301 Parent Dr - Apartments FOR SALE


Ossian, IN 46777
$5,830,000 USD
260-424-8448
301 Parent Dr, Ossian, IN for Sale
$5,830,000 USD
Apartments - FOR SALE
1/7
null | 6.27% Cap Rate

301 Parent Dr
Ossian, IN 46777


HIGHLIGHTS

  • Also available as a portfolio with other locations in Kendallville and Marion
  • Portfolio includes 134 units across three sites

OVERVIEW

Sturges Property Group has been appointed the exclusive agent for the sale of the Ossian Apartment Community, an age-restricted (55+) multifamily property located at 301 Parent Drive in Ossian, Indiana. The 46-unit community is spread across four buildings on approximately 6.28 acres, with a portion of the land to be split at closing, offering investors a substantial multifamily asset with stable income potential. The community features a desirable unit mix with a majority of units including front-facing garages and in-unit laundry throughout. Tenants are separately metered and responsible for all utilities, minimizing landlord expense exposure. This offering presents investors with the opportunity to acquire a well-constructed, age-restricted multifamily asset in a growing Northeast Indiana community, with upside potential through future rental rate growth. Broker’s Note: Please do not visit the property or disturb tenants.

FOR SALE DETAILS

PRICE

$5,830,000 USD

PRICE/SF

$145 USD /SF

# OF UNITS

46

PRICE/UNIT

$126,739

CAP RATE

6.27%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Ossian Age-Restricted Multifamily Communities

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Garden

PROPERTY SUBTYPE

Apartments

ADD'L SUBTYPES

Apartments

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1998

PARKING SPACES

-

LAND DETAILS

LAND ACRES

6.28 AC

LAND SF

273,557 SF

ZONING

R3

APN/PARCEL ID

90-02-15-200-052.000-009,90-02-15-200-054.000-009

ASK ABOUT THIS PROPERTY

Neal BowmanSturges Property GroupMore Info
260-424-8448

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Neal BowmanSturges Property GroupMore Info
260-424-8448

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