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Benchmark lll Apartments 421-439 S Chauncey Ave 10 Unit Apartment Building $4,395,000 ($439,500/Unit) West Lafayette, IN 47906
INVESTMENT HIGHLIGHTS
- Walking distance to campus
- Student Housing
EXECUTIVE SUMMARY
The Marquis Group of KW Commercial Lafayette is pleased to present this multifamily investment opportunity located near Purdue University's West Lafayette campus. 421-439 S Chauncey Avenue offers a prime location for Purdue University students, featuring well-maintained apartments with a variety of floor plans and convenient amenities.
This property features a mix of (9) 4BR/2.5BA and (1) 2BR/1.5BA apartments for a total of 38 bedrooms. Benchmark III Apartments are located on the southeast side of Purdue's West Lafayette campus, near the College of Veterinary Medicine and approximately four blocks from the Purdue Memorial Union as well as Krannert School of Management and Rawls Hall. Chauncey Hill is also a short walk (restaurants, Target and other shopping locations).
Key Features:
Prime Location: Situated near Purdue University, making it ideal for students.
Walkable: Very walkable, allowing easy access to campus and surrounding amenities.
Close to Amenities - Near campus, dining options, and sporting events.
Off-Street Parking
On-site laundry facilities
This building is master leased to Purdue University for the current year and the next 2 school years with 5% annual increases.
This property features a mix of (9) 4BR/2.5BA and (1) 2BR/1.5BA apartments for a total of 38 bedrooms. Benchmark III Apartments are located on the southeast side of Purdue's West Lafayette campus, near the College of Veterinary Medicine and approximately four blocks from the Purdue Memorial Union as well as Krannert School of Management and Rawls Hall. Chauncey Hill is also a short walk (restaurants, Target and other shopping locations).
Key Features:
Prime Location: Situated near Purdue University, making it ideal for students.
Walkable: Very walkable, allowing easy access to campus and surrounding amenities.
Close to Amenities - Near campus, dining options, and sporting events.
Off-Street Parking
On-site laundry facilities
This building is master leased to Purdue University for the current year and the next 2 school years with 5% annual increases.
FINANCIAL SUMMARY (ACTUAL - 2024) Click Here to Access |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| 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 - 2024) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| 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
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Dishwasher
- Microwave
- Storage Space
- Washer/Dryer
- Heating
- Ice Maker
- Refrigerator
- Range
- Carpet
- Patio
SITE AMENITIES
- Maintenance on site
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 2+1.5 | 1 | - | 955 |
| 4+2.5 | 9 | - | 1,538 |
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PROPERTY TAXES
| Parcel Number | 79-07-19-480-009.000-026 | Total Assessment | $2,612,000 |
| Land Assessment | $2,126,900 | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $485,100 | Tax Year | 2024 Payable 2025 |
PROPERTY TAXES
Parcel Number
79-07-19-480-009.000-026
Land Assessment
$2,126,900
Improvements Assessment
$485,100
Total Assessment
$2,612,000
Annual Taxes
($1) ($0.00/SF)
Tax Year
2024 Payable 2025
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Benchmark lll Apartments | 421-439 S Chauncey Ave
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