Skip to main content

Multifamily

Franklin Porfolio

147 E King St, Franklin, IN 46131

Listing Price: $1,263,000

Cap Rate
6.70%
Number of Units
16
Occupancy
93.7%
Price/Unit
$78,938
Price/Gross SF
$102.60
Gross SF
12,310

Investment Overview

The Franklin Portfolio Apartments consist of three properties in Franklin, Indiana. The three properties are within ½ mile of each other and features 16 units with a mix of (8) one bedrooms, (7) two bedrooms, and (1) three bedroom. The properties have been well maintained with unit renovations and overall facelifts to the historic buildings. Franklin is located about 20 minutes south of Indianapolis. The city is known for its well - maintained historic homes and cobblestone streets. The city shows strong growth in population and income outpacing the national average by 2.8x in population and 1.8x in income. Franklin is also home to Franklin College which is a private liberal arts college with over 1,000 students and 116 staff members. This portfolio offers the investor the opportunity to add value through increasing rents by 10.5% to have the opportunity to realize a 12.3% Cash-on-Cash return in a growing market with proximity to Indianapolis. The portfolio has shown strong demand with it currently only having one vacant unit. This high demand has allowed several units to achieve the estimated potential rents and shows the investor real opportunity to increase all rents to this level.

Investment Highlights

  • Newly Renovated Units
  • Recent Capital Improvements
  • Yards/Large Decks Available to Tenants

Exclusively Listed By

Listing Price: $1,263,000

Cap Rate
6.70%
Number of Units
16
Occupancy
93.7%
Price/Unit
$78,938
Price/Gross SF
$102.60
Gross SF
12,310

Investment Highlights

  • Newly Renovated Units
  • Recent Capital Improvements
  • Yards/Large Decks Available to Tenants

Investment Overview

The Franklin Portfolio Apartments consist of three properties in Franklin, Indiana. The three properties are within ½ mile of each other and features 16 units with a mix of (8) one bedrooms, (7) two bedrooms, and (1) three bedroom. The properties have been well maintained with unit renovations and overall facelifts to the historic buildings. Franklin is located about 20 minutes south of Indianapolis. The city is known for its well - maintained historic homes and cobblestone streets. The city shows strong growth in population and income outpacing the national average by 2.8x in population and 1.8x in income. Franklin is also home to Franklin College which is a private liberal arts college with over 1,000 students and 116 staff members. This portfolio offers the investor the opportunity to add value through increasing rents by 10.5% to have the opportunity to realize a 12.3% Cash-on-Cash return in a growing market with proximity to Indianapolis. The portfolio has shown strong demand with it currently only having one vacant unit. This high demand has allowed several units to achieve the estimated potential rents and shows the investor real opportunity to increase all rents to this level.

Exclusively Listed By

MM Texture Background
MM Textured Background Lower