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2302 N RITTER Avenue - Lots of UPSIDE in a very well maintained 42 unit all brick apartment building! 5.9% cap rate with a potential 12.7 cap rate based on a 95% occupancy! Separately metered electric and gas. Owner pays water and trash removal. Coin Laundry facility on site. Near busline, interstate, shopping, hospital, and restaurants. 15 minutes from downtown Indy. A great way to step up your portfolio!

Listing information

  • BLC ID: 21481870
  • Status: Sold on 7/28/2017
  • New Construction: No
  • Lot Size: 87556
  • School District: Indianapolis Public Schools
  • Style: Apartment
  • Stories: 0
  • Foreclosure: No
  • Taxes: $9,432
  • Subdivision: No Subdivision
  • Year Built: 1969
  • Parking Type Description: Other 77 cars
  • Lot Area: 2.01
  • County: Marion

Features

Architectural Style ApartBldg
Building Information All Furnature
Building Levels Three
Building Type ApartBldg
Building Utilities Cable Available, Electric, Gas Connected, Seperate Electric Meter, Seperate Gas Meter, Sewer, Water
Disclosure Other Sales Disclosure Not Req
Documents SrvStaked
Exterior Brick
Exterior Amenities Driveway Asphalt, Fence Partial
Foundation Slab
Inspection Warranties Not Applicable
Interstate Ramp1-3mi
Laundry Common
Lot Information Access Street, Busline
Operating Expense Insurance, Management, PropTaxes, Repairs, Utilities
Other Acres - 1-3 Acres, Amenities - Abundant Parking, Auto Surface - Asphalt, Basement - 0, Conversion - 0, Disclosures - Not Applicable, Expenses - 121059, Green Certification Y/N - 0, Gross Area SQFT - 38967, Gross Operating Income - 186539, Gross Potential Income - 273600, HVAC - Individual Ac & Furnaces, Insurance Expenses - 11962, Insurance Expenses SF - 0.3000, Investment - 1, Listing Type - Exclusive Right To Sell, Lot Number - 0, Net Operating Income - 65480, New Construction - No, Number of Carports - 0, Number of Garages - 0, Number Units Total - 42, Parking - 77, Parking Spaces per Unit - 1.8000, Present Use - Apt>20, Property Description - Lots of Upside in a Very Well Maintained 42 Unit a, Property Sub Type - 5+Units Commercial, Property Type - Multi-Family, Roof - Pitched Asphalt Shingles, Solid Waste - 0, Sq Ft Main Upper - 0, Sq Ft Source - Assessor, Tax Year - 2015, Township - Warren, Unit Count - 3, Zoning - D4
Owner Pays InsHazard, Insurance Liablty, Lawncare, Property Taxes, Sewer, Trash Pick Up, Water
Possession AtClosing, TentantRights
Possible Financing 1031Exchange, Conventional
Proposed Use Apt>20
Road Access CityStreet
Road Frontage CityStreet
Road Surface Asphalt
Tenant Pays Cable, Electric, Gas, Insurance Renters
Unit Parking Parking Lot, Paved Area
Listing Courtesy of Doc Real Estate, Inc