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1354 S Talbott St 9 Unit Apartment Building $2,100,000 ($233,333/Unit) 5.90% Cap Rate Indianapolis, IN 46225
INVESTMENT HIGHLIGHTS
- Townhome Construction
- Off Street Paved Parking
- Community Green Space
- Less Than 1 Mile to Downtown Indianapolis
- 100% Occupancy
EXECUTIVE SUMMARY
Gardner Property Group exclusively presents Old Southside Townhomes portfolio. The portfolio is comprised of two sites of identical construction with 11 two bed units and 5 three bed units. Current ownership has spent over $400,000 in capital improvements since acquisition including full interior renovations, HVAC replacements, and a new roof on Talbott St. The property’s close proximity to Downtown Indianapolis and easy access to I-70 has helped establish and maintain a low historical vacancy. The newer vintage provides a low operating expense ratio. Few quality multifamily housing is available in this part of Indianapolis making Old Southside Townhomes a coveted living experience! Available for sale as a package with 236 Wisconsin St.
DATA ROOM Click Here to Access
PROPERTY FACTS
| Price | $2,100,000 | Apartment Style | Townhome |
| Price Per Unit | $233,333 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.36 AC |
| Cap Rate | 5.90% | Building Size | 9,054 SF |
| Sale Condition | 1031 Exchange | Average Occupancy | 100% |
| No. Units | 9 | No. Stories | 2 |
| Property Type | Multifamily | Year Built/Renovated | 1997/2022 |
| Property Subtype | Apartment | ||
| Zoning | D8 | ||
| Price | $2,100,000 |
| Price Per Unit | $233,333 |
| Sale Type | Investment |
| Cap Rate | 5.90% |
| Sale Condition | 1031 Exchange |
| No. Units | 9 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Townhome |
| Building Class | C |
| Lot Size | 0.36 AC |
| Building Size | 9,054 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built/Renovated | 1997/2022 |
| Zoning | D8 |
AMENITIES
- Smoke Detector
UNIT AMENITIES
- Air Conditioning
- Dishwasher
- Disposal
- Washer/Dryer
- Tile Floors
- Granite Countertops
- Refrigerator
- Range
- Carpet
- Vinyl Flooring
SITE AMENITIES
- Picnic Area
- Pet Play Area
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 2+1 | 7 | $1,350 | 960 |
| 3+1.5 | 2 | $1,559 | 1,167 |
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PROPERTY TAXES
| Parcel Number | 49-11-13-146-102.000-101 | Improvements Assessment | $397,700 |
| Land Assessment | $39,200 | Total Assessment | $436,900 |
PROPERTY TAXES
Parcel Number
49-11-13-146-102.000-101
Land Assessment
$39,200
Improvements Assessment
$397,700
Total Assessment
$436,900
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1354 S Talbott St
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