500-516 Richardt Ave - Apartments FOR SALE


Evansville, IN 47711- Diamond-Stringtown
$990,000 USD
270-991-9093
500-516 Richardt Ave, Evansville, IN for Sale
$990,000 USD
Apartments - FOR SALE
1/3
null | 7% Cap Rate

500-516 Richardt Ave
Evansville, IN 47711
Diamond-Stringtown


OVERVIEW

This property presents a strong turnkey investment in a growing Evansville neighborhood. This stabilized asset is 100% occupied, with rents currently well below market, offering immediate upside for a new owner. Priced below replacement cost, the property provides solid in-place cash flow with big potential for rent increases and long-term appreciation. Located in a community experiencing steady growth, this is an ideal opportunity for investors seeking strong fundamentals and room to add value.

FOR SALE DETAILS

PRICE

$990,000 USD

PRICE/SF

$101 USD /SF

# OF UNITS

16

PRICE/UNIT

$61,875

CAP RATE

7%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Richardt Apartments

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1979

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.35 AC

LAND SF

15,246 SF

ZONING

C-2

APN/PARCEL ID

82-06-17-031-089.021-029

ASK ABOUT THIS PROPERTY

Gerri BowersStar Property ManagementMore Info
270-991-9093

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Gerri BowersStar Property ManagementMore Info
270-991-9093

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