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Providence Row 600-638 Francis Ave 20 Unit Apartment Building $1,850,000 ($92,500/Unit) 6.97% Cap Rate Clarksville, IN 47129
Investment Highlights
- Unit Sell-Out Option
- Duplex Subdivision
- Turn-Key Opportunity
Executive Summary
VWREA is pleased to offer Providence Row Apartments in cooperation with Bass Group Real Estate, an offering of 20-units in Clarksville, IN. The unit mix consists of (20) 2-bedroom apartment units over the span of (10) duplex buildings.
Southern Indiana Economic Development
The Southern Indiana–Louisville MSA has experienced a surge of economic activity in recent years, fueled by major industrial expansions, infrastructure investment, and continued population growth on the Indiana side of the river. This momentum has strengthened regional employers, attracted new businesses, and supported demand for quality rental housing. the market’s long-term upward trajectory.
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Key City Initiatives
• CanadianSolar, building a solar cell plant to create 1,200 jobs
• Jeffboat redevelopment, a $1bn plan to redevelop 100-acre riverfront
• $33mm natatorium in planning by the city
River Ridge Overview
Located 15 minutes from River Ridge, a 6,000-acre master-planned industrial and logistics park just across the river from Louisville. It supports more than 19,000 jobs and has generated over $3 billion in regional economic impact through private investment, wages, and tax revenue. Major employers like Pharma Cord, which invested more than $50 million to create around 850 jobs, highlight River Ridge’s growing role as a hub for advanced manufacturing, life sciences, and logistics.
Southern Indiana Economic Development
The Southern Indiana–Louisville MSA has experienced a surge of economic activity in recent years, fueled by major industrial expansions, infrastructure investment, and continued population growth on the Indiana side of the river. This momentum has strengthened regional employers, attracted new businesses, and supported demand for quality rental housing. the market’s long-term upward trajectory.
?
Key City Initiatives
• CanadianSolar, building a solar cell plant to create 1,200 jobs
• Jeffboat redevelopment, a $1bn plan to redevelop 100-acre riverfront
• $33mm natatorium in planning by the city
River Ridge Overview
Located 15 minutes from River Ridge, a 6,000-acre master-planned industrial and logistics park just across the river from Louisville. It supports more than 19,000 jobs and has generated over $3 billion in regional economic impact through private investment, wages, and tax revenue. Major employers like Pharma Cord, which invested more than $50 million to create around 850 jobs, highlight River Ridge’s growing role as a hub for advanced manufacturing, life sciences, and logistics.
Property Facts
| Price | $1,850,000 | Building Class | C |
| Price Per Unit | $92,500 | Lot Size | 1.56 AC |
| Sale Type | Investment | Building Size | 22,000 SF |
| Cap Rate | 6.97% | Average Occupancy | 90% |
| No. Units | 20 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1987 |
| Property Subtype | Apartment | Parking Ratio | 0.91/1,000 SF |
| Apartment Style | Garden | Opportunity Zone |
Yes
|
| Price | $1,850,000 |
| Price Per Unit | $92,500 |
| Sale Type | Investment |
| Cap Rate | 6.97% |
| No. Units | 20 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 1.56 AC |
| Building Size | 22,000 SF |
| Average Occupancy | 90% |
| No. Stories | 2 |
| Year Built | 1987 |
| Parking Ratio | 0.91/1,000 SF |
| Opportunity Zone |
Yes |
Amenities
Unit Amenities
- Air Conditioning
- Washer/Dryer Hookup
- Heating
- Kitchen
- Refrigerator
- Oven
Site Amenities
- 24 Hour Access
- Security System
- Tenant Controlled HVAC
- Trash Pickup - Curbside
- Walk-Up
- Smoke Detector
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Property Taxes
| Parcel Numbers | Improvements Assessment | $1,430,000 | |
| Land Assessment | $300,000 | Total Assessment | $1,730,000 |
Property Taxes
Parcel Numbers
Land Assessment
$300,000
Improvements Assessment
$1,430,000
Total Assessment
$1,730,000
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Videos
Matterport 3D Exterior
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Providence Row | 600-638 Francis Ave
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