About Trails at Lakeside
1989-Built Renovated Community
The current owner has spent $2.2M improving the property. Upgrades included 205 unit interiors, fitness center expansion and refresh, addition of restrooms outside near the pool area, and exterior paint on six buildings.
A new owner could operate the property as is and enjoy organic rent growth, or gain additional premiums of $136-$243 by completing a light upgrade on all units, and adding valet trash, an Amazon hub and an outdoor kitchen in the pool area.
Excellent North Side Location
The property offers convenient access to I-465 and major thoroughfares in addition to the vast employment and amenity options of Broad Ripple Village, Keystone at the Crossing, Castleton, Fort Ben and Downtown Indianapolis.
Newest Property in Submarket
Trails at Lakeside is one of the newest properties in the Broad Ripple area, and offers superior amenities, great curb appeal and a quiet atmosphere.
Strong Property Performance
Organic rent growth at the property is high at 17.5% on new leases and 12.2% on renewals. Occupancy has consistently remained above 95% for multiple years and the property has low bad debt.
Trails at Lakeside can be purchased individually, or as a portfolio with Lodge at Trails Edge, The Rail at 1380 and Salem Courthouse for a total of 1,016 units, offering immediate presence and economies of scale.