1321 N 3rd St - Apartments FOR SALE


Vincennes, IN 47591
$2,900,000 USD
812-598-0477
1321 N 3rd St, Vincennes, IN for Sale
$2,900,000 USD
Apartments - FOR SALE
1/13
null | Request Cap Rate

1321 N 3rd St
Vincennes, IN 47591


HIGHLIGHTS

  • 16 Newly Renovated Units
  • 7 Units Undergoing Renovation Currently at 80% Completion

OVERVIEW

Discover an investment opportunity with this 32-unit apartment complex located at 1321 N. 3rd St., Vincennes, IN 47591. This property boasts 16 fully renovated one-bedroom, one-bath units, showcasing modern flooring, stylish trims, contemporary fixtures, sleek cabinetry, and high-end appliances. The renovations not only enhance aesthetic appeal but also ensure higher rental demand and increased revenue potential. The exterior of the building has significant upgrades, including improvements to the parking lot and mailbox area. With half of the units already rehabilitated, investors have the unique opportunity to complete renovations on the remaining 16 units, further increasing property value and maximizing rental income. Located in a desirable area, this apartment complex offers convenience to local amenities, schools, and public transportation, making it an attractive residence for tenants seeking comfort and accessibility. Positioned for growth, this property is ideal for investors seeking to capitalize on the increased rental opportunities by enhancing the remaining units and updating the common areas. Don’t miss out on this chance to acquire a well-maintained asset with room for significant returns.

FOR SALE DETAILS

PRICE

$2,900,000 USD

PRICE/SF

$189 USD /SF

# OF UNITS

32

PRICE/UNIT

$90,625

CAP RATE

Request Cap Rate

% LEASED

35%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Campus East Apartments

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1973

PARKING SPACES

34

LAND DETAILS

LAND ACRES

0.77 AC

LAND SF

33,541 SF

ZONING

R-2

APN/PARCEL ID

42-12-22-205-070.000-022,42-12-22-205-111.000-022,42-12-22-205-112.000-022,42-12-22-205-113.000-022

ASK ABOUT THIS PROPERTY

Ryan MillerERA First Advantage Realty, Inc.More Info
812-598-0477

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Ryan MillerERA First Advantage Realty, Inc.More Info
812-598-0477

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