CAP RATE of 9.3%. Turnkey 7-UNIT investment opportunity in this fully occupied, one-level apartment building conveniently located in Mount Summit, IN. Built in 1960, it has a total 3,348 square feet of living area resting on a spacious .537 acre lot. Six of the units are 1 bedroom, one-bathroom and approximately 500 SF each. The 7th unit is an efficiency unit with approximately 350 SF of living space. The spacious lot allows for tenant parking on property. Recent updates include a spacious deck for outdoor gatherings, fresh exterior paint, and coin-op laundry machines. Owner pays all utilities and maintenance. Tenant’s rights apply. (*interior photos have been digitally altered to remove some personal items)
Mount Summit is located in Indiana. Mount Summit, Indiana has a population of 429. Mount Summit is less family-centric than the surrounding county with 6.8% of the households containing married families with children. The county average for households married with children is 28.42%.
The median household income in Mount Summit, Indiana is $58,882. The median household income for the surrounding county is $54,154 compared to the national median of $69,021. The median age of people living in Mount Summit is 39.1 years.
The average high temperature in July is 83.2 degrees, with an average low temperature in January of 17.7 degrees. The average rainfall is approximately 42.7 inches per year, with 23.5 inches of snow per year.
