6240 E 11th St
Indianapolis, IN 46219
33 Units W/Loan Assumption · Multifamily Property For Sale
·
33 Units
Investment Highlights
- 13.6% COC with existing loan assumption
- This is a Huge Value-add and Roofs were replaced in 2016
- Fully Occupied and renovated
- Surrounded by residential
Property Facts
| No. Units | 33 | Building Size | 36,000 SF |
| Property Type | Multifamily | Average Occupancy | 100% |
| Property Subtype | Apartment | No. Stories | 3 |
| Apartment Style | Low-Rise | Year Built/Renovated | 1979/2019 |
| Building Class | C | Parking Ratio | 1.21/1,000 SF |
| Lot Size | 1.40 AC | ||
| Zoning | MF - Multi-family | ||
| No. Units | 33 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 1.40 AC |
| Building Size | 36,000 SF |
| Average Occupancy | 100% |
| No. Stories | 3 |
| Year Built/Renovated | 1979/2019 |
| Parking Ratio | 1.21/1,000 SF |
| Zoning | MF - Multi-family |
Amenities
Unit Amenities
- Air Conditioning
- Heating
- Kitchen
Site Amenities
- 24 Hour Access
- Laundry Facilities
About 6240 E 11TH ST , INDIANAPOLIS, IN 46219
33 units building (31) 2BR and (2) 3BR completely renovated including common areas, halls and laundry rooms, new kitchens, appliances, bathrooms, plumbing and heating all bread new. Property is currently at 100% occupancy and with no deferred maintenance or any repairs needed. the roof was replaced in 2016. The property is surrounded by residential but located within close proximity to shopping, numerous amenities and in the warren park neighborhood minutes from the Irvington and short drive to downtown Indianapolis. Strong NOI. All tenants were thoroughly screened and approved by ownership. Rents are approximately $75 per unit below market and tenants are not billed for water. A huge Value-add opportunity in todays multi family market with any down units Existing loan with very attractive terms, can be assumed. Current COC at 9%, Performa CASH ON CASH OVER 13%
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 31 | $662.50 | - |
| 3+1 | 2 | $725.00 | - |
Property Taxes
| Parcel Number | 49-07-35-104-045.000-701 | Improvements Assessment | $1,154,300 |
| Land Assessment | $84,800 | Total Assessment | $1,239,100 |
Property Taxes
