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Senior World 2305 S Rotherwood Ave 20 Unit Apartment Building $1,100,000 ($55,000/Unit) Evansville, IN 47714
Investment Highlights
- Project-Based Section 8 (HUD) Community offering stable, government-backed rental income supported by long-term affordable housing fundamentals
- Historically High Occupancy supported by strong demand for affordable housing
- Located Minutes from Major Healthcare Providers, including Deaconess Health System and Ascension St. Vincent Evansville
- Long-Term HAP Contract with approximately 12 years of remaining term
- Convenient Evansville East Side Location with immediate access to Interstate 69, major retail corridors, and everyday amenities
Executive Summary
Senior World is a 20-unit affordable housing community offering investors stable, government-backed cash flow through a long-term Project-Based Section 8 (HUD) Housing Assistance Payments (HAP) contract with approximately 12 years remaining. Built in 1983, the property features an efficient unit mix of twenty one-bedroom, one-bathroom apartments averaging approximately 566 square feet, providing an easy-to-manage asset with predictable revenue, historically high occupancy, and reliable collections supported by 100% project-based rental assistance.
Ideally located on the east side of Evansville, Senior World offers convenient access to Interstate 69, major retail corridors, healthcare providers including Deaconess Health System and Ascension St. Vincent Evansville, and a diverse employment base anchored by employers such as Toyota Motor Manufacturing Indiana, Berry Global, and the University of Evansville. As the economic center of the Tri-State region, Evansville continues to benefit from strong demand for affordable housing, while the property presents an opportunity for operational efficiencies through strategic expense management under new ownership, supported by resilient occupancy and long-term affordable housing fundamentals.
Ideally located on the east side of Evansville, Senior World offers convenient access to Interstate 69, major retail corridors, healthcare providers including Deaconess Health System and Ascension St. Vincent Evansville, and a diverse employment base anchored by employers such as Toyota Motor Manufacturing Indiana, Berry Global, and the University of Evansville. As the economic center of the Tri-State region, Evansville continues to benefit from strong demand for affordable housing, while the property presents an opportunity for operational efficiencies through strategic expense management under new ownership, supported by resilient occupancy and long-term affordable housing fundamentals.
Property Facts
| Price | $1,100,000 | Building Class | C |
| Price Per Unit | $55,000 | Lot Size | 0.49 AC |
| Sale Type | Investment | Building Size | 14,752 SF |
| No. Units | 20 | Average Occupancy | 100% |
| Property Type | Multifamily | No. Stories | 2 |
| Property Subtype | Apartment | Year Built | 1983 |
| Apartment Style | Low-Rise | ||
| Zoning | C1 | ||
| Price | $1,100,000 |
| Price Per Unit | $55,000 |
| Sale Type | Investment |
| No. Units | 20 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.49 AC |
| Building Size | 14,752 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1983 |
| Zoning | C1 |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 20 | - | 566 |
1 1
Fairly walkable
40/100
Exceptionally drivable
90/100
Somewhat bikeable
30/100
Property Taxes
| Parcel Number | 82-09-04-014-122.095-027 | Improvements Assessment | $485,600 |
| Land Assessment | $24,300 | Total Assessment | $509,900 |
Property Taxes
Parcel Number
82-09-04-014-122.095-027
Land Assessment
$24,300
Improvements Assessment
$485,600
Total Assessment
$509,900
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Senior World | 2305 S Rotherwood Ave
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