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Elston Point 374 Elston Rd 44 Unit Apartment Building For Sale Lafayette, IN 47909
Investment Highlights
- 6.8% in-place cap rate
- Ability to grow to a 7.3% cap rate upon completion of upgrades
- Well maintained and thoughtfully updated by current ownership
- Upgrade 32 partially renovated units - $112 avg. rent premium
- Mid-90% occupancy has been maintained with minimal bad debt
Property Facts
| Sale Type | Investment | Lot Size | 2.71 AC |
| No. Units | 44 | Building Size | 31,634 SF |
| Property Type | Multifamily | Average Occupancy | 93% |
| Property Subtype | Apartment | No. Stories | 2 |
| Apartment Style | Low-Rise | Year Built | 1996 |
| Building Class | B | Parking Ratio | 2.12/1,000 SF |
| Zoning | R-3 | ||
| Sale Type | Investment |
| No. Units | 44 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | B |
| Lot Size | 2.71 AC |
| Building Size | 31,634 SF |
| Average Occupancy | 93% |
| No. Stories | 2 |
| Year Built | 1996 |
| Parking Ratio | 2.12/1,000 SF |
| Zoning | R-3 |
Amenities
Unit Amenities
- Air Conditioning
- Balcony
- Dishwasher
- Disposal
- Microwave
- Washer/Dryer
- Refrigerator
- Wheelchair Accessible (Rooms)
Site Amenities
- 24 Hour Access
- Controlled Access
- Tenant Controlled HVAC
- Renters Insurance Program
- Hearing Impaired Accessible
- Maintenance on site
- Online Services
- Vision Impaired Accessible
- Public Transportation
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 20 | - | 547 |
| 2+1 | 24 | - | 851 |
Fairly walkable
40/100
Exceptionally drivable
100/100
Limited public transit
30/100
Fairly bikeable
50/100
Property Taxes
| Parcel Numbers | Improvements Assessment | $2,148,300 | |
| Land Assessment | $214,100 | Total Assessment | $2,362,400 |
Property Taxes
Parcel Numbers
Land Assessment
$214,100
Improvements Assessment
$2,148,300
Total Assessment
$2,362,400
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