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1635 Central Ave
Indianapolis, IN 46202-1621
Asking Price
$1.55M
Cap Rate
6.1%
Asset Type
Student Housing Multifamily
Class
Class B
What's Special
Turnkey 12 unit apartment complex, 6% CAP <ul><li>Over 6% cap rate</li><li>Located at the intersection of the highly desirable Herron Morton and Old Northside neighborhoods</li><li>In a designated tax advantaged Opportunity Zone</li><li>12 unit property</li><li>Three all brick buildings- four units each</li><li>Each unit features a spacious two bedroom, one bath layout with lots of natural light</li><li>Each unit is currently leased for $895-$995 per month, all leases will renew at $995</li><li>Fantastic 95% occupancy rate maint
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NOI
$80,000
Cap Rate
5.16%
DSCR
0.87
Underwater
Cash-on-Cash
-2.59%
Monthly Payment
$7,668.554
Annual Cash Flow
$-12,022.651
