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Multifamily

River Gate South Apartments

119 E Lake Ave, Plymouth, IN 46563

Listing Price: $5,450,000

Cap Rate
7.08%
Number of Units
40
GRM
7.90
Price/Unit
$136,250
Price/Gross SF
$107.90
Gross SF
50,510

Investment Overview

Marcus & Millichap proudly presents this exceptional investment opportunity in Plymouth, Indiana, the River Gate South Apartments. River Gate South is a 40-unit, mid-rise multifamily community located at 119 E Lake Ave in downtown Plymouth, Indiana. Built in 2019, the property offers a modern, boutique-style product that is highly differentiated from the surrounding housing stock.
Positioned on the south bank of the Yellow River and a bridge crossing away from downtown Plymouth, the asset benefits from a highly desirable location in one of the most walkable pockets in town, supporting consistent tenant demand.
The property features larger unit sizes, in-unit laundry, elevators and high-end amenities like a gym, barbecue/picnic outdoor space, rooftop decks and a media room, all uncommon in the Plymouth market.
River Gate South offers investors the opportunity to acquire a newer, institutional-quality asset in a supply-constrained Midwest market. The combination of modern construction, a walkable downtown riverfront location, and limited competitive inventory supports long-term stability and rent growth.

Investment Highlights

  • 2019 Construction
  • Spacious One, Two, and Three-Bedroom Units
  • Best in Market Amenities, Private Balconies, and In-Unit Laundry
  • Over Seven Percent Cap Rate Day One with Significant Upside Through Operational Efficiencies and Maximizing Rents Supported by Comps

Exclusively Listed By

Broker of Record

  • Julia Evinger

    Managing Director Investments

    (317) 218-5300

    License(s) IN: RB14040143

    Indiana

Financing By

Multifamily

River Gate South Apartments

Listing Price: $5,450,000

Cap Rate
7.08%
Number of Units
40
GRM
7.90
Price/Unit
$136,250
Price/Gross SF
$107.90
Gross SF
50,510

Investment Highlights

  • 2019 Construction
  • Spacious One, Two, and Three-Bedroom Units
  • Best in Market Amenities, Private Balconies, and In-Unit Laundry
  • Over Seven Percent Cap Rate Day One with Significant Upside Through Operational Efficiencies and Maximizing Rents Supported by Comps

Investment Overview

Marcus & Millichap proudly presents this exceptional investment opportunity in Plymouth, Indiana, the River Gate South Apartments. River Gate South is a 40-unit, mid-rise multifamily community located at 119 E Lake Ave in downtown Plymouth, Indiana. Built in 2019, the property offers a modern, boutique-style product that is highly differentiated from the surrounding housing stock. Positioned on the south bank of the Yellow River and a bridge crossing away from downtown Plymouth, the asset benefits from a highly desirable location in one of the most walkable pockets in town, supporting consistent tenant demand. The property features larger unit sizes, in-unit laundry, elevators and high-end amenities like a gym, barbecue/picnic outdoor space, rooftop decks and a media room, all uncommon in the Plymouth market. River Gate South offers investors the opportunity to acquire a newer, institutional-quality asset in a supply-constrained Midwest market. The combination of modern construction, a walkable downtown riverfront location, and limited competitive inventory supports long-term stability and rent growth.

Exclusively Listed By

Broker of Record

  • Julia Evinger

    Managing Director Investments

    (317) 218-5300

    License(s): IN: RB14040143

    Indiana

Financing By

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