Peyton Place Apartments | 1517 Jeanette Ave
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Peyton Place Apartments 1517 Jeanette Ave
22 Unit Apartment Building $1,350,000 ($61,364/Unit) 6.60% Cap Rate Evansville, IN 47714
Executive Summary
Payton Place apartments ("PPA") consists of 3 brick buildings (2-stories) containing 21 - 1 BR units and 1 Efficiency apartment. Current occupancy as of October
2024 is 93.5% (2 vacant units) with historically stable occupancy. Property is located at the corner of Covert Avenue/Jeanette Avenue, a few blocks west of S.
Green River Road, as well as a couple blocks away from McGary Middle School and Holy Rosary Catholic School/Church, with convenience to the Evansville city transportation system.
2024 is 93.5% (2 vacant units) with historically stable occupancy. Property is located at the corner of Covert Avenue/Jeanette Avenue, a few blocks west of S.
Green River Road, as well as a couple blocks away from McGary Middle School and Holy Rosary Catholic School/Church, with convenience to the Evansville city transportation system.
Financial Summary (Actual - 2023) |
Annual | Annual Per SF |
|---|---|---|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$40,762
|
$3.34
|
Financial Summary (Actual - 2023)
| Taxes | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $40,762 |
| Annual Per SF | $3.34 |
Property Facts Under Contract
| Price | $1,350,000 | Building Class | B |
| Price Per Unit | $61,364 | Lot Size | 0.46 AC |
| Sale Type | Investment | Building Size | 12,210 SF |
| Cap Rate | 6.60% | Average Occupancy | 94% |
| No. Units | 22 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1970 |
| Property Subtype | Apartment | Parking Ratio | 9.45/1,000 SF |
| Apartment Style | Low Rise |
| Price | $1,350,000 |
| Price Per Unit | $61,364 |
| Sale Type | Investment |
| Cap Rate | 6.60% |
| No. Units | 22 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | B |
| Lot Size | 0.46 AC |
| Building Size | 12,210 SF |
| Average Occupancy | 94% |
| No. Stories | 2 |
| Year Built | 1970 |
| Parking Ratio | 9.45/1,000 SF |
Unit Amenities
- Heating
- Kitchen
- Oven
- Range
- Tub/Shower
Site Amenities
- 24 Hour Access
- Walk-Up
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 21 | - | 553 |
| Studios | 1 | - | 414 |
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PROPERTY TAXES
| Parcel Number | 82-06-35-011-151.001-027 | Improvements Assessment | $251,700 |
| Land Assessment | $20,000 | Total Assessment | $271,700 |
PROPERTY TAXES
Parcel Number
82-06-35-011-151.001-027
Land Assessment
$20,000
Improvements Assessment
$251,700
Total Assessment
$271,700
zoning
| Zoning Code | R-3 |
| R-3 |
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Peyton Place Apartments | 1517 Jeanette Ave
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