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953 S 23rd St, Richmond, IN 47374

Commercial property for sale

  • Description
  • MAJOR PRICE REDUCTION! Summit Realty Group has been retained as the exclusive investment advisor in the REO sale of Country Club Apartments, a 312-unit property located in Richmond, Indiana. Country Club was placed into Receivership in 2011 and has benefitted from professional management since February 2012. The acquisition of Country Club presents an opportunity to create value through stabilization of the property. INVESTMENT HIGHLIGHTS VALUE-ADD Significant upside exists in continued lease-up and rehab of down units. All market-ready units at Country Club are leased, comparable market occupancy in Richmond is 91%. Rents at Country Club currently average $0.56 psf, well below the comparable property average of $0.70 psf. Country Club is currently assessed at $5,582,000 - providing an opportunity for an immediate tax appeal upon a sale. LOCATION Richmond, Indiana is located between Dayton and Indianapolis and is home to Reid Hospital, the largest employer in the county. The city also boasts several major universities such as Indiana University East, Ivy Tech, Purdue College of Technology and Earlham College. These higher learning centers combine to educate nearly 9,000 and employ more than 2,000. Building price details: $3,800,000.
  • Property Details
  • Building Name: Country Club Apartments
    Property Type: Multifamily
    Use Types: Low-Rise/Garden
    Status: Available
    Price: $ 12,179 +/Unit
    MSA: Richmond
    Zoning: M2 R2
    Buildings: 1
    Terms: Cash to Seller
    Added: 09/13/2012
    Last Update: 12/29/2012
  • Contact info
  • 317-269-1000 [Office]
  • Note

  • Details Info about this row that located on 953 S 23rd St, Richmond, IN 47374 was got from trusty sources, but All Foreclosures Homes can't guarantee that details about listing price, status, facts, images and owner are correct, because this listing can be changed or removed from market without notice. If You need to receive additional details about this property try to ask directly listing agent or owned.

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