Listing Agency: Envoy Real Estate j***@talktotucker.com Show Phone

Listed By: Jordan Kornmann · License #IN RB17000305

Source: Crexi

Added: Apr 11 Changed: Aug 8 Last Checked: Jul 22 at 2:53PM

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Investment Insights

Based on property information with market context.

This offering presents a stabilized multifamily portfolio comprising 24 apartment properties and 101 total units. The portfolio is described as part of a larger group of assets, with many of the properties located in close proximity to support efficient management. The package is presented for sale as a whole, with the seller also considering group sales depending on the terms outlined in the attached OM.

According to the provided remarks, the portfolio is currently stabilized with 94% occupancy and an indicated 8.71% cap rate. The assets are located in Muncie and New Castle, Indiana.

All details regarding the individual properties, current expenses, and specific unit mix are not provided in the supplied information, so prospective buyers should review the attached OM for full underwriting context.

Key Highlights

• Multifamily portfolio with 24 properties totaling 101 units in Muncie and New Castle, IN
• Stabilized operations with 94% occupancy
• Portfolio shows an 8.71% cap rate

Property Analytics

Property Profile

Current Use

Apartment buildings

Suggested Use

Top Pick Dental Office HVAC Service Plumbing Service Bakery (Bike/Boat/Book/etc) Store Veterinary Clinic

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

252

Businesses Nearby

Explore this area Business Placement

Demographics for 47303, IN

24,069

Population

11,567

Households

2.1

Avg Household Size

30

Median Age

25%

College-Educated

90%

High-School Grad

58.0 sq mi

ZIP Area

415

Density / Sq Mi

$42,556

Median Household Income

$22,497

Median Earnings

$883

Median Rent

$106,600

Median Home Value

Market

Vacancy Rate% for Multifamily in Midwest region

6.5% 2022

7.5% 2023

7.8% 2024

8% 2025

Questions? Ask Rey

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Frequently Asked Questions

What type of property is this?

Apartment building - Portfolio includes 24 multifamily properties totaling 101 units, with stabilized operations and 94% occupancy.

Where is this apartment building located?

The property is located at 1608 N Elm St Muncie, IN.

What are key features of this property?

This property features: Multifamily portfolio with 24 properties totaling 101 units in Muncie and New Castle, IN; Stabilized operations with 94% occupancy; Portfolio shows an 8.71% cap rate