Lake Marina

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About Lake Marina

5.7% Trailing Cap Rate with Remaining Upside

The property offers immediate cash flow selling at a 5.7% T-3 Cap Rate. A new owner could implement rent premiums for lake views, unit upgrades or washer/dryer connections on day one to organically push rents. Fully upgrading all units and adding amenities could reduce loss to lease and increase rents on turnover.

Stable, Long-term Operations

Self-managing, long-term owners and on-site staff bring a wealth of property knowledge. The 17% average increase on lease trade-out (new leases), 16% increase on the last 3 leases, renewal rate of 57%, and consistently high occupancy are a result of stable, long-term operations.

Lakefront Property W/Unique Unit Features

Lake Marina offers residents unique property features including a large, gorgeous stocked lake. Over 48% of units are loft-style with vaulted ceilings and washer/dryer in the unit. Other popular elements include private entrances, large closets and bright open layouts.

High Traffic, High Visibility Location

Lake Marina is located adjacent to I-70, giving residents quick and convenient access to Indy's vibrant, employment-rich Downtown. With nearly 65K cars passing by daily, the property benefits from great visibility and a high volume of “drive by” leasing traffic.

Resurgence of Indianapolis' East Side

Indianapolis' far east side is showing upward trends in several indicators including occupancy and rent growth. The submarket also offers access to vast employment including Emmett J. Bean Federal Center (4,800+ employees), Community Hospital North, Finish Line, Adidas Group and Amazon, Walmart and CVS Distribution Centers.

Purchase Individually or as a Portfolio

Lake Marina can be purchased together with Country Lake and Fountainview as a portfolio of 628 total units, creating economies of scale. The properties can also be purchased individually.

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About Lake Marina

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