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200-Unit Apartment Building

Property Type: Residential Income - Apartments

Last Updated: 7/22/2010 12:00:57 AM EST
Property # 29544

Location:

Indianapolis, Indiana 46??? USA

View Address On Mapquest

Value:
Loans:
Equity:

$5,100,000
$0
$5,100,000

Property Description:
Well Maintained apartment that is currently in recievorship. It was financed at over $40K per unit. It is now offered at around $16K per unit. Looking for partners, cash or equities to do project..
Benefits to New Owner:

Unit Mix

# Units	56	Bed/Bath	1/1	Approx. Sq. Ft.	686	Avg. Rent/mo.	$435
# Units	24	Bed/Bath	1/1.5	Approx. Sq. Ft.	886	Avg. Rent/mo.	$560
# Units	56	Bed/Bath	2/1	Approx. Sq. Ft.	910	Avg. Rent/mo.	$610
# Units	32	Bed/Bath	2/2	Approx. Sq. Ft.	1072	Avg. Rent/mo.	$665
TOTALS	168

Annual Income & Expense
	Per/Year	% of G.I.	Projected/Year
Gross Schedule Income	$721,512	100%	$1,225,728
Less Vacancy (-)	$0	0%	$147,087
Other Income (+)	$28,652	4%	$37,000
Gross Operating Income	$750,164	100%	$1,115,641
Operating Expenses (-)	$557,800	77%	$552,000
Net Operating Income (=)	$192,364	27%	$563,641
Loan Payments (-)	$0	0%	$228,000
CASH FLOW (=)	$192,364	27%	$335,641
Capitalization Rate	3.77%		11.05%
Lot Size
Zoning
Yr. Built

Additional Income & Expense Comments

We feel that with a good working partnership that we can dramatically impact a decrease in the Management, Payroll, and Repairs and Maintenance.

Loans

No information found.

Additional Information Available Upon Request

No Appraisal available at this time

Maps: Area & Plat
Leases
APOD & Financial Data
Financial Statements

Can Adds

No Can Add information found.

Click to view Other parties that may want what you have based on a computer match from the property records data

Owner's Profile
Occupation Name Please Sign In or Register to view owner information.
Why Owner No Longer Wishes to Own This Property
Property has circumstances beyond owner's ability to resolve

Will Consider Exchanging For

Commercial: Other
Industrial: Other
Residential Income: Other
Land: Other
Mobile Home Park: Other
Personal Property: Other
Business Opportunities: Other
Owner Occupied: Other
Services Offered: Other

U.S. Locations
Map
States/Regions:

Regions: 'MIDWEST'

Property Represented By

Click Here to contact the Owner or Agent representing this property.

REE.com Inc. has not verified the above property information and therefore does not guarantee or warranty any information contained herein. It is your responsibility to seek independent assistance for legal, tax, financial and physical inspections. All information submitted is subject to errors, omissions, change of price/value, withdrawal and to any special listing conditions imposed by the principals.