4214 Otterbein AveIndianapolis, IN 46227

Property Details for 4214 Otterbein Ave

Property size (Sq ft)

30,059 SF

Property type

Hospitality properties

Property subtype

Multifamily properties

Description

This exceptional investment opportunity presents a portfolio of 21 buildings comprising 25 student housing units, totaling 30,059 square feet of net rentable space. Located in Indianapolis, Indiana, near the University of Indianapolis campus, this portfolio boasts a 100% occupancy rate for the 2023-2024 school year, offering immediate cash flow. The properties are situated in Marion County, with addresses spanning several streets in the 46227 zip code, including Otterbein Avenue, Castle Avenue, Hanna Avenue, Randolph Street, and Walcott Street. Each unit averages a substantial 194,480 dollars, reflecting a strong price per unit of $148.04 per square foot. The portfolio's strategic location, just blocks from the university and within close proximity to downtown Indianapolis, Garfield Park, and Fountain Square, ensures consistent high demand. The properties are zoned for single-family residential use (SFR), providing flexibility and potential for future development. This is a turnkey investment with a compelling 6.50% capitalization rate, making it an attractive addition to any real estate portfolio. The asking price for the entire portfolio is $4,450,000. The portfolio offers a rare opportunity to acquire a fully leased, high-performing student housing asset in a desirable location.

Location Insight

City

Indianapolis

County

Marion

State

Indiana

Latitude

39.7039

Longitude

-86.1341

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