Updated almost 9 years ago on . Most recent reply
24 Unit Apartment Property Southwest Indiana $635,000
The Fairview Apartments is a 24 unit apartment community located in Bicknell, IN.
Cap rate 10% Cash on Cash Return 21%
It consists of 24 garden style apartments in 3 buildings on approximately 1.59 acres. Built in 1977, the unit mix consists of 15-2 bedroom/1 bath apartments and 9-1 bedroom/1 bath apartments.
The apartments are individually metered for electric.
There is a coin operated laundry room in the building.
Included is an additional office/storage building.
Owner provides street lights/water/trash/mowing.
All apartments have stove and refrigerator.
Onsite Resident Manager.
Upside potential through upgrades, rent increases and increased occupancy.
No seller financing offered. Cash or new loan only. Serious inquiries only.