The Flats at Keystone 4808 Old Tyme Court 18 Unit Apartment Building $8,368,126 CAD ($464,896 CAD/Unit) 7.60% Cap Rate Evansville, IN 47711

The Flats at Keystone presents a rare opportunity to acquire a fully operational, high-performing furnished rental business in the heart of Evansville, Indiana. Purpose-built to serve the region’s corporate housing needs, this flex-term rental community combines upscale residential comfort with hotel-style convenience—making it the preferred choice for professionals, relocation consultants, and extended-stay guests.
The property offers two distinct floor plans:
• The Belvedere – 2 bed / 2 bath, 1,320 sq ft, attached garage, porch and patio
• The Belfry – 2 bed / 1 bath, 785 sq ft, dedicated parking
Each unit is fully furnished with stainless steel appliances, luxury bedding, in-unit laundry, and 55" Smart TVs. High-speed internet and complimentary membership to B-Fit Gym further enhance the guest experience.
The Flats at Keystone maintains consistently high occupancy, driven by long-standing relationships with many of Evansville’s top employers. The Flats at Keystone has served the corporate housing needs of companies such as Toyota Motor Manufacturing, PGP International, Babcock & Wilcox, Seal Corp, Deaconess Health, Ascension St. Vincent, among others. These relationships generate repeat business and stable cash flow, positioning the property as a trusted housing solution for executive teams, travel nurses, and project-based professionals.
With strong brand recognition, streamlined operations, and a proven track record of performance, The Flats at Keystone is priced at a 7.6% CAP rate—offering investors an attractive blend of income stability and long-term growth potential in a thriving regional market.