4808 Old Tyme Court
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4808 Old Tyme Court
18 Unit Apartment Building $6,500,000 ($361,111/Unit) 6.97% Cap Rate Evansville, IN 47711
Investment Highlights
- New construction with brick exterior and high-end finishes
- Close to shopping and dining options
- Close to airport
- High-end clientele with established corporate relationships
- Easy access to I-69 and major roadways
Executive Summary
The Flats at Keystone offers a premier short-term condominium rental experience in Evansville, designed for professionals seeking both short-term and extended stay options in the Evansville Metro area. Each unit is fully furnished, merging the convenience of a luxury hotel with the comfort and privacy of a home.
The interiors feature upscale decor, including gourmet kitchens, luxury bedding, and elegantly appointed master bathrooms. Guests also enjoy complimentary access to Evansville's leading fitness and wellness facility, enhancing their stay with high-quality amenities and lifestyle services.
The Flats at Keystone are located in a residential area on the north side of Evansville close to the commercial district, with numerous shopping and dining options. Constructed in 2024, the property consists of 18 condominium units with 2 floorplans - The Belfry, with 2 bedrooms and 1 bath, and The Belvedere with 2 beds, 2 baths and an attached 1 car garage.
Management is in place and agreeable to working with a new owner. Seller offers 90 days of transition assistance.
The interiors feature upscale decor, including gourmet kitchens, luxury bedding, and elegantly appointed master bathrooms. Guests also enjoy complimentary access to Evansville's leading fitness and wellness facility, enhancing their stay with high-quality amenities and lifestyle services.
The Flats at Keystone are located in a residential area on the north side of Evansville close to the commercial district, with numerous shopping and dining options. Constructed in 2024, the property consists of 18 condominium units with 2 floorplans - The Belfry, with 2 bedrooms and 1 bath, and The Belvedere with 2 beds, 2 baths and an attached 1 car garage.
Management is in place and agreeable to working with a new owner. Seller offers 90 days of transition assistance.
Property Facts
| Price | $6,500,000 | Apartment Style | Low Rise |
| Price Per Unit | $361,111 | Building Class | B |
| Sale Type | Investment | Lot Size | 1.63 AC |
| Cap Rate | 6.97% | Building Size | 17,340 SF |
| No. Units | 18 | Average Occupancy | 94% |
| Property Type | Multifamily | No. Stories | 1 |
| Property Subtype | Apartment | Year Built | 2023 |
| Price | $6,500,000 |
| Price Per Unit | $361,111 |
| Sale Type | Investment |
| Cap Rate | 6.97% |
| No. Units | 18 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | B |
| Lot Size | 1.63 AC |
| Building Size | 17,340 SF |
| Average Occupancy | 94% |
| No. Stories | 1 |
| Year Built | 2023 |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 12 | - | 785 |
| 2+2 | 6 | - | 1,320 |
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PROPERTY TAXES
| Parcel Number | 82-06-02-002-151.031-019 | Improvements Assessment | $0 |
| Land Assessment | $3,100 | Total Assessment | $3,100 |
PROPERTY TAXES
Parcel Number
82-06-02-002-151.031-019
Land Assessment
$3,100
Improvements Assessment
$0
Total Assessment
$3,100
zoning
| Zoning Code | C-2 |
| C-2 |
-
Scott Edmond -
NAI Prime Commercial
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4808 Old Tyme Court
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