For Sale
$785,000

117 Broadway St Butler, IN 46721

18-Unit Multifamily Investment, High Cap Rate

Property records and analytics

Overview

Added:
Dec 11, 2024
Days on market:
138
This exceptional investment opportunity presents an 18-unit apartment building located at 117 S Broadway St, Butler, IN 46721. The property, situated on a 0.3-acre lot, boasts a total of 14,238 square feet across three floors within a single building. Constructed in phases (1900 and 1975), the building underwent a complete renovation in 2022. Currently zoned GB, this Class C multifamily property offers significant potential. With 18 units, the asking price is $785,000, translating to approximately $43,611.11 per unit. The property's strong financial performance is highlighted by a projected net income of $140,000 when occupancy reaches 88%. This translates to an attractive 18% capitalization rate. The property's APN is 17-07-12-101-005.000-027. This renovated building presents a compelling opportunity for investors seeking strong returns in a stable market. The property's location in DeKalb County, Indiana provides easy access to local amenities and transportation. This is a turnkey investment ready for immediate income generation. Detailed financial information is available upon request.

Highlights

  • $785,000 asking price for an 18-unit apartment building.
  • Multifamily property, Class C, with an 18% cap rate.
  • 18 units, totaling 14,238 square feet.
  • Built in 1900 and 1975, renovated in 2022.
  • Single, three-story building on a 0.3-acre lot in Butler, IN.

Property Details for 117 Broadway St

Property type
Apartment buildings
Class
C
Year Renovated
2022
Buildings
1
Stories
3
Lot Size (sq. ft)
13,068 SF
Units
18

Location Insight

City
Butler
County
DeKalb
State
Indiana
Latitude
41.42935339
Longitude
-84.8713506

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FAQs

What type of property is this?
Apartment building - 18-Unit Multifamily Investment, High Cap Rate
Where is the apartment building located?
The property is located at 117 Broadway St Butler, IN.
What is the asking price?
The asking price for this property is $785,000.
What are key features of this property?
This property features: $785,000 asking price for an 18-unit apartment building.; Multifamily property, Class C, with an 18% cap rate.; 18 units, totaling 14,238 square feet.
How can I contact the broker?
We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.
How do I access a private listing?
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Contacts

Austin Hoskins
Austin Hoskins
Karl Behrens, CCIM, SIOR
Karl Behrens, CCIM, SIOR
Alec Ramsey
Alec Ramsey
Visit Broker Website

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Useful Information

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Broadway St
Butler, IN 46721

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Broadway St
Butler, IN 46721

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Disclaimer

The property value estimates provided on this website are automated calculations based on publicly available data, user-submitted information, and proprietary algorithms. These estimates are not appraisals and should not be used as a substitute for a professional valuation by a licensed appraiser.

We do not guarantee the accuracy, reliability, or completeness of these estimates, as market conditions, property features, and other factors may affect actual property values. Users should conduct their own due diligence and consult with a real estate professional before making financial or investment decisions.

By using this service, you acknowledge and accept that all estimates are provided for informational purposes only and that this website assumes no liability for any reliance on the provided valuations.

117 Broadway St
  • Austin Hoskins
    Austin Hoskins
  • Karl Behrens, CCIM, SIOR
    Karl Behrens, CCIM, SIOR
  • Alec Ramsey
    Alec Ramsey
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