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Listed by Steven Koleno • Beycome Brokerage Realty LLC
$279,900
Est. payment /mo
5,916 SqFt
UPDATED:
Key Details
Property Type Commercial
Sub Type Multi-Family 5+
Listing Status Active
Purchase Type For Sale
Square Footage 5,916 sqft
Price per Sqft $47
MLS Listing ID 22091411
Tax Year 2025
Lot Size 4,356 Sqft
Acres 0.1
Property Sub-Type Multi-Family 5+
Property Description
6-unit brick multifamily in Terre Haute, IN. All major systems replaced in 2021 (plumbing, electrical, roof, HVAC, water heaters) 3 units renovated in 2025. Electric separately metered - tenants pay own electric. 5 of 6 units occupied with $3,315/month in-place rents. Unit 5 vacant - immediate lease-up upside. Water/sewer currently owner-paid with no recapture - new owner can implement flat fee billing and push NOI with zero capex. Diverse unit mix: 13BR, 22BR, 31BR. Located in a 4-university market (Indiana State, Rose-Hulman, Saint Mary-of-the-Woods, Ivy Tech). 8.9 cap rate on stabilized NOI. Pro-forma 9 with Unit 5 leased and utility recapture in place.
Location
State IN
County Vigo
Rooms
Basement Finished
Interior
Cooling Window Unit(s)
Fireplace N
Exterior
Utilities Available See Remarks
Building
New Construction false
Schools
School District Vigo County School Corp
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