Affordable Multifamily Apartment
For Sale
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100 S High St, Versailles, IN 47042
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 Market132
Property Features for 100 S High St
General Information
Standard status
Active
Size
30,135 SF
Lot size
5.35 Acres
Property subtype
Multifamily
Occupancy
100%
Additional Details
Multifamily Units
36
Amenities
recreational room
elevator
covered BBQ/Social area
in-unit washer/dryer
Building Details
Year Built
1938
Year Renovated
2004
Stories
3
Listing Agency:
Encore Real Estate Investment Services
(248) 702-0288
Listed By:
Deno Bistolarides · License #6502378067
Source:
Crexi
Added: Apr 12
Changed: Aug 8
Last Checked: Jul 23 at 5:52AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Encore Real Estate Investment Services
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
Property Profile
Current Use
Lease Details
36
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
216
Businesses Nearby
Explore this area
Business Placement
Demographics for 47042, IN
4,375
Population
1,930
Households
2.3
Avg Household Size
42
Median Age
21%
College-Educated
88%
High-School Grad
68.3 sq mi
ZIP Area
64
Density / Sq Mi
$74,401
Median Household Income
$45,677
Median Earnings
$717
Median Rent
$178,200
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
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Frequently Asked Questions
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.
