PROVEN VALUE-ADD POTENTIAL
The current owner has upgraded 92 units, which are achieving an average monthly rent premium of $194 over classic units. Further revenue growth could be achieved by upgrading the remaining 68 classic units.
OPPORTUNITY FOR FURTHER ENHANCEMENTS
The property has stable management and revenue flow. A new owner could further grow revenue by completing renovations to the building exteriors, hallways, and creating additional amenities for residents.
CONVENIENT ACCESS TO VAST EMPLOYMENT
The property is adjacent to Finish Line's HQ, and a large employment cluster. Other significant employers nearby are Emmett J. Bean Federal Center, Community Hospital North, Adidas Group, Amazon, and Walmart Distribution. I-70 and I-465 are less than three miles away, providing direct access to the downtown CBD and all areas of the city.
HIGH GROWTH EAST SIDE LOCATION
Located on Indy's East side, which has consistently trended upward in several indicators including occupancy and rent growth (56% since 2012). Its substantial job base and strong regional economy are both growing faster than jobs nationwide. Briergate also benefits from a great school district and close proximity to fast-growing and affluent Hancock County.
Briergate can be purchased individually, or as a portfolio with Wellington Village, for a total of 364 units. The properties are less than three miles apart.