Slideshow Image

Lodge at Trails Edge

Posted: 6/21/2022
PRIVATE LISTING
268 Units
Want to add this to My Listings (or tell us why you're not interested)?
Log In or Register ...

Photos

On Hold
Slideshow Image
On Hold
Slideshow Image
On Hold
Slideshow Image
On Hold
Slideshow Image
On Hold
Slideshow Image
On Hold
Slideshow Image
On Hold
Slideshow Image
On Hold
Slideshow Image
On Hold
Slideshow Image
On Hold
Slideshow Image
On Hold
Slideshow Image
On Hold
Slideshow Image
On Hold
Slideshow Image
On Hold
Slideshow Image
On Hold
Slideshow Image
On Hold
Slideshow Image
On Hold
Slideshow Image
On Hold
Slideshow Image
On Hold
Slideshow Image
On Hold
Slideshow Image
On Hold
Slideshow Image
On Hold
Slideshow Image
On Hold
Slideshow Image
On Hold
Slideshow Image
On Hold
Slideshow Image
On Hold
Slideshow Image
On Hold
Slideshow Image
On Hold
Slideshow Image
On Hold
Slideshow Image
On Hold
Slideshow Image
On Hold
Slideshow Image
On Hold
Slideshow Image
On Hold
Slideshow Image
On Hold
Slideshow Image
On Hold
Slideshow Image
On Hold
Slideshow Image
On Hold
Slideshow Image
On Hold
Slideshow Image
On Hold
Slideshow Image
On Hold
Slideshow Image
On Hold
Slideshow Image
On Hold
Slideshow Image

About

About Lodge at Trails Edge

Prime North Side "A" Location

The property is across the street from Hamilton County—Indiana’s most affluent county, and offers convenient access to I-465 and major thoroughfares. Abundant employment and high-end amenity options are conveniently located for quick access.

Directly on Popular Monon Trail

The Monon Trail -- one of the busiest pedestrian paths in the nation offers residents direct access. The popular greenway spans 25+ miles from Hamilton County down to downtown Indianapolis with numerous amenities along the path.

Strong Property Performance

Organic rent growth at the property is high at 11.6% on renewals and 20.0% on new leases without concessions. Occupancy has consistently remained above 95% for multiple years.

1981-Built Fully Renovated Property

The current owner has spent $4.4M improving the property. Upgrades included all unit interiors, 148 washer/dryer connections, paint and carpet in 17 hallways, all new windows, and all new HardiePlank siding and paint on buildings.

Remaining Upside

A new owner could operate the property as is and enjoy organic rent growth or gain additional revenue and reduce loss to lease by implementing valet trash, adding an Amazon Hub and refreshing the pool area with furniture and a new covered lounge.

Portfolio Opportunity

Lodge at Trails Edge can be purchased individually, or as a portfolio with Trails at Lakeside, The Rail at 1380 and Salem Courthouse for a total of 1,016 units, offering immediate presence and economies of scale.

Documents