Affordable Multifamily Apartment
100 S High St Versailles, IN 47042
100 S High St, Versailles, IN, 47042
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For Sale
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36-unit, three-story affordable apartment property on 5.35 acres, fully occupied, built in 1938 and renovated in 2004.
Property Size30,135 SF
Lot Size5.35 Acres
Days on Market103
Property Features for 100 S High St
General Information
- Standard status
- Active
- Size
- 30,135 SF
- Lot size
- 5.35 Acres
- Property subtype
- Multifamily
Listing agency
Encore Real Estate Investment Services
Listed by
Deno Bistolarides · License #6502378067
Source
Crexi
Added: Apr 12 Updated: Jul 23 at 5:52AM Checked: Jul 23 at 5:52AM
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Investment Insights
Based on property information with market context.
Tyson School Apartments is a 36-unit affordable apartment community in Versailles, Indiana. The property features a three-story building with 30,135 rentable square feet and a unit mix of 18 one-bedroom units and 18 two-bedroom units. Each unit is equipped with a full-size washer and dryer. Heating is provided via electric furnaces and central air systems are in place, with tenant responsibility for electricity and landlord responsibility for water, sewer, and gas.
The community includes a recreational room, an elevator, and a covered BBQ/social area. Historically, the property has been reported as 90% occupied, and it is currently 100% occupied. Constructed in 1938 and renovated in 2004, the asset is located on 5.35 acres and is currently within federal affordability compliance timelines.
The property is in the last year of its decontrol period, which expires on 8/03/2024, during which ownership may not evict or terminate leases of existing low-income tenants. Once a tenant moves out or a lease expires, the unit can be rented at market-rate rents. The remarks also state that 23 of the 36 units are no longer part of the decontrol period, and 8 of the 36 units participate in the HOME investment partnerships program, which expires on 1/03/2025, requiring the affordability component to be honored during that period.
The community includes a recreational room, an elevator, and a covered BBQ/social area. Historically, the property has been reported as 90% occupied, and it is currently 100% occupied. Constructed in 1938 and renovated in 2004, the asset is located on 5.35 acres and is currently within federal affordability compliance timelines.
The property is in the last year of its decontrol period, which expires on 8/03/2024, during which ownership may not evict or terminate leases of existing low-income tenants. Once a tenant moves out or a lease expires, the unit can be rented at market-rate rents. The remarks also state that 23 of the 36 units are no longer part of the decontrol period, and 8 of the 36 units participate in the HOME investment partnerships program, which expires on 1/03/2025, requiring the affordability component to be honored during that period.
Key Highlights
- 36‑unit, three‑story apartment community on 5.35 acres in Versailles, IN (Ripley County).
- Fully occupied: historically 90% occupied, currently 100% occupied.
- Built in 1938 and renovated in 2004 with 30,135 rentable SF.
Property Analytics
Location Intelligence
Current Use by Public Records
Tyson Activity Center
Gym & Fitness Center
Tyson School Apartments ...
Retirement Community
Lifetime Resources Inc
Social Service Agency
COVID-19 vaccine location ...
Medical Laboratory
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FAQs
What type of property is this?
Apartment building - 36-unit, three-story affordable apartment property on 5.35 acres, fully occupied, built in 1938 and renovated in 2004.
Where is this apartment building located?
The property is located at 100 S High St Versailles, IN.
What are key features of this property?
This property features: 36‑unit, three‑story apartment community on 5.35 acres in Versailles, IN (Ripley County).; Fully occupied: historically 90% occupied, currently 100% occupied.; Built in 1938 and renovated in 2004 with 30,135 rentable SF.
