Building Details

Tenancy Multi

Listing Agency: Marcus & Millichap - Milwaukee m***@marcusmillichap.com Show Phone

Listed By: Matthew Whiteside · License #WI

Source: Crexi

Added: Apr 24 Changed: Aug 8 Last Checked: Jul 21 at 5:51PM

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Investment Insights

Based on property information with market context.

Waterview Apartments is an affordable housing community with 64 apartment units in a wooded setting. The unit mix includes 16 one-bedroom, 36 two-bedroom, and 12 three-bedroom residences, each designated as tax credit units under a Land Use Restriction Agreement (LURA) commenced in 2012.

The LURA sets income-based occupancy restrictions for the tax credit units and establishes a total restriction term of 30 years from the date placed in service. Amenity and unit features include full appliance packages, private patios or balconies, individual electric water heaters, central air conditioning, and washer and dryer hookups. Water/sewer and trash/recycling are included in the tenant’s monthly rental rate.

Common community amenities include a clubhouse, billiards and shuffleboard, fitness center, business center, picnic area, and playground. The community is pet friendly, allowing up to two pets per apartment unit, with a $300 pet deposit and $25 monthly pet rent.

Key Highlights

• Waterview Apartments is a 64‑unit LIHTC community at 1200 Sycamore Estates Drive in Lawrenceburg, IN.
• Unit mix includes 16 one‑bedrooms, 36 two‑bedrooms, and 12 three‑bedrooms, all designated as tax credit units under a LURA.
• LURA income restrictions by AMI tier: at least 15% at or below 30%, at least 25% at or below 40%, at least 30% at or below 50%, and at least 30% at or below 60% AMI.

Property Analytics

Current Use

Isalis (Bike/Boat/Book/etc) Store Party City Party Supply Store Skunk Funk Big Box & Wholesale Store Carl's Trading Co Hat Shop Bushka's Kitchen LLC (Bike/Boat/Book/etc) Store

Lease Details

64

Residential units

Multi-tenant

Tenancy

Location Intelligence

Trade Area within ½ mile

4

Businesses Nearby

Explore this area Business Placement

Demographics for 47025, IN

23,118

Population

9,595

Households

2.4

Avg Household Size

42

Median Age

32%

College-Educated

93%

High-School Grad

52.3 sq mi

ZIP Area

442

Density / Sq Mi

$89,986

Median Household Income

$49,627

Median Earnings

$773

Median Rent

$231,000

Median Home Value

Market

Vacancy Rate% for Multifamily in Midwest region

6.5% 2022

7.5% 2023

7.8% 2024

8% 2025

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Frequently Asked Questions

What type of property is this?

Apartment building - Waterview Apartments offers 64 LIHTC-restricted units with private patios or balconies and in-unit washer and dryer hookups.

Where is this apartment building located?

The property is located at 1200 Sycamore Estate Drive Greendale, IN.

What are key features of this property?

This property features: Waterview Apartments is a 64‑unit LIHTC community at 1200 Sycamore Estates Drive in Lawrenceburg, IN.; Unit mix includes 16 one‑bedrooms, 36 two‑bedrooms, and 12 three‑bedrooms, all designated as tax credit units under a LURA.; LURA income restrictions by AMI tier: at least 15% at or below 30%, at least 25% at or below 40%, at least 30% at or below 50%, and at least 30% at or below 60% AMI.