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Multifamily

Somerset Village Apartments

150 White Dr., Somerset, IN 46984

Listing Price: $725,000

Cap Rate
6.19%
Number of Units
24
Occupancy
98.0%
Price/Unit
$30,208
Price/Gross SF
$38.67
Gross SF
18,750

Investment Overview

Marcus and Millichap is pleased to present Somerset Village Apartments in Somerset, IN. Somerset Village was originally constructed in 1991 as a Rural Development Project. The property is currently out of the Rural Development program and is now operating as a Market Rate property. The unit mix consists of (12) 593 sq. ft. 1 Bed, 1 Bath units and (12) 611 sq. ft. 1 Bed, 1 Bath units. The property is located in Somerset, Indiana, which is south of Wabash and north of Marion, Indiana. Somerset Village represents a tremendous value add opportunity to increase income with unit renovations.

Investment Highlights

  • Constructed in 1991 as a Rural Housing Development Property - Currently a Market Rate Property.
  • (24) Total One Bedroom, One Bath Units
  • Beautiful Wooded Setting
  • Drive-up Parking in Front of Units

Exclusively Listed By

Financing By

Multifamily

Somerset Village Apartments

Listing Price: $725,000

Cap Rate
6.19%
Number of Units
24
Occupancy
98.0%
Price/Unit
$30,208
Price/Gross SF
$38.67
Gross SF
18,750

Investment Highlights

  • Constructed in 1991 as a Rural Housing Development Property - Currently a Market Rate Property.
  • (24) Total One Bedroom, One Bath Units
  • Beautiful Wooded Setting
  • Drive-up Parking in Front of Units

Investment Overview

Marcus and Millichap is pleased to present Somerset Village Apartments in Somerset, IN. Somerset Village was originally constructed in 1991 as a Rural Development Project. The property is currently out of the Rural Development program and is now operating as a Market Rate property. The unit mix consists of (12) 593 sq. ft. 1 Bed, 1 Bath units and (12) 611 sq. ft. 1 Bed, 1 Bath units. The property is located in Somerset, Indiana, which is south of Wabash and north of Marion, Indiana. Somerset Village represents a tremendous value add opportunity to increase income with unit renovations.

Exclusively Listed By

Financing By

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