SVN is proud to present this opportunity to acquire three 4-plex buildings containing 12 units on Evansville's east side. All are townhouse design with 3 bedrooms, 1.5 bath, and have washer & dryer hookups. The lower level has a living room, kitchen and dining area with a half bath. All bedrooms and full bath are on the upper level. Tenant pays all utilities including water. Long time owner has put new roofs on all buildings within the last 3 years.

Upside to income exists as current rents are $575/mo and well below HUD FY2016 Fair Market Rent for Section 8 in Evansville IN-KY MSA ($933/mo for 3 bedroom apartments). Owner has not pursued Section 8 voucher holders.

Property is located on Jeanette Avenue north of Covert Avenue, 0.6 miles west of South Green River Road, one block west of Professional Boulevard. Nearby medical employers include St Mary's Hospital, HealthSouth Deaconess, and Evansville Dialysis as well as many private physician offices. Nearby shopping choices include Walmart Market, Priceless Foods, and Family Dollar.

Location Description:

Evansville, IN

Highlights:

>> New roofs

>> Good historic occupancy

>> All utilities separately metered

>> Upside to rents

* Email for additional photos

Sales Info:

>> Cap rate: 10.65%

>> Commision split: 3.375%

>> NOI: $44199