The Press | 615 Ferry St
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The Press 615 Ferry St
54 Unit Apartment Building $7,900,000 ($146,296/Unit) Lafayette, IN 47901
Investment Highlights
- Convenient Downtown Lafayette location near Purdue, trolley to campus, downtown restaurants/coffee/tea/shopping
- Open plan with high ceilings, original terazo and other original building finishes and features
- Property was previously home to Lafayette Journal & Courier newspaper. Multifamily Units have been over 90% leased since 2018 renovation
Executive Summary
Property includes 54 Multifamily units (45-1 Bdrm/1BA, 9-Studio, 2-1 BDRM/2 BA), 12 Individual office units, 5,000 SF Federal Style Building on Corner (ready for build out), .22 AC Surface Parking Lot w/ 26 spaces
Property Facts
| Price | $7,900,000 | Lot Size | 0.79 AC |
| Price Per Unit | $146,296 | Building Size | 30,230 SF |
| Sale Type | Investment | Average Occupancy | 98% |
| No. Units | 54 | No. Stories | 4 |
| Property Type | Multifamily | Year Built/Renovated | 1960/2018 |
| Property Subtype | Apartment | Parking Ratio | 1.28/1,000 SF |
| Apartment Style | Mid Rise | Opportunity Zone |
Yes
|
| Building Class | C |
| Price | $7,900,000 |
| Price Per Unit | $146,296 |
| Sale Type | Investment |
| No. Units | 54 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid Rise |
| Building Class | C |
| Lot Size | 0.79 AC |
| Building Size | 30,230 SF |
| Average Occupancy | 98% |
| No. Stories | 4 |
| Year Built/Renovated | 1960/2018 |
| Parking Ratio | 1.28/1,000 SF |
| Opportunity Zone |
Yes |
Unit Amenities
- Air Conditioning
- Dishwasher
- Heating
- Ceiling Fans
- Eat-in Kitchen
- Kitchen
- Refrigerator
- Oven
- Tub/Shower
- Carpet
- Basement
- Office
- Smoke Free
Site Amenities
- Business Center
- Fitness Center
- Laundry Facilities
- Trash Pickup - Door to Door
- Vintage Building
- Community-Wide WiFi
- Conference Rooms
- Elevator
- Health Club Discount
- Public Transportation
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 9 | - | 400 - 540 |
| 1+1 | 43 | - | 500 - 1,150 |
| 1+2 | 2 | - | 500 - 1,150 |
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Walk Score ®
Very Walkable (87)
PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | $4,607,300 | |
| Land Assessment | $746,900 | Total Assessment | $5,354,200 |
PROPERTY TAXES
Parcel Numbers
Land Assessment
$746,900
Improvements Assessment
$4,607,300
Total Assessment
$5,354,200
zoning
| Zoning Code | Central Business (CB) (To provide core business areas in the central parts of the City of Lafayette for retailing, services, government and professional offices, housing.) |
| Central Business (CB) (To provide core business areas in the central parts of the City of Lafayette for retailing, services, government and professional offices, housing.) |
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The Press | 615 Ferry St
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