East Ridge Apartments | 2302 N Ritter Ave
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East Ridge Apartments 2302 N Ritter Ave
42 Unit Apartment Building $4,854,835 CAD ($115,591 CAD/Unit) 7.18% Cap Rate Indianapolis, IN 46218
Investment Highlights
- Attractive unit mix - 78% 2-bedrooms
- Extensive capital expenditures completed - new gas lines, exterior painting, all new AC units, and more
- Year-over-year rent growth of 6.8% in submarket
- 100% of units renovated
Financial Summary (Actual - 2023) Click Here to Access |
Annual (CAD) | Annual Per SF (CAD) |
---|---|---|
Gross Rental Income | $99,999 | $9.99 |
Other Income | $99,999 | $9.99 |
Vacancy Loss | $99,999 | $9.99 |
Effective Gross Income | $99,999 | $9.99 |
Taxes | $99,999 | $9.99 |
Operating Expenses | $99,999 | $9.99 |
Total Expenses | $99,999 | $9.99 |
Net Operating Income | $99,999 | $9.99 |
Financial Summary (Actual - 2023) Click Here to Access
Gross Rental Income (CAD) | |
---|---|
Annual | $99,999 |
Annual Per SF | $9.99 |
Other Income (CAD) | |
---|---|
Annual | $99,999 |
Annual Per SF | $9.99 |
Vacancy Loss (CAD) | |
---|---|
Annual | $99,999 |
Annual Per SF | $9.99 |
Effective Gross Income (CAD) | |
---|---|
Annual | $99,999 |
Annual Per SF | $9.99 |
Taxes (CAD) | |
---|---|
Annual | $99,999 |
Annual Per SF | $9.99 |
Operating Expenses (CAD) | |
---|---|
Annual | $99,999 |
Annual Per SF | $9.99 |
Total Expenses (CAD) | |
---|---|
Annual | $99,999 |
Annual Per SF | $9.99 |
Net Operating Income (CAD) | |
---|---|
Annual | $99,999 |
Annual Per SF | $9.99 |
Property Facts
Price | $4,854,835 CAD | Apartment Style | Low Rise |
Price Per Unit | $115,591 CAD | Building Class | C |
Sale Type | Investment | Lot Size | 2.01 AC |
Cap Rate | 7.18% | Building Size | 38,967 SF |
Gross Rent Multiplier | 8.52 | Average Occupancy | 90% |
No. Units | 42 | No. Stories | 3 |
Property Type | Multifamily | Year Built/Renovated | 1969/2022 |
Property Subtype | Apartment | Parking Ratio | 1.98/1,000 SF |
Price | $4,854,835 CAD |
Price Per Unit | $115,591 CAD |
Sale Type | Investment |
Cap Rate | 7.18% |
Gross Rent Multiplier | 8.52 |
No. Units | 42 |
Property Type | Multifamily |
Property Subtype | Apartment |
Apartment Style | Low Rise |
Building Class | C |
Lot Size | 2.01 AC |
Building Size | 38,967 SF |
Average Occupancy | 90% |
No. Stories | 3 |
Year Built/Renovated | 1969/2022 |
Parking Ratio | 1.98/1,000 SF |
Unit Amenities
- Air Conditioning
- Balcony
- Heating
- Refrigerator
- Range
- Carpet
- Family Room
- Patio
Site Amenities
- Laundry Facilities
Unit Mix Information
Description | No. Units | Avg. Rent/Mo | SF |
---|---|---|---|
1+1 | 8 | $974.51 CAD | 650 |
2+1 | 33 | $1,138 CAD | 875 |
3+1 | 1 | $1,417 CAD | 1,000 |
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PROPERTY TAXES
Parcel Number | 49-07-27-103-002.000-701 | Total Assessment | $798,554 CAD |
Land Assessment | $170,456 CAD | Annual Taxes | -$1 CAD ($0.00 CAD/SF) |
Improvements Assessment | $628,098 CAD | Tax Year | 2023 |
PROPERTY TAXES
Parcel Number
49-07-27-103-002.000-701
Land Assessment
$170,456 CAD
Improvements Assessment
$628,098 CAD
Total Assessment
$798,554 CAD
Annual Taxes
-$1 CAD ($0.00 CAD/SF)
Tax Year
2023
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East Ridge Apartments | 2302 N Ritter Ave
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