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Highland Terrace Apartments 1010-1028 S 14th St 24 Unit Apartment Building $1,799,000 ($74,958/Unit) New Castle, IN 47362
INVESTMENT HIGHLIGHTS
- 24 Unit Building
- Mixed unit size from Studio, 1BR, 2BR, & 3BR
- Tenant Parking
- Updates available
- Close proximity to Indianapolis
EXECUTIVE SUMMARY
Prime Investment Opportunity in New Castle, IN – 24-Unit Multifamily Complex Near Indianapolis
Introducing a fully renovated 24-unit multifamily apartment building in the thriving New Castle market, just 45 minutes from downtown Indianapolis. This two-story property has undergone extensive upgrades totaling over $150,000–$200,000, enhancing both unit interiors and building infrastructure.
Unit Mix:
2 Studio Units
17 One-Bedroom, One-Bath Units
3 Two-Bedroom, One-Bath Units
2 Three-Bedroom, One-Bath Units
With a diverse unit mix, this property appeals to a wide range of tenants—from singles and couples to small families. The building is professionally maintained and offers strong rental upside in a market experiencing 4.2% annual appreciation.
Financing may be available with a strong offer and DP!
Introducing a fully renovated 24-unit multifamily apartment building in the thriving New Castle market, just 45 minutes from downtown Indianapolis. This two-story property has undergone extensive upgrades totaling over $150,000–$200,000, enhancing both unit interiors and building infrastructure.
Unit Mix:
2 Studio Units
17 One-Bedroom, One-Bath Units
3 Two-Bedroom, One-Bath Units
2 Three-Bedroom, One-Bath Units
With a diverse unit mix, this property appeals to a wide range of tenants—from singles and couples to small families. The building is professionally maintained and offers strong rental upside in a market experiencing 4.2% annual appreciation.
Financing may be available with a strong offer and DP!
DATA ROOM Click Here to Access
- Operating and Financials
FINANCIAL SUMMARY (PRO FORMA - 2025) Click Here to Access |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
FINANCIAL SUMMARY (PRO FORMA - 2025) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
PROPERTY FACTS
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Refrigerator
- Oven
- Range
SITE AMENITIES
- 24 Hour Access
- Walk-Up
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| Studios | 2 | $610.00 | 600 |
| 1+1 | 17 | $770.00 | - |
| 3+1 | 2 | $1,000 | - |
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PROPERTY TAXES
| Parcel Number | 33-12-15-420-329.000-016 | Total Assessment | $890,100 (2024) |
| Land Assessment | $60,500 (2024) | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $829,600 (2024) | Tax Year | 2025 Payable 2026 |
PROPERTY TAXES
Parcel Number
33-12-15-420-329.000-016
Land Assessment
$60,500 (2024)
Improvements Assessment
$829,600 (2024)
Total Assessment
$890,100 (2024)
Annual Taxes
($1) ($0.00/SF)
Tax Year
2025 Payable 2026
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Highland Terrace Apartments | 1010-1028 S 14th St
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