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University Terrace Condominiums 714 College Dr 10 Unit Apartment Building $1,590,000 ($159,000/Unit) 7.70% Cap Rate Anderson, IN 46012
Investment Highlights
- 100% Occupancy
- Individually parceled condominiums
- 10-Unit Condo Portfolio
- Steps from Anderson University
- 2-car attached garages
Executive Summary
Located just steps fromAnderson University, this rare portfolio of 10 well-maintained condominiums presents a premier investment opportunity in the heart of Anderson, Indiana. Each unit is currently fully occupied, with strong tenant demand and a waitlist of prospective renters - underscoring the property's desirability and consistent income potential.
Boasting a Net Operating Income of $122,401 annually, this asset offers investors immediate cash flow with long-term upside in a growing rental market. The property has been professionally maintained, requiring minimal ongoing capital investment, and benefits from a location that ensures continued tenant interest from students, faculty, and local professionals.
Whether you're expanding your portfolio or entering the multifamily market, this stable, income-producing asset delivers both performance and peace of mind.
Boasting a Net Operating Income of $122,401 annually, this asset offers investors immediate cash flow with long-term upside in a growing rental market. The property has been professionally maintained, requiring minimal ongoing capital investment, and benefits from a location that ensures continued tenant interest from students, faculty, and local professionals.
Whether you're expanding your portfolio or entering the multifamily market, this stable, income-producing asset delivers both performance and peace of mind.
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- Offering Memorandum
Property Facts
| Price | $1,590,000 | Property Subtype | Apartment |
| Price Per Unit | $159,000 | Building Class | B |
| Sale Type | Investment | Building Size | 17,500 SF |
| Cap Rate | 7.70% | Average Occupancy | 100% |
| No. Units | 10 | No. Stories | 1 |
| Property Type | Multifamily | Year Built | 1988 |
| Zoning | R-4 & B-1 | ||
| Price | $1,590,000 |
| Price Per Unit | $159,000 |
| Sale Type | Investment |
| Cap Rate | 7.70% |
| No. Units | 10 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Building Class | B |
| Building Size | 17,500 SF |
| Average Occupancy | 100% |
| No. Stories | 1 |
| Year Built | 1988 |
| Zoning | R-4 & B-1 |
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Fairly walkable
50/100
Moderately drivable
70/100
Moderately bikeable
70/100
Property Taxes
| Parcel Numbers | Improvements Assessment | $290,600 | |
| Land Assessment | $45,400 | Total Assessment | $336,000 |
Property Taxes
Parcel Numbers
Land Assessment
$45,400
Improvements Assessment
$290,600
Total Assessment
$336,000
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