5819 E Washington St 14 Unit Apartment Building $1,664,040 CAD ($118,860 CAD/Unit) 8% Cap Rate Indianapolis, IN 46219
EXECUTIVE SUMMARY
Amazing and rare opportunity to purchase cashflow-positive property in Historic Irvington. The property has several mature trees and nice yard. This 14 unit has been well maintained. Electricity for each unit is in tenants' name and each unit includes an electric range. The heat is a gas central boiler that is proactively maintained. The current owner has an on-site custodian who helps maintain public spaces and garbage, etc. The current owner has replaced one commercial washer & dryer, commercial water heater, and addressed plumbing issues throughout. Sewer was repaired prior to their purchase.
PROPERTY FACTS
| Price | $1,664,040 CAD |
| Price Per Unit | $118,860 CAD |
| Sale Type | Investment |
| Cap Rate | 8% |
| Gross Rent Multiplier | 6.2 |
| No. Units | 14 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.25 AC |
| Building Size | 10,000 SF |
| No. Stories | 3 |
| Year Built | 1924 |
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| Studios | 14 | - | - |
1 of 1
Walk Score®
Very Walkable (75)
Bike Score®
Very Bikeable (80)
PROPERTY TAXES
| Parcel Number | 49-10-03-206-003.000-701 | Improvements Assessment | $450,474 CAD |
| Land Assessment | $16,912 CAD | Total Assessment | $467,386 CAD |
