Foxfire Apartments

Multi-Family for Sale
Catylist Listing ID: 30427363
Property Subtypes: Low-Rise/Garden
Number of Units: 132 Units
Building Size (RSF): 124,989 SF
Gross Building Area: See Agent
Gross Land Area: 6.24 SF
Sale Price: $8,700,000
Unit Price: $65,909.09 Per Unit
Property Use Type: Investment
Sale Terms: Cash to Seller, Purchase Money Mortgage
Last Updated: 5/14/2019

Overview / Comments

SVN | The Martin Group is proud to offer for sale Foxfire Apartments, a 132-unit apartment community located less than 3 miles from Downtown and 3 miles from the University of Southern Indiana. This community is nestled on a hill overlooking some of the best shopping, dining, and entertainment venues in the region.

This 3-story property offers a mix of 1- and 2-bedroom units. The property is surrounded by trees offering seclusion and privacy to residents. Amenities include a community pool (upgraded to salt water in April 2019), fitness center, and coin laundry. Covered parking is available for an additional fee. Community pays water, sewer, cable/internet, and trash pickup. Tenants pay electric.

Inside the apartments, all units offer a patio/balcony, large closets, and exterior storage. Select units have a fireplace - a popular feature for tenants. Owner has upgraded carpet to luxury vinyl tile in most living areas.

Apparent vacancy in the Evansville market was 3.9% as of 4Q18 per REIS - better than Indianapolis (5.4%) or Louisville (5.6%). Foxfire has typically enjoyed high occupancy under current ownership.

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Additional Details

Nearest MSA: Evansville
County: Vanderburgh
Tax ID/APN: 82-05-27-019-012.047-025
Zoning: R-3
Percent Occupied: 97%
Community Amenities: Outdoor Pool, Community Building, Exercise Room, On-Site Maintenance
Total Number of Buildings: 5
Property Condition: Good
Number of Stories: 3
Year Built: 1981
Construction/Siding: Vinyl Siding
Parking Type: Surface
Laundry: Shared
Sprinklers: None
Heat Type: Electricity
Heat Source: Central
Fuel: Electric
Air Conditioning: Package Unit
Internet Access: Cable
Water Service: Municipal
Sewer Type: Municipal

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 6,285 31,968 86,383
Median Age: 32.85 36.04 37.4
Households: 2,862 12,977 35,070

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