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2750 Michigan Road
Madison, IN 47250
Asking Price
$3.75M
Cap Rate
7.72%
Asset Type
Apartment Building Multifamily
Class
Class B
What's Special
Multifamily | 55 Units | $68,182/unit <ul><li>29 Units Fully Renovated</li><li>10 Need Partial Renovation to Achieve Market Rent</li><li>16 Need Full Renovation</li><li>Estimated 35 New PTACs Replaced</li><li>Estimated 25 New Water Heaters</li><li>Estimated 25 New Stoves</li><li>Estimated 25 New Refrigerators</li><li>Additional income includes two signage leases on property</li></ul>
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NOI
$80,000
Cap Rate
2.13%
DSCR
0.36
Underwater
Cash-on-Cash
-12.68%
Monthly Payment
$18,552.954
Annual Cash Flow
$-142,635.447
