Off Market 52 Unit Complex (15% Post Tax IRR, 8% Cap)

[Courtney Waldon]

Madison Flatts is a recently remodeled 52 unit complex on the southside of Lafayette, IN. For $3.6 million, you are getting a basically brand new complex that runs extremely efficiently and has had high occupancy rates since the remodel. Each of the 6 buildings is 100% masonry built. The units are split up into two groups, luxury and remodel. The luxury units sport brand new flooring, stainless steel appliances, granite countertops, and updated cabinetry. Remodeled units have new flooring, but basic kitchen appliances, cabinets, and countertops. Feel free to look at the attached flyer and contact me if you are interested. Thank you

[Andrew Schena]

Hey Courtney,

I'm assuming all the land behind that complex is owned by the current sellers, correct?  What's the feasability to add units, and would the market support it?  Do you get any Purdue students/business that far south?  

Thanks.

Best,

Andrew Schena