$1,600,000
Central Plaza Apartments
Details
Property Type Multifamily
Sub Type Apartment Building
Units 24
Cap Rate 9.36%
NOI $149,748
Occupancy 95%
Pro-Forma Cap Rate 11.08%
Pro-Forma NOI $177,348
Broker Co-Op Yes
Class C
Year Built 1900
Year Renovated 2023
Buildings 1
Stories 3
Acreage 0.360
Zoning General Business
Parking Spaces 18 spaces
Investment Type Stabilized
Occupancy Date 03/01/2026
Remodeled 24 Unit apartments in Connersville, Indiana.
Marketing description
Well-maintained 24-unit apartment building located in the heart of downtown Connersville. All units have been fully updated between 2023-2024 with new flooring, fresh paint, modern kitchens, and renovated bathrooms-offering tenants comfortable, move-in-ready living spaces. The building features a shared laundry room equipped with three coin-operated washers, three coin-operated dryers, and convenient folding stations for residents. The property also includes an 18-space private parking lot, with additional street parking available along the north and west sides of the building. A turnkey investment opportunity with significant upgrades already completed and strong tenant appeal in a central downtown location.
Listing Contacts
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$149,748.00
$12,479.00/mo
Valuation Metrics
0
DSCR
9.36%
Cap Rate
9.36%
ROI
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