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The Hallie 217 Pierce St 11 Unit Apartment Building $2,750,000 ($250,000/Unit) West Lafayette, IN 47906
INVESTMENT HIGHLIGHTS
- Close to campus
- Strong year over year rental rates
- Near redevelopment
EXECUTIVE SUMMARY
The Marquis Group of KW Commercial Lafayette is pleased to present this multifamily investment opportunity located near Purdue University's West Lafayette campus. 217 Pierce Street offers a prime location for Purdue University students, featuring well-maintained apartments with a variety of floor plans and convenient amenities.
This property features a mix of (10) 2BR/2BA and (1) 1BR/1BA apartments for a total of 21 bedrooms. The Hallie Apartments are located on the southeast side of Purdue's West Lafayette campus, near the College of Veterinary Medicine and approximately 2 blocks from the Purdue Memorial Union as well as Krannert School of Management and Rawls Hall. Historic Chauncey Hill is also a short walk (restaurants, Target and other shopping locations).
Key Features:
Prime Location: Situated near Purdue University, making it ideal for students.
Walkable: Very walkable, allowing easy access to campus and surrounding amenities.
Close to Amenities - Near campus, dining options, and sporting events.
Off-Street Parking
On-site laundry facilities
2026/27 rents are trending to be up 6.5% YOY
This property features a mix of (10) 2BR/2BA and (1) 1BR/1BA apartments for a total of 21 bedrooms. The Hallie Apartments are located on the southeast side of Purdue's West Lafayette campus, near the College of Veterinary Medicine and approximately 2 blocks from the Purdue Memorial Union as well as Krannert School of Management and Rawls Hall. Historic Chauncey Hill is also a short walk (restaurants, Target and other shopping locations).
Key Features:
Prime Location: Situated near Purdue University, making it ideal for students.
Walkable: Very walkable, allowing easy access to campus and surrounding amenities.
Close to Amenities - Near campus, dining options, and sporting events.
Off-Street Parking
On-site laundry facilities
2026/27 rents are trending to be up 6.5% YOY
FINANCIAL SUMMARY (ACTUAL - 2024) 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 (ACTUAL - 2024) 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
| Price | $2,750,000 | Building Class | C |
| Price Per Unit | $250,000 | Lot Size | 0.22 AC |
| Sale Type | Investment | Building Size | 11,008 SF |
| No. Units | 11 | Average Occupancy | 100% |
| Property Type | Multifamily | No. Stories | 3 |
| Property Subtype | Apartment | Year Built | 1985 |
| Apartment Style | Low-Rise | Parking Ratio | 1.54/1,000 SF |
| Zoning | R3W - Residential Multi family West Lafayette | ||
| Price | $2,750,000 |
| Price Per Unit | $250,000 |
| Sale Type | Investment |
| No. Units | 11 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.22 AC |
| Building Size | 11,008 SF |
| Average Occupancy | 100% |
| No. Stories | 3 |
| Year Built | 1985 |
| Parking Ratio | 1.54/1,000 SF |
| Zoning | R3W - Residential Multi family West Lafayette |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Microwave
- Kitchen
- Refrigerator
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 1 | - | - |
| 2+1 | 10 | - | 650 |
1 1
Walk Score®
Very Walkable (86)
Bike Score®
Very Bikeable (79)
PROPERTY TAXES
| Parcel Number | 79-07-19-430-006.000-026 | Total Assessment | $1,274,200 |
| Land Assessment | $0 | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $1,274,200 | Tax Year | 2024 Payable 2025 |
PROPERTY TAXES
Parcel Number
79-07-19-430-006.000-026
Land Assessment
$0
Improvements Assessment
$1,274,200
Total Assessment
$1,274,200
Annual Taxes
($1) ($0.00/SF)
Tax Year
2024 Payable 2025
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The Hallie | 217 Pierce St
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