About 2600 6th Street
Great investment opportunity featuring a 44-unit apartment community comprised of 2BD/1BA units (~900 SF) across 10 buildings. Property maintains strong occupancy (~95%) with recent leases achieving $875–$895 per unit, plus a $50/month utility reimbursement for water, sewer, and trash. Tenants pay electric, providing low owner utility exposure. Current ownership has implemented a proven rent growth strategy, with continued opportunity to standardize remaining units and increase income. The property generates approximately $278,000+ in net operating income, offering an attractive ~9% cap rate at the current list price. Recent improvements include HVAC upgrades, unit renovations, and a new lift station (2020), reducing near-term capital expenditure needs. Additional updates throughout include flooring, paint, appliances, and mechanical improvements.
Features of 2600 6th Street
| MLS® # | 202611761 |
|---|---|
| Price | $3,000,000 |
| Bedrooms | 88 |
| Bathrooms | 44.00 |
| Full Baths | 44 |
| Square Footage | 34,212 |
| Acres | 5.55 |
| Year Built | 1985 |
| Type | Multifamily |
| Sub-Type | Apartment Complex |
| Style | Other |
| Status | Active |
Community Information
| Address | 2600 6th Street |
|---|---|
| Subdivision | None |
| City | Bedford |
| County | Lawrence County |
| State | IN |
| Zip Code | 47421 |
Amenities
| Amenities | None |
|---|---|
| Features | Countertops-Laminate, Deck Open, Water Heater Electric |
| Parking Spaces | 88 |
| Parking | Lot |
| Is Waterfront | No |
| Has Pool | No |
Interior
| Interior | Carpet, Laminate |
|---|---|
| Heating | Electricity, Conventional |
| Cooling | Central Air |
| # of Stories | 2 |
| Stories | One Story |
| Has Basement | Yes |
| Basement | Crawl |
Exterior
| Exterior | Vinyl, Wood |
|---|---|
| Lot Description | Partially Wooded |
| Roof | Shingle |
| Construction | No |
| Foundation | Block |
School Information
| District | North Lawrence Community Schools |
|---|---|
| Elementary | Lincoln |
| Middle | Bedford |
| High | Bedford-North Lawrence |
Additional Information
| Days on Market | 156 |
|---|---|
| Foreclosure | No |
| RE / Bank Owned | No |
| HOA Fees Freq. | Not Applicable |
Listing Details
| Agent | Amy Rhoda |
|---|---|
| Office | Revestco LLC |