425 Adams StMuncie, IN 47305

For Sale
$2,959,000

18 buildings, 74 units, high NOI

Overview

Added:
Dec 11, 2024
Days on market:
91
This exceptional investment opportunity presents a portfolio of eighteen multifamily properties totaling seventy-four units in Muncie, Indiana. The portfolio boasts a strong current Net Operating Income (NOI) of $280,917, representing a 9.49% capitalization rate. The properties are classified as Class C and enjoy a 90% occupancy rate. Individual unit sizes range from 951 to 6,762 square feet, offering a diverse mix to attract a wide range of tenants. The strategic location near downtown Muncie and Ball State University ensures consistent high demand and occupancy. Many units have undergone recent upgrades, including new HVAC systems, flooring, and appliances, contributing to the strong financial performance. The asking price for this stabilized investment is $2,959,000, translating to a price per unit of $39,986.49. The properties are situated across various addresses in Muncie, Delaware County, Indiana, with zip codes 47302, 47303, and 47305. This portfolio represents a compelling opportunity for investors seeking a stable, high-yielding multifamily investment in a desirable location.

Highlights

  • 18-unit multifamily portfolio in Muncie, IN, generating a $280,917 NOI with a 9.49% cap rate.
  • Prime location near downtown Muncie and Ball State University, ensuring high occupancy.
  • Many units boast recent upgrades, including HVAC, flooring, and appliances.

Property Details for 425 Adams St

Property type
Multifamily properties, Residential income homes
Square Feet
951 SF
Class
C
Buildings
18
Units
74

Location Insight

City
Muncie
County
Delaware
State
Indiana
Latitude
40.191843549952
Longitude
-85.391040780906
425 Adams St, Muncie, Indiana

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425 Adams St
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