1828 5th St - Dormitory FOR SALE


Anderson, IN 46012
$5,300,000 USD
317-560-1323
1828 5th St, Anderson, IN for Sale
$5,300,000 USD
Dormitory - FOR SALE
1/9
null | Request Cap Rate

1828 5th St
Anderson, IN 46012


HIGHLIGHTS

  • - Student housing being sold as “market rent” apartments
  • - Most sought-after student housing location on campus – fully leased
  • - Current student room rates are significantly above market rents
  • - Opportunity to add at least 3 units; and opportunity to develop vacant 1 AC lot
  • - Over 200 dedicated parking stalls
  • - Located on the eastern boundary of Anderson University

OVERVIEW

We are pleased to present the Fair Commons Apartments in Anderson, IN for sale. This 3-story, approximately 43,371 sf building was built in 2005 and houses 42 units, of which 35 are existing 4BR 2 BA floorplans. The property also contains a 9,000sf conference center, which can be partially redesigned to accommodate at least 3 additional rental units. Additionally, the property sits on approximately 4.6 acres, one of which is vacant and can be developed. The property is located on the eastern boundary of Anderson University and serves as one of the premier housing options for its students and is currently fully leased. Please contact Dan O’Neil to further discuss the outstanding investment opportunity.

FOR SALE DETAILS

PRICE

$5,300,000 USD

PRICE/SF

$122 USD /SF

# OF UNITS

42

PRICE/UNIT

$126,190

CAP RATE

Request Cap Rate

% LEASED

98%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Fair Commons Apartments

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Dormitory

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

2005

PARKING SPACES

300

LAND DETAILS

LAND ACRES

4.6 AC

LAND SF

200,572 SF

ZONING

R-4

APN/PARCEL ID

48-12-07-401-089.000-003

ASK ABOUT THIS PROPERTY

Dan O'NeilBerkshire HathawayMore Info
317-560-1323

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Dan O'NeilBerkshire HathawayMore Info
317-560-1323

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.