4214 Otterbein Ave Indianapolis, IN 46227
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25-unit student housing portfolio, 73 beds, 6.5% cap rate.
Property size:
30,059 SFProperty Features for 4214 Otterbein Ave
General Information
- Property type
- Multifamily properties
- Square Feet
- 30,059 SF
Building Details
- Buildings
- 21
- Units
- 25
Listing Agency: Lee & Associates Indianapolis Listing Agent: Bob Lindgren
Displayed information is deemed reliable but is not guaranteed and should be independently verified.
Overview
This exceptional investment opportunity presents a portfolio of 21 buildings comprising 25 student housing units, totaling 30,059 square feet of net rentable space. Located in Indianapolis, Indiana, near the University of Indianapolis campus, this portfolio boasts a 100% occupancy rate for the 2023-2024 school year, offering immediate cash flow. The properties are situated in Marion County, with addresses spanning several streets in the 46227 zip code, including Otterbein Avenue, Castle Avenue, Hanna Avenue, Randolph Street, and Walcott Street. Each unit averages a substantial 194,480 dollars, reflecting a strong price per unit of $148.04 per square foot. The portfolio's strategic location, just blocks from the university and within close proximity to downtown Indianapolis, Garfield Park, and Fountain Square, ensures consistent high demand. The properties are zoned for single-family residential use (SFR), providing flexibility and potential for future development. This is a turnkey investment with a compelling 6.50% capitalization rate, making it an attractive addition to any real estate portfolio. The asking price for the entire portfolio is $4,450,000. The portfolio offers a rare opportunity to acquire a fully leased, high-performing student housing asset in a desirable location.
Property Profile
Location Intelligence
Current Use by Public Records
Dormitories
Location Insight
- Map
- Local Demand
- City
- Indianapolis
- County
- Marion
- State
- Indiana
- Longitude
- -86.13414098942
- Latitude
- 39.703887201438
Nearby Similar for Sale
FAQs
What type of property is this?
Multifamily property - 25-unit student housing portfolio, 73 beds, 6.5% cap rate.
Where is this multifamily property located?
The property is located at 4214 Otterbein Ave Indianapolis, IN.
What is the asking price?
The asking price for this property is $4,450,000.
What are key features of this property?
This property features: 21-building student housing portfolio totaling 30,059 square feet of net rentable space.; 100% occupancy for the 2023-2024 school year, providing immediate cash flow.; Located near the University of Indianapolis in Indianapolis, IN (46227 zip code).
