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627 Frederick St
New Harmony, IN 47631
Parkview Apartments · Multifamily Property For Sale
·
8 Units
PROPERTY FACTS
| No. Units | 8 | Lot Size | 0.25 AC |
| Property Type | Multifamily | Building Size | 6,020 SF |
| Property Subtype | Apartment | No. Stories | 3 |
| Apartment Style | Low-Rise | Year Built/Renovated | 1970/2018 |
| Building Class | C | Parking Ratio | 1.33/1,000 SF |
| Zoning | R-M | ||
| No. Units | 8 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.25 AC |
| Building Size | 6,020 SF |
| No. Stories | 3 |
| Year Built/Renovated | 1970/2018 |
| Parking Ratio | 1.33/1,000 SF |
| Zoning | R-M |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Cable Ready
- Washer/Dryer Hookup
- Heating
- Tile Floors
- Refrigerator
- Tub/Shower
- Carpet
- Vinyl Flooring
SITE AMENITIES
- Laundry Facilities
- Storage Space
ABOUT 627 FREDERICK ST , NEW HARMONY, IN 47631
Excellent income producing property - 11+% cap rate managed and 13+% self-managed. Recent rehab offers years of low maintenance and repair costs. Landlord pays for water, sewer, gas, and common area utilites including the coin laundry. This property has been extensively remodeled. It offers a mix of 3 - 1bedroom, 3 - 2bedroom, and 2 -3bedroom units that have all new flooring and paint. The rental units also include six new HVAC units and several newer appliances. Each unit includes laundry hookups, in addition to a common area coin laundry room located on the lower level. The building has extra square footage in the lower level that could be used for paid storage units. The lower level has been professionally waterproofed with a lifetime limited warranty, and is supported by two sump pumps. The seller is continuing to update with new paint inside and out. The property is professionally managed. Outside, the property has off street parking, and a large lot in the rear that could be used for additional parking. The building is brick with aluminum trim for low maintenance operation. The metal roof and all of the windows in the front of the building are approximately one year old. The property is located near the city park and within walking distance of downtown area shopping and restaurants.
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 3 | $400.00 | 300 - 440 |
| 2+1 | 3 | $487.50 | 400 - 550 |
| 3+1 | 2 | $625.00 | 600 - 750 |
PROPERTY TAXES
| Parcel Number | 65-26-01-210-018.000-007 | Improvements Assessment | $210,700 |
| Land Assessment | $10,200 | Total Assessment | $220,900 |
PROPERTY TAXES
