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315 10th St 6 Unit Apartment Building $485,000 ($80,833/Unit) 10.36% Cap Rate Tell City, IN 47586
Investment Highlights
- Central Tell City location near civic and retail uses
- Convenient access to local services and amenities
- Suitable for a range of commercial use concepts
- Integrated within established neighborhood fabric
- Positioned in a stable, business-friendly market
Executive Summary
A fantastic opportunity to own 3 duplexes in Tell City, IN. The property has been updated over the years, and well maintain. A new roof was recently installed on one of the duplexes. All units are occupied, except for 1. Tenants pay/reimburse utilities. Many tenants have been long term tenants.
Each unit is 2 bedroom and 1 bathroom. Newer flooring has been installed over the years, as well as updates to the kitchens and bathrooms. When fully rented, the Gross income of this property is $4,750 monthly, and $57,000 yearly. Routine expenses including taxes, insurance, lawn care and pest control run approximately $6,750 per year. Giving this property approximately a 10% cap rate. This property is a great opportunity for those looking to get into the multifamily business or those looking to expand their portfolio.
Each unit is 2 bedroom and 1 bathroom. Newer flooring has been installed over the years, as well as updates to the kitchens and bathrooms. When fully rented, the Gross income of this property is $4,750 monthly, and $57,000 yearly. Routine expenses including taxes, insurance, lawn care and pest control run approximately $6,750 per year. Giving this property approximately a 10% cap rate. This property is a great opportunity for those looking to get into the multifamily business or those looking to expand their portfolio.
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 |
-
|
-
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
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 | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | $485,000 | Property Subtype | Apartment |
| Price Per Unit | $80,833 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.51 AC |
| Cap Rate | 10.36% | Building Size | 6,160 SF |
| No. Units | 6 | No. Stories | 1 |
| Property Type | Multifamily | Year Built | 1966 |
| Price | $485,000 |
| Price Per Unit | $80,833 |
| Sale Type | Investment |
| Cap Rate | 10.36% |
| No. Units | 6 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Building Class | C |
| Lot Size | 0.51 AC |
| Building Size | 6,160 SF |
| No. Stories | 1 |
| Year Built | 1966 |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 6 | - | - |
1 1
Fairly walkable
40/100
Exceptionally drivable
100/100
Fairly bikeable
40/100
Property Taxes
| Parcel Number | 62-13-32-082-308.006-007 | Improvements Assessment | $119,600 |
| Land Assessment | $36,000 | Total Assessment | $155,600 |
Property Taxes
Parcel Number
62-13-32-082-308.006-007
Land Assessment
$36,000
Improvements Assessment
$119,600
Total Assessment
$155,600
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Lopp Commercial Brokers
315 10th St
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