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401 N Salisbury St 10 Unit Apartment Building $900,000 ($90,000/Unit) West Lafayette, IN 47906
INVESTMENT HIGHLIGHTS
- Prime location near Purdue University
- 10 bedrooms / 7 bathrooms /3 full kitchens
- Fully leased with upside—under market rent
- Approved occupancy for 13 unrelated individuals
- Central air conditioning, on-site washer and dryer
- Excellent candidate for value-add improvements and increased cash flow
EXECUTIVE SUMMARY
Rare opportunity just blocks from Purdue University to acquire a high-occupancy student rental with an approved allowance of 13 unrelated occupants. 401 North Salisbury Street offers a scale and location that are extremely hard to find in today’s market—perfect for both seasoned and first-time student housing investors.
This 10-bedroom property is currently configured with 3 full kitchens, 7 bathrooms, central air conditioning, and 1 washer and dryer, providing ample space and functionality for large groups. The property is fully leased and operating below market rents, creating a clear value-add investment opportunity through strategic rent increases, cosmetic upgrades, or amenity enhancements.
Located in the heart of Purdue’s campus community, 401 North Salisbury Street sits just three blocks from Purdue University, at the corner of Salisbury and Fowler. This means most students can walk to core academic buildings, lecture halls, libraries, and labs in just a few minutes, making it an ideal home base for busy class schedules and group projects.
The property is surrounded by a classic near-campus neighborhood—a mix of student houses, small apartment buildings, and campus ministries—giving it a true college-town feel. Residents are within easy reach of Chauncey Village, dining, coffee shops, and everyday conveniences, as well as nearby bus stops that connect to the rest of West Lafayette. It’s a location that consistently appeals to Purdue students: close enough to walk to class yet set within an established residential area that feels more like a neighborhood than a high-rise district.
*Note the tenants need 24hrs notice before showings
This 10-bedroom property is currently configured with 3 full kitchens, 7 bathrooms, central air conditioning, and 1 washer and dryer, providing ample space and functionality for large groups. The property is fully leased and operating below market rents, creating a clear value-add investment opportunity through strategic rent increases, cosmetic upgrades, or amenity enhancements.
Located in the heart of Purdue’s campus community, 401 North Salisbury Street sits just three blocks from Purdue University, at the corner of Salisbury and Fowler. This means most students can walk to core academic buildings, lecture halls, libraries, and labs in just a few minutes, making it an ideal home base for busy class schedules and group projects.
The property is surrounded by a classic near-campus neighborhood—a mix of student houses, small apartment buildings, and campus ministries—giving it a true college-town feel. Residents are within easy reach of Chauncey Village, dining, coffee shops, and everyday conveniences, as well as nearby bus stops that connect to the rest of West Lafayette. It’s a location that consistently appeals to Purdue students: close enough to walk to class yet set within an established residential area that feels more like a neighborhood than a high-rise district.
*Note the tenants need 24hrs notice before showings
PROPERTY FACTS
| Price | $900,000 | Building Class | C |
| Price Per Unit | $90,000 | Lot Size | 0.16 AC |
| Sale Type | Investment | Building Size | 5,349 SF |
| No. Units | 10 | No. Stories | 3 |
| Property Type | Multifamily | Year Built/Renovated | 1900/2005 |
| Property Subtype | Apartment | Parking Ratio | 1.12/1,000 SF |
| Apartment Style | Low-Rise | ||
| Zoning | Central & Wall | ||
| Price | $900,000 |
| Price Per Unit | $90,000 |
| Sale Type | Investment |
| No. Units | 10 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.16 AC |
| Building Size | 5,349 SF |
| No. Stories | 3 |
| Year Built/Renovated | 1900/2005 |
| Parking Ratio | 1.12/1,000 SF |
| Zoning | Central & Wall |
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Walk Score®
Very Walkable (70)
Bike Score®
Very Bikeable (74)
PROPERTY TAXES
| Parcel Number | 79-07-19-232-007.000-026 | Improvements Assessment | $202,600 |
| Land Assessment | $61,000 | Total Assessment | $263,600 |
PROPERTY TAXES
Parcel Number
79-07-19-232-007.000-026
Land Assessment
$61,000
Improvements Assessment
$202,600
Total Assessment
$263,600
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401 N Salisbury St
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