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College Square Apartments 352 College Ave 12 Unit Apartment Building $1,997,500 ($166,458/Unit) 7.99% Cap Rate Valparaiso, IN 46383
EXECUTIVE SUMMARY
Ellsbury Group is pleased to present College Square Apartments, located at 352-356 College Ave, Valparaiso, IN, consists of two 6-unit buildings totaling 12 spacious 4-bed/2-bath units averaging 1,400 sq ft each. Built in 1991 and totaling 16,800 sq ft on a 28,314 sq ft lot, the property has seen 11 of 12 units renovated within the past two years. Each unit features individual furnaces, AC units, and water heaters, with on-site coin laundry available. Situated within walking distance of Valparaiso University, this well-maintained property offers a strong investment opportunity at $1,997,500 in Porter County.
FINANCIAL SUMMARY (ACTUAL - 2024) Click Here to Access |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
-
|
-
|
| 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 - 2024) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| 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 Under Contract
| Price | $1,997,500 | Apartment Style | Low-Rise |
| Price Per Unit | $166,458 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.65 AC |
| Cap Rate | 7.99% | Building Size | 16,848 SF |
| No. Units | 12 | No. Stories | 3 |
| Property Type | Multifamily | Year Built | 1991 |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Price | $1,997,500 |
| Price Per Unit | $166,458 |
| Sale Type | Investment |
| Cap Rate | 7.99% |
| No. Units | 12 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.65 AC |
| Building Size | 16,848 SF |
| No. Stories | 3 |
| Year Built | 1991 |
| Opportunity Zone |
Yes |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Heating
- Kitchen
- Refrigerator
- Oven
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| Studios | 12 | - | - |
1 1
Walk Score®
Very Walkable (74)
PROPERTY TAXES
| Parcel Number | 64-09-24-460-008.000-004 | Improvements Assessment | $1,221,100 |
| Land Assessment | $151,000 | Total Assessment | $1,372,100 |
PROPERTY TAXES
Parcel Number
64-09-24-460-008.000-004
Land Assessment
$151,000
Improvements Assessment
$1,221,100
Total Assessment
$1,372,100
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College Square Apartments | 352 College Ave
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