2600 6th St, Bedford, IN 47421
- $3,000,000
- 88
- BD
- 44
- BA
- 34,212
- SqFt
Listing courtesy of from Revestco LLC.
- List Price
- $3,000,000
- Status
- ACTIVE
- MLS#
- 202611761
- Style
- Other
- Year Built
- 1985
- Days On Market
- Unknown
- Bedrooms
- 88
- Bathrooms
- 44
- Living Area
- 34,212
- Township
- Shawswick
Property Description
Great investment opportunity featuring a 44-unit apartment community comprised of 2BD/1BA units (~900 SF) across 10 buildings. Property maintains strong occupancy (~95%) with recent leases achieving $875–$895 per unit, plus a $50/month utility reimbursement for water, sewer, and trash. Tenants pay electric, providing low owner utility exposure. Current ownership has implemented a proven rent growth strategy, with continued opportunity to standardize remaining units and increase income. The property generates approximately $278,000+ in net operating income, offering an attractive ~9% cap rate at the current list price. Recent improvements include HVAC upgrades, unit renovations, and a new lift station (2020), reducing near-term capital expenditure needs. Additional updates throughout include flooring, paint, appliances, and mechanical improvements.
Additional Information
- Acres
- 5.55
- Taxes
- $42,119
- Lot Features
- Part Wooded
- Water
- City
- Heating
- Electric
- Cooling
- Central Air
- Flooring
- Carpet, Laminate
- School District
- North Lawrence Community Schools
- Elementary School
- Lincoln
- Middle School
- Bedford
- High School
- Bedford-North Lawrence
IDX information is provided by the Indiana Regional MLS and is exclusively for the consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data is deemed reliable but is not guaranteed accurate by the MLS.
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