Fairmont Apartments consists of (80) one-bedroom/ one-bath units and (32) two-bedroom/ one-bath units. The 112 unit complex sits on 4.08 acres and was built in 1966. In the last three years, the property has gone through a plethora of capital improvements including: updated entryways, updated floors, remodeled full kitchens, new appliances, new windows, replaced all toilets, some new air-conditioning units, plumbing updates, and new roofs on 12 buildings.
Evansville encompasses five unique cultural districts. Fairmont Apartments are part of the University of Evansville and Neighborhoods District of Evansville. Residents have access to shopping, entertainment, hospitals, restaurants, and schools including; Eastland Mall, Evansville State Hospital, University of Evansville, Washington Square Mall, and William Henry Harrison High School. The Lloyd Express Way and I-69, major thoroughfare in Evansville, are in close proximity.
Evansville was ranked "2nd Most Affordable City" in the US in 2016 by Niche.com and reported by Inside Indiana Business. The city's growing population of 121,582 is surrounded by a current metropolitan population of 342,815. Evansville benefits from a great location; less than a three hour drive from St. Louis Missouri, Indianapolis Indiana, Nashville Tennessee, and Louisville Kentucky. The city is home to both the University of Evansville and the University of Southern Indiana which have a combined enrollment of nearly 14,000. Almost half of the city's housing market is made up of rentals.
Fairmont Apartments represents an excellent opportunity for an investor to purchase a high quality asset in the stable Evansville apartment market.
