Renovated Five-Plex Apartment
115 S 9th Street Lafayette, IN 47905
For Sale
$419,900
MULTI_FAMILY - Lafayette, IN
Property Size4,094 SF
Lot Size0.24 Acres
Price / SF$102.56
Days on Market114
Property Features for 115 S 9th Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
5
Bathrooms
5
Rooms
Bathroom 2, Bedroom 2, Bathroom 5, Bedroom 5, Bathroom 1, Bathroom 3, Basement, Bedroom 4, Bathroom 4, Bedroom 1, Bedroom 3
Parking
5
Parking features
Off Street
Standard status
Active
APN
79-07-28-101-004.000-004
Size
4,094 SF
Lot size
0.24 Acres
Taxes and HOA fees
Tax Year
2026
Tax Description
52 X 200 FT 9TH ST PT NW NWSEC 28 TWP 23 R4
Tax Annual Amount
4085
Utilities
Cooling system
Wall Unit(s)
Building Details
Year built
1900
Floors in Building
3
Number of units
5
Flooring type
Laminate, Carpet, Wood
Roof type
Shingle
Architectural style
Other
Listing Agency:
Keller Williams Lafayette
(765) 807-7177
Listed By:
Lynn Beckham · License #RB16001188
(765) 242-9882
Added: Apr 7
Changed: Jul 28
Last Checked: Jul 29 at 7:06PM
MLS# 202611928
Copyright © 2026 Lafayette Regional Association of REALTORS®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This offering is a fully rented five-plex apartment building. The property consists of five residential units, and each unit has been renovated within the past four years.
The building is located at 115 S 9th Street in Lafayette, Indiana, within the Historic 9th Street Hill neighborhood. It is noted as being close to downtown.
For buyers seeking an income-producing multifamily asset, this configuration provides five separate units in a renovated, fully occupied building. The recently completed unit renovations may appeal to operators who want a property where individual unit updates are already in place, with the current operation described as fully rented.
The building is located at 115 S 9th Street in Lafayette, Indiana, within the Historic 9th Street Hill neighborhood. It is noted as being close to downtown.
For buyers seeking an income-producing multifamily asset, this configuration provides five separate units in a renovated, fully occupied building. The recently completed unit renovations may appeal to operators who want a property where individual unit updates are already in place, with the current operation described as fully rented.
Key Highlights
- Fully rented 5‑plex in the Historic 9th Street Hill neighborhood
- Generates $5,400 gross monthly rent
- Renovations completed for every unit within the past 4 years
Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $66.3k | $16.20 |
| − Vacancy | −$776 | −$0.19 |
| EGI | $65.5k | $16.01 |
| − OpEx | −$29.5k | −$7.20 |
| NOI | $36.1k | $8.81 |
4,094 SF · lease $16.20/SF/yr · vacancy 1.17% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$515.0K
$450.6K – $600.9K
NOI $36,051 @ 7.0% cap · market cap 8.59%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$945.2K
$827.1K – $1.10M
NOI $66,164 @ 7.0% cap · market cap 15.76%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Apartment building - Fully rented five-unit building with renovations completed within the past four years, located near downtown Lafayette.
Where is this apartment building located?
The property is located at 115 S 9th Street Lafayette, IN.
What is the asking price?
The asking price for this property is $419,900.
What are key features of this property?
This property features: Fully rented 5‑plex in the Historic 9th Street Hill neighborhood; Generates $5,400 gross monthly rent; Renovations completed for every unit within the past 4 years
