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Nashville Flats 522-526 W Colfax Ave 30 Unité Immeuble d’appartements 2 889 768 $ CAD (96 326 $ CAD/Unité) 8,62% Taux de capitalisation South Bend, IN 46601
Certaines informations ont été traduites automatiquement.
Faits saillants de l'investissement
- Current rents below market with projected rental upside
- Strong renter demand supported by proximity to University of Notre Dame, Beacon Health System, and downtown employers
- Optional portfolio expansion opportunity with additional 25 units available across the street
- Prime walkable location steps from downtown South Bend and over $300M in recent and planned development
- Located in a supply-constrained market with ~28,000-unit housing deficit and 6.5% vacancy
- ay-one 8.62% cap rate with upside to 9.87% through rent growth and light renovations
Résumé de l'annonce
Marcus & Millichap is proud to present a unique opportunity to acquire Nashville Flats, a multi-family asset located in the heart of South Bend, Indiana. This property consists of two buildings totaling 29 units with a strategic location offering proximity to local amenities, transportation hubs, and employment centers. Downtown South Bend is in the middle of a real transformation, with over $300 million of active and recent investment anchored by the ballpark district, Notre Dame-backed innovation development, and new multifamily projects.
Nashville Flats benefits from excellent walkability, positioned within a well-established residential neighborhood and just footsteps to downtown South Bend, offering tenants easy access to shopping, dining, and entertainment options. The property’s location is further enhanced by its accessibility to major transportation routes, facilitating commuter access to nearby industrial and commercial hubs. This ensures a steady stream of working professionals seeking residential options in the area, contributing to strong tenant retention and rental income stability.
The opportunity offers an investor a 12+% Cash on Cash return day one with significant upside potential through light unit renovations as well as common area and curb appeal updates. An investor will be able to achieve a near 10% Cap rate and a 17+% Cash on Cash return simply by pushing rents to levels already achieved in the building.
With strong, stable cash flow and increasing demand for well-located rental units, Nashville Flats provides investors with a stable, long term investment opportunity. The property benefits from robust local economic fundamentals, which include consistent population growth and a diversified employment base. As rental demand continues to grow, Nashville Flats is poised to generate strong returns through rent appreciation and occupancy gains, making it an excellent investment for the future.
Nashville Flats benefits from excellent walkability, positioned within a well-established residential neighborhood and just footsteps to downtown South Bend, offering tenants easy access to shopping, dining, and entertainment options. The property’s location is further enhanced by its accessibility to major transportation routes, facilitating commuter access to nearby industrial and commercial hubs. This ensures a steady stream of working professionals seeking residential options in the area, contributing to strong tenant retention and rental income stability.
The opportunity offers an investor a 12+% Cash on Cash return day one with significant upside potential through light unit renovations as well as common area and curb appeal updates. An investor will be able to achieve a near 10% Cap rate and a 17+% Cash on Cash return simply by pushing rents to levels already achieved in the building.
With strong, stable cash flow and increasing demand for well-located rental units, Nashville Flats provides investors with a stable, long term investment opportunity. The property benefits from robust local economic fundamentals, which include consistent population growth and a diversified employment base. As rental demand continues to grow, Nashville Flats is poised to generate strong returns through rent appreciation and occupancy gains, making it an excellent investment for the future.
Faits sur la propriété
| Prix | 2 889 768 $ CAD | Style d’appartement | De faible hauteur |
| Prix par unité | 96 326 $ CAD | Classe d’immeuble | C |
| Type de vente | Investissement | Taille du lot | 0,42 AC |
| Taux de capitalisation | 8,62% | Taille du bâtiment | 16 962 pi² |
| Multiplicateur du loyer brut | 7.39 | Nombre d’étages | 2 |
| Nombre d’unités | 30 | Année de construction/rénovation | 1966/1972 |
| Type de propriété | Immeuble residentiel | Ratio de stationnement | 2/1 000 pi² |
| Sous-type de propriété | Appartement |
| Prix | 2 889 768 $ CAD |
| Prix par unité | 96 326 $ CAD |
| Type de vente | Investissement |
| Taux de capitalisation | 8,62% |
| Multiplicateur du loyer brut | 7.39 |
| Nombre d’unités | 30 |
| Type de propriété | Immeuble residentiel |
| Sous-type de propriété | Appartement |
| Style d’appartement | De faible hauteur |
| Classe d’immeuble | C |
| Taille du lot | 0,42 AC |
| Taille du bâtiment | 16 962 pi² |
| Nombre d’étages | 2 |
| Année de construction/rénovation | 1966/1972 |
| Ratio de stationnement | 2/1 000 pi² |
Commodités
Commodités des unités
- Climatisation
- Chauffage
- Cuisine
- Accès Internet à haute vitesse
- Réfrigérateur
- Four
Commodités du site
- Installations de lessive
- Wi-Fi communautaire
Unité renseignements sur le mélange
| Description | Nombre d’unités | Loyer moyen/mois | pi² |
|---|---|---|---|
| Studios | 12 | - | 600 |
| 1+1 | 14 | - | 750 |
1 1
Moyennement practicable à pied
60/100
Très facile d'accès en voiture
80/100
Transports en commun limités
30/100
Moyennement praticable en vélo
70/100
Impôts fonciers
| Numéros de lot | Évaluation des bâtiments | 671 802 $ CAD | |
| Évaluation du terrain | 15 963 $ CAD | Évaluation totale | 687 765 $ CAD |
Impôts fonciers
Numéros de lot
Évaluation du terrain
15 963 $ CAD
Évaluation des bâtiments
671 802 $ CAD
Évaluation totale
687 765 $ CAD
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Nashville Flats | 522-526 W Colfax Ave
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