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Multifamily

Lafayette Portfolio

119 S 17th St, Lafayette, IN 47905

Listing Price: $4,400,000

Cap Rate
7.02%
Number of Units
64
Price/Unit
$68,750
Price/Gross SF
$111.96
Gross SF
39,301

Investment Overview

The Lafayette Portfolio is a three-property apartment portfolio in Lafayette, Indiana. Two of the properties are immediately adjacent to each other, with the third only 1.5 miles to the north. The properties have undergone recent improvements, including unit interior renovations, exterior repairs, and new exterior painting. The three properties consist of 64 apartment units. The unit mix is 37 studios, 19 1-bedrooms, and 8 2-bedroom townhomes. Current occupancy exceeds 95%, and for each unit type there are higher rent units demonstrating upside in gross potential rent for the portfolio. Lafayette has had consistent population and job growth, and has a healthy variety among its economic strengths. Purdue University provides an anchor for the entire MSA, Subaru of Indiana Automotive’s 85-acre manufacturing campus is the bedrock of the manufacturing industry, and healthcare & pharmaceutical companies provide strong & stable employment. lending to a very strong and desirable apartment market. The Lafayette Portfolio presents the prospective investor the opportunity to obtain a well-maintained, high-performing portfolio with rental upside in one of Indiana’s strongest apartment markets.

Investment Highlights

  • Recent & Ongoing Curb Appeal Improvement
  • Recently Renovated Units
  • Studio, 1-, and 2- Bedroom Units

Exclusively Listed By

Listing Price: $4,400,000

Cap Rate
7.02%
Number of Units
64
Price/Unit
$68,750
Price/Gross SF
$111.96
Gross SF
39,301

Investment Highlights

  • Recent & Ongoing Curb Appeal Improvement
  • Recently Renovated Units
  • Studio, 1-, and 2- Bedroom Units

Investment Overview

The Lafayette Portfolio is a three-property apartment portfolio in Lafayette, Indiana. Two of the properties are immediately adjacent to each other, with the third only 1.5 miles to the north. The properties have undergone recent improvements, including unit interior renovations, exterior repairs, and new exterior painting. The three properties consist of 64 apartment units. The unit mix is 37 studios, 19 1-bedrooms, and 8 2-bedroom townhomes. Current occupancy exceeds 95%, and for each unit type there are higher rent units demonstrating upside in gross potential rent for the portfolio. Lafayette has had consistent population and job growth, and has a healthy variety among its economic strengths. Purdue University provides an anchor for the entire MSA, Subaru of Indiana Automotive’s 85-acre manufacturing campus is the bedrock of the manufacturing industry, and healthcare & pharmaceutical companies provide strong & stable employment. lending to a very strong and desirable apartment market. The Lafayette Portfolio presents the prospective investor the opportunity to obtain a well-maintained, high-performing portfolio with rental upside in one of Indiana’s strongest apartment markets.

Exclusively Listed By

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