808 S Indiana Ave - Apartments FOR SALE


Sellersburg, IN 47172
$1,450,000 USD
615-973-5373
808 S Indiana Ave, Sellersburg, IN for Sale
$1,450,000 USD
Apartments - FOR SALE
1/40
null | 6.45% Cap Rate

808 S Indiana Ave
Sellersburg, IN 47172


HIGHLIGHTS

  • Located 8 miles north of Louisville, KY with easy access to Interstate 65
  • Rents are currently $176 below market rate
  • Current ownership has spent roughly $80,000± on capital improvements over the past 36-months.
  • Electricity is individually metered

OVERVIEW

Now Scheduling Tours Reach Out to Listing Agents to Schedule a Tour Link to Deal Room and Financials: https://www.marcusmillichap.com/properties/181675/indiana-ave-apartments Marcus & Millichap has been selected to exclusively market for sale the Indiana Ave Apartments in Sellersburg, IN. This offering will allow a potential investor to purchase a rare value-add investment opportunity located in the Louisville, KY MSA. Indiana Ave Apartments is a 16-unit value-add opportunity located just 8 miles north of Louisville in growing Sellersburg, IN, with easy access to I-65. The property offers strong tenant demand and rents averaging $176 below market. Recent capital improvements total $80,000±, including unit remodels, HVAC and roof replacements, and driveway repaving. All units are slab-built with in-unit washers and dryers. Utilities are investor-friendly with individual electric meters and three water meters. With copper wiring, PVC plumbing, and a prime suburban location, this asset offers both stability and upside. Offers should be presented in the form of a non-binding Letter of Intent, spelling out the significant terms and conditions of the Purchaser’s offer including, but not limited to: 1) asset pricing, 2) due diligence and closing time frame, 3) earnest money deposit, 4) a description of the debt/equity structure, and 5) qualification to close. The purchase terms shall require all cash to be paid at closing. AT NO POINT SHOULD TENANTS OR STAFF BE CONTACTED REGARDING THE SALE OF THE INDIANA AVE APARTMENTS.

FOR SALE DETAILS

PRICE

$1,450,000 USD

PRICE/SF

$85 USD /SF

# OF UNITS

16

PRICE/UNIT

$90,625

CAP RATE

6.45%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Indiana Ave Apartments

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Garden

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1991

PARKING SPACES

-

LAND DETAILS

LAND ACRES

1.29 AC

LAND SF

56,192 SF

ZONING

-

APN/PARCEL ID

10-17-08-900-201.000-031

ASK ABOUT THIS PROPERTY

Patrick CosgroveMarcus & MillichapMore Info
615-973-5373

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Patrick CosgroveMarcus & MillichapMore Info
615-973-5373

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