390 Jackson Park DrSeymour, IN 47274

Property Details for 390 Jackson Park Dr

Year built

1990

Lot size

0.73 AC

Property type

Residential income properties

Property subtype

Multifamily properties

Description

Maple Springs Apartments, a 50-unit apartment building in Seymour, Indiana, presents a compelling investment opportunity. This two-story, all-brick complex, built in 1990, boasts 26,712 net rentable square feet on a 0.73-acre lot. The property comprises 13 studio apartments, 35 one-bedroom/one-bathroom units, one two-bedroom/two-bathroom unit, and a one-bedroom unit currently used as a leasing office (convertible to a residential unit). Located just five minutes from I-65, Maple Springs benefits from its proximity to major retailers, businesses, and significant industrial employers, including a large Walmart distribution center undergoing substantial expansion. Seymour's robust economy, fueled by industrial growth and a remarkably low 1.4% submarket vacancy rate, positions this property for strong performance. The asking price is $3,850,000, representing $77,000 per unit. The property's current in-place cap rate is above 7%, with significant potential for increased revenue through lease-up and rent increases. Pro forma projections indicate a potential 8.63% cap rate and a 13.61% cash-on-cash return. The uniform floor plans and excellent location contribute to the property's overall appeal and investment potential. This is an exceptional opportunity to acquire a well-positioned multifamily asset in a thriving Indiana market.

Location Insight

City

Seymour

County

Jackson

State

Indiana

Latitude

38.9596

Longitude

-85.8732

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].