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Franklin Place Apartments 117 Franklin Pl 8 Unit Apartment Building $800,000 ($100,000/Unit) 8.03% Cap Rate South Bend, IN 46601
Executive Summary
Fully occupied 8-unit building located in the heart of South Bend, Indiana. This well-maintained property features long-term tenants, strong rental history, and is situated in a beautiful, historic neighborhood. Truly a turnkey investment with steady cash flow—an excellent opportunity for investors looking for a proven moneymaker with upside potential.
Data Room Click Here to Access
- Offering Memorandum
- Operating and Financials
Financial Summary (Actual - 2025) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
-
|
-
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
-
|
-
|
Financial Summary (Actual - 2025) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
Property Facts
| Price | $800,000 | Apartment Style | Low-Rise |
| Price Per Unit | $100,000 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.15 AC |
| Cap Rate | 8.03% | Building Size | 5,552 SF |
| Gross Rent Multiplier | 10.15 | No. Stories | 2 |
| No. Units | 8 | Year Built | 1920 |
| Property Type | Multifamily | Parking Ratio | 1.44/1,000 SF |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Zoning | MU - Mixed Use | ||
| Price | $800,000 |
| Price Per Unit | $100,000 |
| Sale Type | Investment |
| Cap Rate | 8.03% |
| Gross Rent Multiplier | 10.15 |
| No. Units | 8 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.15 AC |
| Building Size | 5,552 SF |
| No. Stories | 2 |
| Year Built | 1920 |
| Parking Ratio | 1.44/1,000 SF |
| Opportunity Zone |
Yes |
| Zoning | MU - Mixed Use |
Amenities
Unit Amenities
- Kitchen
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 8 | - | - |
1 1
Walk Score®
Very Walkable (85)
Bike Score®
Biker's Paradise (90)
Property Taxes
| Parcel Number | 71-08-11-281-011.000-026 | Improvements Assessment | $181,400 (2024) |
| Land Assessment | $7,500 (2024) | Total Assessment | $188,900 (2024) |
Property Taxes
Parcel Number
71-08-11-281-011.000-026
Land Assessment
$7,500 (2024)
Improvements Assessment
$181,400 (2024)
Total Assessment
$188,900 (2024)
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Franklin Place Apartments | 117 Franklin Pl
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