Countryside Villas 2171 S 300 E 32 Unit Apartment Building $2,400,000 ($75,000/Unit) 8.33% Cap Rate Kokomo, IN 46902
INVESTMENT HIGHLIGHTS
- Strong rental history
- 9 acre parcel - room for savvy investor to add units on this property
- Fantastic opportunity right off the Kokomo Bypass
EXECUTIVE SUMMARY
Fantastic opportunity right of the Kokomo Bypass (931). Note: 9 acre parcel and ready for the savvy investor to add units on this property.
Great little semi-rural apartment complex of 32 units with strong rental history which can give your portfolio great diversity and income!
Rents have been stable, but it is time to get with the times and begin to cash flow this beauty! Property is ready to be taken over, and with some minor improvements this could be a gem and a fantastic flip in a few years considering all the BIG NEWS and growth of Kokomo.
US 31 and the bypass is making Kokomo one of the most easily accessible markets from Indy! Easy drive to this property no more than 40 minutes. This is definitely worth and look and an easy property to manage, improve and cashflow! Every investors DREAM!
Great little semi-rural apartment complex of 32 units with strong rental history which can give your portfolio great diversity and income!
Rents have been stable, but it is time to get with the times and begin to cash flow this beauty! Property is ready to be taken over, and with some minor improvements this could be a gem and a fantastic flip in a few years considering all the BIG NEWS and growth of Kokomo.
US 31 and the bypass is making Kokomo one of the most easily accessible markets from Indy! Easy drive to this property no more than 40 minutes. This is definitely worth and look and an easy property to manage, improve and cashflow! Every investors DREAM!
DATA ROOM Click Here to Access
- Offering Memorandum
PROPERTY FACTS
| Price | $2,400,000 |
| Price Per Unit | $75,000 |
| Sale Type | Investment |
| Cap Rate | 8.33% |
| No. Units | 32 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 9.00 AC |
| Building Size | 23,501 SF |
| Average Occupancy | 84% |
| No. Stories | 2 |
| Year Built | 1976 |
| Zoning | C - Commercial |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Cable Ready
- Disposal
- Heating
- Kitchen
- Refrigerator
- Oven
- Range
SITE AMENITIES
- Courtyard
- Laundry Facilities
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 32 | - | 750 |
PROPERTY TAXES
| Parcel Number | 34-10-16-200-004.000-024 | Improvements Assessment | $908,000 |
| Land Assessment | $139,400 | Total Assessment | $1,047,400 |
