A62

Posted: 6/17/2021
209 Units
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Virtual Tours

1 Bedroom Model
2 Bedroom
2 Bedroom Upgrade
Large 1 Bedroom

About

About A62

1. 5.4% TRAILING CAP RATE & 6%+ T-12 RENT GROWTH

Due to high demand, A/62 has maintained 95%+ occupancy for many years and has consistently grown revenue. Rental rates grew by more than 6% over the past year. This was organic growth and not as a result of unit upgrades. A/62 offers reliable cash flow day one and the whisper price represents a 5.4% Trailing 3 Cap Rate.

2. Clear Path to Unit/Amenity Upgrades & Rent Premiums

While well maintained, units have largely classic finishes allowing the new owner to execute a unit upgrade program.

3. Recent Capital Improvements Completed

Current owner has spent more than $2M and completed major capital improvements including roof and balcony replacement. New owner can now simply focus on revenue generating enhancement such as unit upgrades.

4. Sought After Northside Location - $94k Avg HHI

Located on the Northside of Indianapolis, the average household income is $94,000 in the 2 mile radius. A/62 Residents enjoy convenient access to some of the city’s best retail, restaurants and vast employment nearby.

5. Offered Free & Clear

The ability to purchase A/62 free and clear allows new owners to take advantage of current all-time low rates, interest only periods and maximum leverage which all increase buyer returns.