09/19/2024
I'm about to attend the final tour of the historic apartment complex in Kokomo Indiana this morning!
If you would like me to represent you as your buyer agent, reach out.
If you can't attend in person, I will be taking video!!! And can send it to you if you'd like to work with me and pursue this amazing opportunity.
97% occupancy rate!
Room for growth!
Connect with me to make this investment opportunity happen for you.
Bid starts at $600,000
Registration ends soon!
25 UNITS
AUCTION in 16 DAYS
VIEW BY APPOINTMENT ONLY
๐ ๐ฒ๐๐๐ฎ๐ด๐ฒ ๐บ๐ฒ, Haley ๐๐ผ ๐๐ถ๐ฒ๐ ๐๐ต๐ถ๐ ๐ฝ๐ฟ๐ผ๐ฝ๐ฒ๐ฟ๐๐ ๐ถ๐ป ๐ฝ๐ฒ๐ฟ๐๐ผ๐ป ๐ผ๐ฟ ๐๐ถ๐ฟ๐๐๐ฎ๐น๐น๐
(765) 461-7243
Experience Timeless Elegance and Investment Potential at Historic Mulberry Flats!
Introducing Historic Mulberry Flats, a stunning 25-unit apartment building that stands proudly at 718 West Mulberry Street in Kokomo, Indiana. Built in 1928, this remarkable two-story Victorian/Colonial-style property boasts an impressive 16,625 square feet of charm and character enveloped in a unique courtyard-style design. Set on 0.6 acres of picturesque land, this historic gem offers not only a delightful living experience but also 12 single-car garages, presenting a lucrative additional revenue opportunity.
Unparalleled Amenities Await
Residents are treated to a host of highly desirable amenities that make living at Mulberry Flats a truly exceptional experience. Revel in the beauty of lush courtyard green spaces, and enjoy the convenience of Wi-Fi, ample basement storage, and handy coin-operated laundry facilities that generate income for owners. With an average unit size of 639 square feet, the apartments feature spacious, open floorplans adorned with original wrought iron fixtures, creating a perfect blend of vintage charm and modern comfort. Some units have been tastefully updated with new appliances, cabinets, and countertops, catering to the needs of todayโs discerning residents.
Occupancy is at a remarkable 96%, providing investors with a turnkey opportunity and immediate cash flow that few properties can match.
Prime Location Meets Thriving Demographics
For savvy investors, the Mulberry Flats offer unmatched access to thriving demographics. The nearby 5-mile radius encompasses a vibrant population of 72,000, with an impressive 40% identifying as renters, ensuring a competitive market teeming with potential residents. Enjoy the luxury of walking or biking to Kokomoโs finest attractionsโexperience an eclectic mix of specialty shops, delightful local eateries, retail chains, and essential services at your doorstep.
Engage in the richness of community life with nearby destinations like Foster Park, the family-friendly Kokomo Jackrabbits stadium, and the lively aquatic center. Just 2.5 miles away, the Markland Mall and bustling retail corridors await retail enthusiasts, while convenient access to Highway 31 and West 400 South ensures seamless commutes to Northwest Indianaโs employment and entertainment hubs. Plus, nested comfortably just an hourโs drive from Lafayette and 59 miles south to Downtown Indianapolis, Mulberry Flats is ideally positioned for convenience and accessibility.
Real Estate Market Brilliance
The Kokomo Multifamily Market stands out with a tight-knit community demonstrating a low 5.5% vacancy rate and rapidly escalating rental rates. With occupancy steadily improvingโa drop of nearly 1% in vacancy over the past year and a surge of 7.6% in rental income over the same timeframeโinvestors can be confident in the enduring desirability of this market. Notably, rental rates have experienced a remarkable 23.9% increase over the last three years, cementing Kokomo as one of Indiana's sought-after regions.
With no new constructions emerging in the area, the Historic Mulberry Flats are poised to capture market share and unlock growth potential amidst limited competition. This is not merely an investment; itโs a chance to be part of a beautiful legacy while securing financial success.
Seize Your Opportunity at Mulberry Flats!
Donโt miss the chance to invest in a property that blends historical elegance with modern viability. The Historic Mulberry Flats arenโt just apartments; theyโre a vibrant lifestyle waiting for the right investor to unlock their full potential. Join us in making historyโseize this unparalleled opportunity today!
FULL LISTING HERE: https://www.apartments.com/historic-mulberry-flats-kokomo-in/d4g6tlh/
