1143 1163 Covert Ave

Multi-Family for Sale
Catylist Listing ID: 30586595
Property Subtypes: Low-Rise/Garden, Other
Number of Units: 39 Units
Building Size (RSF): 34,470 SF
Gross Land Area: 1.48 Acres
Sale Price: $1,265,000
Unit Price: $32,435.90 Per Unit
Property Use Type: Investment
Sale Terms: Cash to Seller
Cap Rate: 9.5%
Last Updated: 7/2/2020

Overview / Comments

The Phoenix is a 39 unit complex consisting of three buildings with 13 units each. Located on the SW corner of Highway 41 and Covert. Each building has a new boiler. Middle building has a laundry area that produces income. Current owner has worked hard rehabbing the units as needed, while building a new tenant base that pays their own electric. Water, trash, and sewer are included. Units are smoke free and pet free. Professionally managed and vacant units rent quickly. Opportunity to increase below market rents. Seller is a licensed real estate agent.

"Disclosure and Waiver Prior to Physical Showings must be signed before showing."

Additional Details

Nearest MSA: Evansville
County: Vanderburgh
Tax ID/APN: 82-06-33-011-035.001-027
Zoning: R-4
Highway Access: Highway 41
Airports: Evansville Regional Airport
Total Number of Buildings: 3
Year Built: 1974
Construction/Siding: Brick
Parking Description: 44 +/-; on street
Water Service: Municipal
Sewer Type: Municipal

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 16,087 70,768 132,018
Median Age: 34.84 36.73 37.82
Households: 6,408 29,604 56,925
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