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.