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Village Apartments of Summitville 1100 W Mill St 24 Unit Apartment Building $1,650,000 ($68,750/Unit) Summitville, IN 46070
Investment Highlights
- Stable Occupancy
- Low investment entry point
- Recent CapEx Improvements
Executive Summary
Well positioned property located in Summitville, IN, 30 minutes from both Anderson and Muncie, IN. Property was originally funded through USRD loan, the property was removed from the program in 2024. 7 original USDA tenants remain, those units will convert to market rate upon Tenant turnover. Current owner has deployed significant CapEx, including new roofs and siding, new windows, and renovation of approximately 75% of current units
Property Facts
| Price | $1,650,000 | Building Class | C |
| Price Per Unit | $68,750 | Lot Size | 1.41 AC |
| Sale Type | Investment | Building Size | 21,460 SF |
| No. Units | 24 | Average Occupancy | 92% |
| Property Type | Multifamily | No. Stories | 2 |
| Property Subtype | Apartment | Year Built | 1988 |
| Apartment Style | Low-Rise | ||
| Zoning | R3 | ||
| Price | $1,650,000 |
| Price Per Unit | $68,750 |
| Sale Type | Investment |
| No. Units | 24 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 1.41 AC |
| Building Size | 21,460 SF |
| Average Occupancy | 92% |
| No. Stories | 2 |
| Year Built | 1988 |
| Zoning | R3 |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 11 | - | 651 |
| 2+1 | 13 | - | 819 |
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Somewhat walkable
20/100
Very drivable
80/100
Somewhat bikeable
30/100
Property Taxes
| Parcel Number | 48-01-20-300-034.000-037 | Improvements Assessment | $540,700 |
| Land Assessment | $23,300 | Total Assessment | $564,000 |
Property Taxes
Parcel Number
48-01-20-300-034.000-037
Land Assessment
$23,300
Improvements Assessment
$540,700
Total Assessment
$564,000
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Village Apartments of Summitville | 1100 W Mill St