1320 Parrett St Evansville, IN 47713
- Commercial real estate
- 18,300 SF
- 0.60 lot acres
Current Use by Public Records
- Commercial real estate
Property Details for 1320 Parrett St
- Year built
- 1965
- Lot size
- 0.60 lot acres
- Property size
- 18,300 SF
- Property type
- Commercial real estate
- APN
- 820632022032017029
Description
This Evansville, Indiana multifamily property presents a compelling investment opportunity. The 35-unit apartment building, situated on a 0.6-acre lot at 1320 Parrett St, boasts 18,300 square feet and offers a strong 8.38% cap rate, generating a net operating income (NOI) of $221,622. The asking price is $2,645,000, translating to $75,571 per unit and $144.54 per square foot. Built in 1965 and fully renovated in 2021, the two-story building includes updated electrical systems and offers 18 parking spaces. The property benefits from an additional income stream generated by community washers and dryers, enhancing its profitability. Its prime location in Evansville, Vanderburgh County, IN 47713, combined with the recent renovations and modern amenities, makes this a highly attractive investment prospect with significant potential for return. The property's APN is 820632022032017029. This is a turnkey opportunity for investors seeking a well-maintained, high-performing multifamily asset in a desirable location.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Evansville
- County
- Vanderburgh
- State
- Indiana
- Longitude
- -87.56525733
- Latitude
- 37.95868818
