0 Old Tyme CtEvansville, IN 47711

Property Details for 0 Old Tyme Ct

Year built

2023

Property type

Investment properties

Property subtype

Other specialty properties

Description

This exceptional Class A, 18-unit apartment building in Evansville, Indiana, presents a compelling investment opportunity. Boasting a 94% occupancy rate and a pro-forma NOI of $453,168, this stabilized investment property offers a 6.97% pro-forma cap rate. The property, built in 2024, comprises six single-story buildings situated on Old Tyme Ct, zoned C-2. Each of the 18 units is meticulously designed, featuring upscale finishes and two distinct floor plans: The Belfry (2 bedrooms, 1 bath) and The Belvedere (2 bedrooms, 2 baths, 1-car garage). All units are fully furnished, catering to both short-term and extended-stay clientele. The property benefits from its prime location near the commercial district, offering easy access to shopping, dining, I-69, and the airport. Current management is in place and willing to assist a new owner, with the seller providing 90 days of transition support. The property's strong performance, high-end finishes, and desirable location make it an attractive investment prospect. The asking price is $6,500,000, with a gross lease type and no credit rating required for tenants. The property features a brick exterior and has seen three successful price increases without impacting occupancy. This is a turnkey operation with established corporate relationships and high-end clientele. The APN is 82-06-02-002-937.001-019.

Location Insight

City

Evansville

County

Vanderburgh

State

Indiana

Latitude

38.035

Longitude

-87.4928

FAQs

How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?

Please email our support team at [email protected] and they will add the team member.

How do I access a private listing?

Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.

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 unsubscribe from emails?

At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].