12-Unit Apartment
For Sale
$2,100,000
234 Fulkerson Dr, Charlestown, IN 47111
Six two-story buildings offer two-bedroom, two-bath residences with appliance packages and washer and dryer hookups.
Property Size10,800 SF
Lot Size3.06 Acres
Price / SF$194.44
Days on Market16
Property Features for 234 Fulkerson Dr
General Information
Standard status
Active
Size
10,800 SF
Lot size
3.06 Acres
Property subtype
Investment
Zoning
R
Property Condition
Severity
Repairs Needed
Evidence
limited deferred-maintenance requirements
Site & Location
Highway Access
Yes
Road Access
Yes
Units
Unit Mix
12 x 2BR/2BA (900 sf)
Multifamily Units
12
Amenities
Power
Water
Sewer
Building Details
Year Built
2025
Buildings
6
Stories
2
Listing Agency:
VanWingerden Real Estate Advisors, LLC
Listed By:
Tim VanWingerden
(859) 699-2096
Source:
Kcrea.resimplifi
Added: Sep 28
Changed: Oct 13
Last Checked: Oct 13 at 2:42AM
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 VanWingerden Real Estate Advisors, LLC
Investment Insights
Based on property information with market context.
The 12-unit property consists of six two-story buildings constructed in 2025. Each residence has 2 bedrooms, 2 bathrooms and approximately 900 square feet, along with washer and dryer hookups and a full appliance package. The property occupies 3.06 acres and is zoned R. An undeveloped parcel is described as construction-ready and may accommodate another duplex, subject to applicable approvals.
The site is off Monroe Street, within walking distance of Charlestown High School and Charlestown Family Activities Park, and within the Greater Clark County Schools district. River Ridge Commerce Center is nearby; downtown Louisville is approximately 20 minutes away via I-265.
The site is off Monroe Street, within walking distance of Charlestown High School and Charlestown Family Activities Park, and within the Greater Clark County Schools district. River Ridge Commerce Center is nearby; downtown Louisville is approximately 20 minutes away via I-265.
Key Highlights
- 12 residences across six two‑story buildings, built in 2025
- Each unit measures approximately 900 square feet and has 2 bedrooms and 2 bathrooms
- Washer and dryer hookups and full appliance packages in the units
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$113,838
Cap Rate
5.42%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,276,760
$2.3M
Cap Rate 7%
$1,626,257
$1.6M
Cap Rate 9%
$1,264,867
$1.3M
Market Conditions
NOI Build-Up for 10,800 SF
Gross rent
$219.0K $20.28/SF
− Vacancy
−$12.0K −$1.12/SF
EGI
$207.0K $19.16/SF
− OpEx
−$93.1K −$8.62/SF
NOI
$113.8K $10.54/SF
Area
Clark County, IN
Vacancy
5.50%
Lease Rate
$20.28 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,276,760
Cap Rate 7%
$1,626,257
Cap Rate 9%
$1,264,867
Alternative Uses
Best Use
Apartment 5plus
$1.63M
$1.42M – $1.90M
NOI $113,838 @ 7.0% cap · market cap 5.42%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.14M
$2.75M – $3.66M
NOI $219,802 @ 7.0% cap · market cap 10.47%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
12
Residential units
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
167
Businesses Nearby
Explore this area
Business Placement
Demographics for 47111, IN
16,972
Population
7,011
Households
2.4
Avg Household Size
40
Median Age
28%
College-Educated
91%
High-School Grad
86.0 sq mi
ZIP Area
197
Density / Sq Mi
$93,418
Median Household Income
$51,170
Median Earnings
$906
Median Rent
$261,700
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Apartment building - Six two-story buildings offer two-bedroom, two-bath residences with appliance packages and washer and dryer hookups.
Where is this apartment building located?
The property is located at 234 Fulkerson Dr Charlestown, IN.
What is the asking price?
The asking price for this property is $2,100,000.
What are key features of this property?
This property features: 12 residences across six two‑story buildings, built in 2025; Each unit measures approximately 900 square feet and has 2 bedrooms and 2 bathrooms; Washer and dryer hookups and full appliance packages in the units
