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Buildings By Owner | Buy, Sell & Lease Commercial Real Estate. Privately.
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Home For Sale Indiana Muncie 2595
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Multiplex For Sale By Owner

INVESTMENT PROPERTY...4-PLEX...GREAT CASH FLOW




W White River Blvd & S Dill St, Muncie, Indiana 47303 United States
Description

My name is Bill and I am looking to sell my 4 unit apartment building in Muncie, Indiana. There are 5 bedrooms total, and the property is fully-rented. This is a campus-based apartment building close to Ball State University, which has an enrollment of over 20,000 students.

Gross rents for the 4 units are $1,600/ month and current monthly expenses are approximately $740. The building is completely electric, with each tenant paying their own bill. I pay for the water and sewer at the facility. All 4 units were renovated in 2011. Asking price is $99,750.

An additional feature to the building is its large basement, which has outdoor access and a separate electric meter. That said, the basement could be turned into a 5th unit for more cash flow opportunities!

I have a property manager in place that specializes in campus-based rentals that would make for a seamless transition for a new owner.

The average annual net cash flow is approximately $10,320. The cap rate would be about 10.3% at this purchase price.

Price: $99,750
Property Sub-Type: Multiplex
Listing ID: 2595

Map of: W White River Blvd & S Dill St, Muncie, Indiana 47303 United States

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