1517 Jeanette Ave Evansville, IN 47714

This exceptional investment opportunity presents a well-maintained, three-building apartment complex in Evansville, Indiana. The property, known as Peyton Place Apartments, comprises 18,857 square feet and sits on a 0.46-acre lot at 1517 Jeanette Ave, 47714. Built in 1970, the two-story brick buildings feature a mix of 21 one-bedroom units and one efficiency apartment. Currently boasting a 93.5% occupancy rate (as of October 2024), with only two vacant units, this property demonstrates historically stable occupancy. The property's strong financial performance is highlighted by a 6.60% cap rate and a Net Operating Income (NOI) of $89,078. The property is zoned R-3 and benefits from a convenient location near S. Green River Road, McGary Middle School, and Holy Rosary Catholic School/Church, with easy access to Evansville's public transportation. The property's strong cash flow, stable occupancy, and desirable location make it an attractive investment for discerning buyers. The Assessor's Parcel Number (APN) is 82-06-35-011-151.001-027. This is a turnkey opportunity to acquire a profitable multifamily asset in a growing market. The asking price is $1,350,000.