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The Mint Apartments 2505 E 10th St 36 Unit Apartment Building $3,198,000 ($88,833/Unit) 8.04% Cap Rate Anderson, IN 46012
Investment Highlights
- 2505 E 10th Street, also known as The Mint Apartments, a two-story, 36-unit apartment building, spans 35,824 square feet on a 2.32-acre parcel.
- Stable, hands-off investment opportunity to acquire a cash-flowing, 100% occupied MFR asset that underwent a full remodel four years ago.
- Anderson is about 35 miles northeast of Indianapolis along I-69, giving residents a genuine small-city feel with easy access to a major metro.
- Located on the corner of East 10th Street and Lennox, The Mint Apartments are nestled in one of Anderson's finest residential neighborhoods.
- Ownership’s recent CapEx injection went into brand-new flooring, kitchens, appliances, bathrooms, and bedrooms throughout each unit.
- Less than 2 miles from Anderson University, a private university contributing to local renters' demand in the immediate area for students and staff.
Executive Summary
Investors alike are welcomed to the opportunity to acquire a 36-unit, fully occupied apartment building in the heart of Anderson, Indiana, that generates stable cash flow and long-term ROI.
The Mint Apartments offer nine one-bedroom/one-bathroom units averaging 784 square feet, and 27 two-bedroom/one-bathroom units averaging 852 square feet. The garden-style complex features an on-site laundry facility, a grassy courtyard, over 40 paved parking spaces, a pet play area, and a picnic area.
The complex has three shopping centers within 0.8 miles, which is about a 15-minute walk. The closest park, Mounds State Park, is 3.6 miles (8 minutes) away, and St. Vincent Anderson Regional Hospital is 3.4 miles away and is convenient to other hospitals, including Community Hospital of Anderson and Madison County.
The Mint Apartment’s 10-mile demographics indicate there are over 44,600 households in the 10-mile radius, expected to increase by 0.6% by 2030. Average household incomes are just shy of $80,000, and each year the realm generates more than $1.2 billion in consumer spending power.
Approximately 34% of households are renter-occupied, and 36% are one- and two-person occupied, signifying demand for small rental units in the immediate area.
Don’t miss the opportunity to acquire this stabilized housing asset with recent renovations, providing streamlined rental income.
The Mint Apartments offer nine one-bedroom/one-bathroom units averaging 784 square feet, and 27 two-bedroom/one-bathroom units averaging 852 square feet. The garden-style complex features an on-site laundry facility, a grassy courtyard, over 40 paved parking spaces, a pet play area, and a picnic area.
The complex has three shopping centers within 0.8 miles, which is about a 15-minute walk. The closest park, Mounds State Park, is 3.6 miles (8 minutes) away, and St. Vincent Anderson Regional Hospital is 3.4 miles away and is convenient to other hospitals, including Community Hospital of Anderson and Madison County.
The Mint Apartment’s 10-mile demographics indicate there are over 44,600 households in the 10-mile radius, expected to increase by 0.6% by 2030. Average household incomes are just shy of $80,000, and each year the realm generates more than $1.2 billion in consumer spending power.
Approximately 34% of households are renter-occupied, and 36% are one- and two-person occupied, signifying demand for small rental units in the immediate area.
Don’t miss the opportunity to acquire this stabilized housing asset with recent renovations, providing streamlined rental income.
Financial Summary (Actual - 2026) 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 |
$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 - 2026) 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 | $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 | $3,198,000 | Apartment Style | Garden |
| Price Per Unit | $88,833 | Building Class | C |
| Sale Type | Investment | Lot Size | 2.32 AC |
| Cap Rate | 8.04% | Building Size | 35,824 SF |
| Sale Condition | 1031 Exchange | Average Occupancy | 100% |
| No. Units | 36 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1966 |
| Property Subtype | Apartment | Parking Ratio | 1.36/1,000 SF |
| Zoning | B-3 - Business | ||
| Price | $3,198,000 |
| Price Per Unit | $88,833 |
| Sale Type | Investment |
| Cap Rate | 8.04% |
| Sale Condition | 1031 Exchange |
| No. Units | 36 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 2.32 AC |
| Building Size | 35,824 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1966 |
| Parking Ratio | 1.36/1,000 SF |
| Zoning | B-3 - Business |
Amenities
Unit Amenities
- Air Conditioning
- Balcony
- Heating
- Kitchen
- Refrigerator
- Oven
- Range
- Carpet
- Patio
- Vinyl Flooring
Site Amenities
- Courtyard
- Laundry Facilities
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 9 | $850.00 | 784 |
| 2+1 | 27 | $950.00 | 852 |
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Fairly walkable
50/100
Very drivable
80/100
Moderately bikeable
70/100
Property Taxes
| Parcel Number | 48-12-17-200-003.000-003 | Total Assessment | $900,200 (2025) |
| Land Assessment | $116,000 (2025) | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $784,200 (2025) | Tax Year | 2026 |
Property Taxes
Parcel Number
48-12-17-200-003.000-003
Land Assessment
$116,000 (2025)
Improvements Assessment
$784,200 (2025)
Total Assessment
$900,200 (2025)
Annual Taxes
($1) ($0.00/SF)
Tax Year
2026
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The Mint Apartments | 2505 E 10th St