Boston Way
- 8.1% CAP | 24.0% IRR on a 10-year hold
- Gross Revenue increased 9.3% in 2025. NOI increased 16.9%.
- Occupancy was 87% in 2025 presenting further upside potential with increased utilization
- High-end clientele with established corporate relationships
- Close to shopping and dining options
- Easy access to I-69 and major roadways
Property Description
The Flats at Keystone presents a rare opportunity to acquire a fully operational, high-performing furnished rental business in the heart of Evansville, Indiana. Purpose-built to serve the region’s corporate housing needs, this flex-term rental community combines upscale residential comfort with hotel-style convenience—making it the preferred choice for professionals, relocation consultants, and extended-stay guests. The property offers two distinct floor plans: • The Belvedere – 2 bed / 2 bath, 1,320 sq ft, attached garage, porch and patio • The Belfry – 2 bed / 1 bath, 785 sq ft, dedicated parking Each unit is fully furnished with stainless steel appliances, luxury bedding, in-unit laundry, and 55" Smart TVs. High-speed internet and complimentary membership to B-Fit Gym further enhance the guest experience. The Flats at Keystone maintains consistently high occupancy, driven by long-standing relationships with many of Evansville’s top employers. The Flats at Keystone has served the corporate housing needs of companies such as Toyota Motor Manufacturing, PGP International, Babcock & Wilcox, Seal Corp, Deaconess Health, Ascension St. Vincent, among others. These relationships generate repeat business and stable cash flow, positioning the property as a trusted housing solution for executive teams, travel nurses, and project-based professionals. With strong brand recognition, streamlined operations, and a proven track record of performance, The Flats at Keystone is priced at a 8.1% CAP rate—offering investors an attractive blend of income stability and long-term growth potential in a thriving regional market.
Key Property Information
| Listing Status: | Unavailable |
|---|---|
| Listing Type: | Call for offers |
| Property Types: | Apartment Buildings |
| Price: | $6,049,000 |
| No. of Units: | 18 |
| Year Built: | 2024 |
| Lot Size: | 1.15 Acres |
| Opportunity Zone: | No |
| Price per unit: | $336,056 |
| Property Website | Click Here |
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