3.14.2013

Shady Tree is NOW Available!


Shady Tree Apartments

Investment Highlights:

Foreclosed Property Offered for Quick Sale by Lender: Offers are due on April 26, 2013 and the lender is motivated to complete a quick sale.

Low Price Per Unit: Shady Tree is offered at $2,400,000 or just $19,048 per unit.

High Cap Rate on Readily Achievable Forecast NOI: Assuming only 90% occupancy, the asking price represents an 9.0% cap rate on forecast net operating income. Current occupancy is 74%

Great Opportunity to Add Value: Shady Tree offers an investor the opportunity to create additional value through modest unit upgrades, landscape enhancements, and the institution of a bill-back program for water and sewer utilities.

Located in a Strong Rental Market: Evansville has a healthy economy and an average market occupancy of 93%.

Convenient to Shopping, Employment Centers and Colleges: The area’s primary shopping district
and Ivy Tech Community College (2,400 students) are less than a mile from Shady Tree. The north side location is also attractive to workers at multiple manufacturing facilities.

Quiet, Country-like Atmosphere:
A picturesque creek runs through Shady Tree’s wooded site and the property is bordered by trees on three sides.

Attractive Exterior with Mostly Brick: Low maintenance, mostly masonry exteriors enhance the property’s appearance.

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