709 S Hutchinson Ave - Apartments FOR SALE


Muncie, IN 47303- North Muncie
$665,000 USD
317-448-8852
709 S Hutchinson Ave, Muncie, IN for Sale
$665,000 USD
Apartments - FOR SALE
1/5
null | 6.09% Cap Rate

709 S Hutchinson Ave
Muncie, IN 47303
North Muncie


OVERVIEW

709 South Hutchinson Avenue is an 8 unit apartment community built in 1964, comprising two buildings totaling 5,432 square feet (4,028 and 1,404 square feet) on a nearly half acre lot, plus a utility shed and paved off street parking. The unit mix consists of 6 two bedroom units and 2 one bedroom units, for 14 beds and 8 baths total. Every unit has been completely remodeled within the past couple of years, the property received a new shingle roof in 2025, and washer/dryer hookups in every unit. Water, sewer, and trash are billed back to tenants monthly, helping offset owner operating costs. The result is a well maintained, largely turnkey multifamily asset with minimal near term capital needs for an incoming buyer. 709 South Hutchinson Avenue sits in Muncie's Westside neighborhood, in Delaware County's Center Township, on a paved side street just west of Wheeling Avenue between State Road 332 and White River Boulevard. The property is positioned between the White River and Ball State University, putting it within easy reach of both the university and IU Health Ball Memorial Hospital, two of the area's largest employers and steady sources of rental demand.? Tree lined streets and a mix of mid century ranches and bungalows define the immediate surroundings, and residents are a short distance from Minnetrista Museum & Gardens and the David Owsley Museum of Art. All public utilities, including electricity, gas, sewer, and water, serve the site.

FOR SALE DETAILS

PRICE

$665,000 USD

PRICE/SF

$190 USD /SF

# OF UNITS

8

PRICE/UNIT

$83,125

CAP RATE

6.09%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

None

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1965

PARKING SPACES

8

LAND DETAILS

LAND ACRES

0.43 AC

LAND SF

18,600 SF

ZONING

R5

APN/PARCEL ID

18-11-17-260-010.000-003

ASK ABOUT THIS PROPERTY

Jacob WagnerColdwell Banker Commercial Real Estate GroupMore Info
317-448-8852

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Jacob WagnerColdwell Banker Commercial Real Estate GroupMore Info
317-448-8852

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