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Ossian Age-Restricted Multifamily Communities 301 Parent Dr 46 Unit Apartment Building $7,969,902 CAD ($173,259 CAD/Unit) 6.27% Cap Rate Ossian, IN 46777
Investment Highlights
- Also available as a portfolio with other locations in Kendallville and Marion
- Portfolio includes 134 units across three sites
Executive Summary
Sturges Property Group has been appointed the exclusive agent for the sale of the Ossian Apartment Community, an age-restricted (55+) multifamily property located at 301 Parent Drive in Ossian, Indiana. The 46-unit community is spread across four buildings on approximately 6.28 acres, with a portion of the land to be split at closing, offering investors a substantial multifamily asset with stable income potential.
The community features a desirable unit mix with a majority of units including front-facing garages and in-unit laundry throughout. Tenants are separately metered and responsible for all utilities, minimizing landlord expense exposure.
This offering presents investors with the opportunity to acquire a well-constructed, age-restricted multifamily asset in a growing Northeast Indiana community, with upside potential through future rental rate growth.
Broker’s Note: Please do not visit the property or disturb tenants.
The community features a desirable unit mix with a majority of units including front-facing garages and in-unit laundry throughout. Tenants are separately metered and responsible for all utilities, minimizing landlord expense exposure.
This offering presents investors with the opportunity to acquire a well-constructed, age-restricted multifamily asset in a growing Northeast Indiana community, with upside potential through future rental rate growth.
Broker’s Note: Please do not visit the property or disturb tenants.
Property Facts
Amenities
Unit Amenities
- Washer/Dryer
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 42 | - | - |
| 1+1 | 4 | - | - |
1 1
Property Taxes
| Parcel Number | 90-02-15-200-054.000-009 | Improvements Assessment | $2,108,150 CAD |
| Land Assessment | $75,043 CAD | Total Assessment | $2,183,193 CAD |
Property Taxes
Parcel Number
90-02-15-200-054.000-009
Land Assessment
$75,043 CAD
Improvements Assessment
$2,108,150 CAD
Total Assessment
$2,183,193 CAD
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Ossian Age-Restricted Multifamily Communities | 301 Parent Dr
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