George Commons
Value Add Opportunity
Marketing description
Investment Opportunity in Vincennes, IN: 32-Unit Apartment Complex
FOR SALE BY OWNER: CALL 1-270-997-2624
Discover a lucrative investment opportunity with this exceptional 32-unit apartment complex located at 1321 N. 3rd St., Vincennes, IN 47591. This property boasts 16 fully renovated one-bedroom, one-bath units, showcasing modern flooring, stylish trims, contemporary fixtures, sleek cabinetry, and high-end appliances. The renovations not only enhance aesthetic appeal but also ensure higher rental demand and increased revenue potential.
The exterior of the building has seen significant upgrades, including improvements to the parking lot and mailbox area, creating a welcoming environment for residents. With half of the units already rehabilitated, investors have the unique opportunity to complete renovations on the remaining 16 units, further increasing property value and maximizing rental income.
Located in a desirable area, this apartment complex offers convenience to local amenities, schools, and public transportation, making it an attractive residence for tenants seeking comfort and accessibility.
Positioned for growth, this property is ideal for investors looking to capitalize on the increased rental opportunities by enhancing remaining units and updating common areas. Don’t miss out on this chance to acquire a well-maintained asset with room for significant returns.
In addition, the owner is willing to offer a STACKED seller financing . Seller may be willing to finance your down payment or a portion of your down payment with a balloon payment due (terms negotiable), allowing you to finish the renovations and lease the renovated units and maximize the rent roll.
Investment highlights
Strong Renovation Progress: 16 out of 32 units have been fully renovated, enhancing property value and attracting higher rental rates.
Value-Add Opportunity: Potential to increase overall cash flow by completing renovations on the remaining 16 units and upgrading common areas.
Seller Financing Available: Flexible financing terms provided by the owner can facilitate acquisition and reduce upfront capital requirements for investors.
Prime Location Across from University: The complex’s proximity to a local university ensures strong demand for rental units, appealing to students and faculty members.
Exterior Upgrades Completed: Recent enhancements to the parking lot, mailbox, and overall curb appeal create a welcoming environment for residents and improve property management.
Strong Market Demand: The local rental market shows high demand for one-bedroom apartments, providing excellent income potential and a solid investment opportunity.
Growth Potential: Opportunity for long-term appreciation through ongoing renovations and increasing rental rates in a growing community.
Well-Maintained Property: A history of diligent property management and maintenance ensures a solid foundation for future growth and tenant satisfaction.
Competitive Market Position: With renovations completed, this property is positioned to compete effectively against other rental offerings in the area, maximizing tenant interest and retention.
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