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Pine Grove Apartments 3033 S P St 42 Unit Apartment Building $4,039,236 CAD ($96,172 CAD/Unit) 8.16% Cap Rate Elwood, IN 46036
Executive Summary
Ellsbury Commercial Group is pleased to present Pine Grove Apartments, a 42-unit community located in Elwood, IN. The property offers a desirable mix of 8 two-bedroom/one-bath, 27 one-bedroom/one-bath, and 7 studio units.
Spread across seven single-story buildings totaling 25,768 sq. ft., Pine Grove sits on a spacious 4.45-acre lot. Built in 1982, the community is stable with consistent occupancy and tenant-paid electric utilities.
With modest updates and potential rent growth, Pine Grove Apartments provides a compelling opportunity for reliable day-one income alongside future upside.
Spread across seven single-story buildings totaling 25,768 sq. ft., Pine Grove sits on a spacious 4.45-acre lot. Built in 1982, the community is stable with consistent occupancy and tenant-paid electric utilities.
With modest updates and potential rent growth, Pine Grove Apartments provides a compelling opportunity for reliable day-one income alongside future upside.
Property Facts
| Price | $4,039,236 CAD | Building Class | C |
| Price Per Unit | $96,172 CAD | Lot Size | 4.46 AC |
| Sale Type | Investment | Building Size | 25,768 SF |
| Cap Rate | 8.16% | Average Occupancy | 100% |
| No. Units | 42 | No. Stories | 1 |
| Property Type | Multifamily | Year Built | 1982 |
| Property Subtype | Apartment | Parking Ratio | 2.91/1,000 SF |
| Apartment Style | Garden | ||
| Zoning | R-2 - Single family residential | ||
| Price | $4,039,236 CAD |
| Price Per Unit | $96,172 CAD |
| Sale Type | Investment |
| Cap Rate | 8.16% |
| No. Units | 42 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 4.46 AC |
| Building Size | 25,768 SF |
| Average Occupancy | 100% |
| No. Stories | 1 |
| Year Built | 1982 |
| Parking Ratio | 2.91/1,000 SF |
| Zoning | R-2 - Single family residential |
Amenities
Unit Amenities
- Washer/Dryer Hookup
- Heating
- Tile Floors
- Kitchen
- Refrigerator
- Oven
- Range
- Carpet
- Porch
- Window Coverings
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 7 | - | 1 |
| 1+1 | 27 | - | 1 |
| 2+1 | 8 | - | 1 |
1 1
Somewhat walkable
30/100
Exceptionally drivable
100/100
Somewhat bikeable
30/100
Property Taxes
| Parcel Number | 48-04-23-200-016.000-027 | Improvements Assessment | $1,082,794 CAD |
| Land Assessment | $150,148 CAD | Total Assessment | $1,232,942 CAD |
Property Taxes
Parcel Number
48-04-23-200-016.000-027
Land Assessment
$150,148 CAD
Improvements Assessment
$1,082,794 CAD
Total Assessment
$1,232,942 CAD
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Pine Grove Apartments | 3033 S P St
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