8.08.2014

Multifamily Investment Opportunity: Stonebrook at Scottsburg


Here is a new opportunity to invest in Scottsburg, Indiana. For more information or to download a full offering memorandum visit our website HERE.


Stonebrook at Scottsburg Investment Hightlights

Exceptional Price for Stabilized Property: Offered at $1,950,000, or less than $24,000/unit - an excellent price for a stabilized, well maintained property.

Offered at Attractive Cap Rate on both Forecast and Actual NOI: The offering price represents a 9.5% forecast cap rate using current rental rates and occupancy. Based on Trailing 9 month NOI, the cap rate is 8.4%.

Recent Capital Improvements: Over $400,000 in capital improvements have been completed by the owner since 2011 on items including turning/updating 70+ units, refurbishment of common landings and exterior stairs, roofing repairs, asphalt repair/replacement at the 5th street location, playground equipment, addition of business center, new signage, updated landscaping, new exterior lighting, mitigation of aluminum wiring and more.

Favorable Unit Mix: Stonebrook of Scottsburg is comprised of a mix of 60 One Bedroom units and 24 Two Bedroom units in 6 two story brick buildings.

Excellent Location Between Louisville and Indianapolis:  The city of Scottsburg is located 33 miles north of Louisville, KY and 84 miles south of Indianapolis, IN making travel to both large cities convenient.
Attractive Mostly Brick Exterior: The property has a low maintainance mostly brick veneer exterior adding to its overall curb appeal.

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