Park Place Apartments 2600 6th St 44 Unit Apartment Building $4,110,000 CAD ($93,409 CAD/Unit) 9.30% Cap Rate Bedford, IN 47421

44-Unit Multifamily Investment Opportunity – Park Place Apartments
Park Place Apartments is a 44-unit multifamily community located in Bedford, Indiana, offering strong in-place cash flow with additional upside through continued rent growth and operational efficiencies.
The property consists of 2-bedroom, 1-bath units averaging approximately 900 square feet and is currently operating at strong occupancy levels. Current rents are being achieved in the $875–$895 range, along with a $50/month utility reimbursement for water, sewer, and trash. Tenants are responsible for electric, contributing to an efficient expense structure.
Ownership has completed significant capital improvements over the past several years, including HVAC replacements, unit renovations, and addressing deferred maintenance. As a result, the property is transitioning into a more stabilized operating profile with improved overall condition.
Historical financials reflect elevated expenses during the improvement period. With those upgrades now largely complete, operations are stabilizing, and the property supports a projected NOI of approximately $275,000 based on current rent levels and normalized expenses.
This opportunity offers investors a combination of stabilized performance and continued upside, with the heavy lifting already completed and the ability to further enhance returns through rent standardization and operational efficiencies.
Financials, rent roll, and additional documentation available upon request.