally funded through USRD loan, the property was removed from the program in 2024. 7 original USDA tenants remain, those units will convert to market rate upon Tenant turnover. Current owner has deployed significant CapEx, including new roofs and siding, new windows, and renovation of approximately 75% of current units

FOR SALE DETAILS

PRICE

$1,650,000 USD

PRICE/SF

$77 USD /SF

# OF UNITS

24

PRICE/UNIT

$68,750

CAP RATE

Request Cap Rate

% LEASED

92%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Village Apartments of Summitville

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1988

PARKING SPACES

-

LAND DETAILS

LAND ACRES

1.41 AC

LAND SF

61,420 SF

ZONING

R3

APN/PARCEL ID

48-01-20-300-034.000-037

ASK ABOUT THIS PROPERTY

Drew KellyForza Commercial Real EstateMore Info
317-258-5976

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Drew KellyForza Commercial Real EstateMore Info
317-258-5976

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.