Property History
The property is located in Butler, IN which is located 38 miles northeast of Fort Wayne. Ivy Lane attracts tenants from both the county it resides in (Dekalb County) and the additional counties adjacent to it. The populations of Dekalb County and Northeast Indiana have been steadily increasing over the past 30 years, providing a consistent and strong tenant base. The property is currently 100% occupied with collected deposits from accepted applicants for both units scheduled to go vacant.
The 2-bedroom unit scheduled to go vacant was leased at the renovated rent with a security deposit collected before the vacating tenant even moved out. The rent increase on that unit was $100/month. Ivy Lane Apartments provides the prospective investor with the opportunity to acquire a well-maintained property with an established value-add potential.
- 24-unit apartment property in Butler, IN
- Strong demand & occupancy – currently 100% occupied with a waiting list
- Demonstrated value-add opportunity – 2-bedroom pre-leased at renovated rent
- Complete roof tear off and replacement done in 2015 – little to no deferred maintenance
Loan History
Financial History
Tax History
Contact Information
Ownership Information
Property Details
Contacts
Map
Comparable Properties
Rental Market Overview
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