Turnkey 12 unit apartment complex, Indianapolis IN, 350k, 26% COC

[Corky Bless]

Looking to sell a 12 unit complex we have taken and turned around...we put forth the effort of making this property rent ready (and are in the process of filling it with GOOD tenants now--as of this post we have 6 of 12 rented and showings are frequent). VERY low maintenance property. Roof less than 5 years old. Cinder block construction, vinyl flooring in all units (10 year life at the minimum) List price is $350,000, slab on grade (no basements to leak and worry about). Average rent is $525/unit (eleven 2 bed 1 bath units and one 1 bed 1 bath unit). Has ample parking out back. Each unit individually metered for electricity (all electric systems, newer furnace and hot water heaters in units). Remote surveillance system--VERY handy.

We have an excellent property manager in place who is fair and honest (believe me, this is rare in Indy and I speak from painful experience). I also have a lender that will lend up to 65% of the purchase price if needed (commercial lending has been a bit tricky I've found). Excellent opportunity to own a commercial multifamily property that is in fantastic shape. Please message me with questions and comments!

Please download the flyer here (copy/past to browser if it's not a link) 

which includes cap rate and cash flow analysis:  

https://www.dropbox.com/s/4m5dtqgh91yo0jr/12%20Uni...