Listed by Ellsbury Group
$2,900,000
Pine Grove Apartments
Details
APN 48-04-23-200-016.000-027
Property Type Multifamily
Sub Type Apartment Building
Square Footage 25,768
Units 42
Cap Rate 8.16%
NOI $236,596
Pro-Forma Cap Rate 9.37%
Pro-Forma NOI $271,671
Price per SqFt $113
Year Built 1982
Buildings 7
Stories 1
Lot Size (SqFt) 194,103
Multifamily | 42 Units | $69,048/unit
Marketing description
Ellsbury Commercial Group is pleased to present Pine Grove Apartments, a 42-unit community located in Elwood, IN. The property offers a desirable mix of 8 two-bedroom/one-bath, 27 one-bedroom/one-bath, and 7 studio units.
Spread across seven single-story buildings totaling 25,768 sq. ft., Pine Grove sits on a spacious 4.45-acre lot. Built in 1982, the community is stable with consistent occupancy and tenant-paid electric utilities.
With modest updates and potential rent growth, Pine Grove Apartments provides a compelling opportunity for reliable day-one income alongside future upside.
Listing Contacts
Listed by Ellsbury Group
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$236,596.00
$19,716.33/mo
Valuation Metrics
0
DSCR
8.16%
Cap Rate
8.16%
ROI
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