601 W Center Dr - Apartments FOR SALE


North Liberty, IN 46554
$2,299,000 USD
647-740-3348
601 W Center Dr, North Liberty, IN for Sale
$2,299,000 USD
Apartments - FOR SALE
1/11
null | 6.8% Cap Rate

601 W Center Dr
North Liberty, IN 46554


HIGHLIGHTS

  • Turnkey, Stabilized Asset: Immediate, secure cash flow with 95% occupancy. Minimal lease-up risk for a new owner.
  • Recent Capital Investment: Fully upgraded in 2024, minimizing near-term capital expenditure for a new buyer.
  • Value-Add Potential: Significant opportunity for rent improvement to market rates and potential end-cap expansion (subject to zoning approval).
  • Expansive Lot: 4.18 Acres zoned R2 Multi-Family Residential offers future development possibilities for carports, garages, or additional density.
  • Strategic Location: Situated in North Liberty, Indiana, a commutable and affordable residential community providing housing demand for the greater Sou

OVERVIEW

The Vues at North Liberty presents a turnkey, stabilized multifamily investment opportunity perfectly suited for investors seeking to place 1031 exchange funds into a high-performing asset. This complex, comprising 10 duplex buildings with recent 2024 upgrades, boasts a powerful 100% occupancy rate, offering immediate, reliable cash flow. Strategically located 15 miles southwest of South Bend in the growing North Liberty Township, the property benefits from strong regional demand. Investors acquire an updated, low-maintenance asset with demonstrable upside through rent improvement and potential expansion opportunities (carports/garage additions, or converting end-cap units) on the expansive 4.18-acre R2 zoned lot. Location & Market Analysis: North Liberty provides a key affordability buffer to the larger South Bend metropolitan area, driving strong, consistent demand for rental housing. Located just 15 miles southwest of South Bend, the town offers residents an accessible commute while maintaining a lower cost of living. This positioning ensures The Vues at North Liberty benefits from the economic strength of the county seat, maintaining high occupancy and providing a reliable tenant pool. SECURE THIS STABILIZED MULTI-FAMILY INVESTMENT TODAY.

FOR SALE DETAILS

PRICE

$2,299,000 USD

PRICE/SF

$144 USD /SF

# OF UNITS

20

PRICE/UNIT

$114,950

CAP RATE

6.8%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

The Vues at North Liberty

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Garden

PROPERTY SUBTYPE

Apartments

ADD'L SUBTYPES

Dormitory

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1979

PARKING SPACES

40

LAND DETAILS

LAND ACRES

4.18 AC

LAND SF

182,081 SF

ZONING

R2

APN/PARCEL ID

71-12-29-452-001.000-035,71-12-29-452-002.000-035,71-12-29-452-003.000-035,71-12-29-452-004.000-035,71-12-29-452-005.000-035,71-12-29-452-006.000-035,71-12-29-452-007.000-035,71-12-29-452-008.000-035,71-12-29-452-009.000-035,71-12-29-452-010.000-035

ASK ABOUT THIS PROPERTY

Juan VillarrealVillar Real Estate AdvisorsMore Info
647-740-3348

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Juan VillarrealVillar Real Estate AdvisorsMore Info
647-740-3348

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