The Cedars Apartments 1010 W Bethel Rd Immeuble residentiel 54 lots 3 510 322 € (65 006 €/Lot) Taux de capitalisation 7,02 % Muncie, IN 47303

The Cedars is a 54 unit property conveniently situated within walking distance of Ball State University. The unit mix is well-suited to the high demand in the area, with a focus on efficient and popular 1-bedroom floor plans tailored for students. Its prime location attracts a diverse tenant base, including students, families, and young professionals.
Ball State University, located in Muncie, Indiana, is a public research university. It was founded by the Ball Brothers in 1917 and has grown to enroll over 20,000 students annually from various countries. The university offers over 120 undergraduate major and minor areas of study, along with more than 100 master's, doctoral, certificate, and specialist degrees. The campus hosts over 400 student organizations and clubs, including 31 fraternities and sororities. The athletic programs, known as the Cardinals, compete in Division I of the NCAA and are members of the Mid-American Conference.
Notably, rental income has seen a substantial increase of almost 15% in the past six months following the transition to new management. The prospective new owner also has the opportunity to convert five garages into additional studio apartments. Moreover, the current management team is open to continuing their management of the property post-sale.