About Echo Ridge
Echo Ridge is a 2002 built property located in a desirable infill location that benefits from limited nearby competition. While well maintained, the property has largely original finishes and amenities and offers the ability to increase revenue with untapped renovation opportunities. The existing unit layouts and features can be easily enhanced and result in premiums of more than $75 / month. With 9-foot ceilings on the first floor and vaulted ceiling on second floor, each floorplan offers spacious living areas.
Located in Franklin Township on the southeast side of Indianapolis, Echo Ridge enjoys exceptionally easy and convenient access to downtown Indianapolis, local restaurants, employment and medical facilities.
Echo Ridge offers very attractive assumable Fannie Mae debt already in place. Debt terms include a low 4.43% interest rate, interest only payments until November of 2022 and loan maturity not until October of 2032.
Echo Ridge can be purchased individually or as part of a 600 unit, 3 property portfolio to include Pheasant Run – 184 units and English Village 208 units.
All three properties are located on the southeast side of Indianapolis, and a portfolio purchases offers economies of scale.