Multifamily Property for Sale in Plymouth, IN

  • Price: Contact for price
  • Listing type: For sale
  • Asset type: Multifamily Property
  • Location: Plymouth, IN 46563

Description

Marcus & Millichap proudly presents this exceptional investment opportunity in Plymouth, Indiana, the River Gate South Apartments. River Gate South is a 40-unit, mid-rise multifamily community located at 119 E Lake Ave in downtown Plymouth, Indiana. Built in 2019, the property offers a modern, boutique-style product that is highly differentiated from the surrounding housing stock. Positioned on the south bank of the Yellow River and a bridge crossing away from downtown Plymouth, the asset benefits from a highly desirable location in one of the most walkable pockets in town, supporting consistent tenant demand. The property features larger unit sizes, in-unit laundry, elevators and high-end amenities like a gym, barbecue/picnic outdoor space, rooftop decks and a media room, all uncommon in the Plymouth market. River Gate South offers investors the opportunity to acquire a newer, institutional-quality asset in a supply-constrained Midwest market. The combination of modern construction, a walkable downtown riverfront location, and limited competitive inventory supports long-term stability and rent growth. Investment Highlights: • 2019 Construction • Spacious One, Two, and Three-Bedroom Units • Best in Market Amenities, Private Balconies, and In-Unit Laundry • Over Seven Percent Cap Rate Day One with Significant Upside Through Operational Efficiencies and Maximizing Rents Supported by Comps

Market Context

This multifamily in Plymouth, IN is listed for sale. It is offered at an approximate 7.1% capitalization rate, a key benchmark for income-producing multifamily assets. It has been on the market for 68 days. Compare it against other multifamily listings for sale in Plymouth, IN — <a href="/search/sale/multifamily/indiana/plymouth">view the full market</a>.

As of Q1 2025, the Minneapolis multifamily market showed a 21.8% vacancy rate. Source: Consensus Q1 2025 market report.

Above-average vacancy gives buyers leverage and a wide set of comparables.

Multifamily market FAQ

Is the Minneapolis multifamily market tightening or softening?
Vacancy is around 21.8% (Q1 2025).

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