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About
About Baldwin Heights
New Construction with Revenue Upside
Completed in 2021, the current owner does not bill back for water and sewer, and provides bulk internet and cable. Additional revenue could be made by billing back for water/sewer and internet/cable.
7.0% Cap Rate with Five-year Tax Abatement/ 5.8% Cap Rate without Tax Abatement
Baldwin Heights offers immediate cash flow selling at a 7.0% cap rate with a five-year tax abatement in place. Without the abatement, the cap rate is 5.75%.
Near Significant Employment
Toyota Motor Manufacturing | Indiana (7,296 employees) is less than five miles from Baldwin Heights. The company is adding an additional 1,400 employees by the end of 2023. Additional employers nearby include Duke Energy (1,400 emp), Vuteq Corp. (654 emp), Deaconess Gibson Hospital (350 emp) and Hansen Corp. (233 emp).
Desirable Unit Features
All units offer full size washer/dryer connections and machines, open layout, modern kitchens and bathrooms, ceiling fans, and a full appliance package. Units are large, averaging 999 square feet.
Limited Competition
There is very little direct competition for Baldwin Heights. Vail Estates is the only other apartment property that is comparable.
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