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Multifamily

Irvington Arms Apartments

5345 Washington St, Indianapolis, IN 46219

Listing Price: $2,455,000

Cap Rate
6.25%
Number of Units
36
Price/Unit
$68,194
Price/Gross SF
$133.33
Gross SF
18,413

Investment Overview

Irvington Arms is a true operational value-add opportunity through increasing rents to market and through the implementation of other forms of recurring income.

Investment Highlights

  • Historic Irvington district
  • Opportunity to implement a $35/month utility bill-back charge to tenants which would add an additional $15,120 in annual revenue.
  • Once rents are increased to market and utility-billing has been fully realized, total revenue growth would equate to +$28,320 or an increase of +10.5%.

Exclusively Listed By

Multifamily

Irvington Arms Apartments

Listing Price: $2,455,000

Cap Rate
6.25%
Number of Units
36
Price/Unit
$68,194
Price/Gross SF
$133.33
Gross SF
18,413

Investment Highlights

  • Historic Irvington district
  • Opportunity to implement a $35/month utility bill-back charge to tenants which would add an additional $15,120 in annual revenue.
  • Once rents are increased to market and utility-billing has been fully realized, total revenue growth would equate to +$28,320 or an increase of +10.5%.

Investment Overview

Irvington Arms is a true operational value-add opportunity through increasing rents to market and through the implementation of other forms of recurring income.

Exclusively Listed By

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