26-Unit Apartment Building
For Sale
$1,795,000
645 Riley Blvd, Bedford, IN 47421
Late-1980s duplex community with private exterior entrances and in-unit washer and dryer connections.
Property Size19,312 SF
Lot Size3.24 Acres
Days on Market152
Property Features for 645 Riley Blvd
General Information
Standard status
Active
Size
19,312 SF
Lot size
3.24 Acres
Property subtype
Multifamily
Occupancy
94%
Financials
Cap Rate
7.9%
Average Monthly Rent
$828
Additional Details
Multifamily Units
26
Amenities
private exterior entries
in-unit washer/dryer connections
Light Value-Add with Washer/Dryer Hookups
7.90 Percent Going-In Cap Rate
Late 1980s Construction
All Duplex Units, Separate Exterior Entrances
8 Water Heaters Replaced in Last Two Years
10 A/C Units have been Replaced in Last Two Years
Building Details
Building Size
19,312 SF
Buildings
13
Units
26
Listing Agency:
Indianapolis Office
(317) 218-5347
Listed By:
Jack Friskney · License #IN: RB20001637
(317) 218-5347
Source:
Marcusmillichap
Added: Apr 3
Changed: Aug 29
Last Checked: Aug 29 at 10:40PM
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 Indianapolis Office
Investment Insights
Based on property information with market context.
Riley Blvd Duplexes is a 26-unit apartment community comprising 13 duplex buildings on 3.24 acres in Bedford, Indiana. The late-1980s property provides residents with private exterior entrances and in-unit washer and dryer connections. No major near-term capital expenditures are identified, while interior updates and operational improvements are described as avenues for repositioning.
The community is located at 645 Riley Blvd and reports 100% occupancy. The going-in cap rate is 7.90%. Within five miles, the vacancy rate is 3.2%. Local employment anchors identified for the area include General Motors Powertrain, IU Health Bedford, and Indiana Limestone Company. The property information also cites approximately 17.50% rental-rate positioning below comparable properties, supporting a measured interior-update and management strategy.
The community is located at 645 Riley Blvd and reports 100% occupancy. The going-in cap rate is 7.90%. Within five miles, the vacancy rate is 3.2%. Local employment anchors identified for the area include General Motors Powertrain, IU Health Bedford, and Indiana Limestone Company. The property information also cites approximately 17.50% rental-rate positioning below comparable properties, supporting a measured interior-update and management strategy.
Key Highlights
- 26 units across 13 duplex buildings
- 3.24‑acre apartment community at 645 Riley Blvd, Bedford, IN 47421
- Late‑1980s construction with private exterior entrances
Property Analytics
Property Profile
Current Use
Lease Details
26
Residential units
Location Intelligence
Trade Area within ½ mile
47
Businesses Nearby
Explore this area
Business Placement
Demographics for 47421, IN
27,798
Population
13,112
Households
2.1
Avg Household Size
44
Median Age
21%
College-Educated
91%
High-School Grad
184.4 sq mi
ZIP Area
151
Density / Sq Mi
$66,588
Median Household Income
$39,613
Median Earnings
$827
Median Rent
$165,200
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 - Late-1980s duplex community with private exterior entrances and in-unit washer and dryer connections.
Where is this apartment building located?
The property is located at 645 Riley Blvd Bedford, IN.
What is the asking price?
The asking price for this property is $1,795,000.
What are key features of this property?
This property features: 26 units across 13 duplex buildings; 3.24‑acre apartment community at 645 Riley Blvd, Bedford, IN 47421; Late‑1980s construction with private exterior entrances
