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    4214 Otterbein Ave Indianapolis, IN 46227

    Sponsored
    For Sale
    $4,450,000

    25-unit student housing portfolio, 73 beds, 6.5% cap rate.

    Property size:
    30,059 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    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 Features for 4214 Otterbein Ave

    General Information

    Property type
    Multifamily properties
    Square Feet
    30,059 SF

    Building Details

    Buildings
    21
    Units
    25

    HighLights

    • 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).
    • Strong price per square foot of $148.04, with an asking price of $4,450,000 and a 6.50% capitalization rate.
    • Zoned for single‑family residential use (SFR), offering development potential.
    Property Profile Location Intelligence

    Current Use by Public Records

    Dormitories

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Indianapolis
    County
    Marion
    State
    Indiana
    Longitude
    -86.13414098942
    Latitude
    39.703887201438

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    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).
    Request Owner's contact information
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    4214 Otterbein Ave Indianapolis, IN 46227
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