About South & Madison
$4.7M+ IN CAPITAL IMPROVEMENTS SINCE 2016
A significant amount of capital has been spent improving the property. Items included converting commercial spaces into 10 residential units, a new building for the office, fitness center and maintenance shop, and lightly upgrading 185 units, among numerous other improvements.
Additional improvements could be made to the property, equating to increased rents upon turnover and reduction of loss to lease. Suggestions are to convert the remaining 13 commercial spaces to residential units, and upgrade the remaining 21 "classic" units with modern finishes.
DIVERSE UNIT MIX WITH DESIRABLE FLOOR PLANS
The property offers a floor plan for nearly everyone with studio, one-bed, two-bed and three-bed unit styles, as well as flats and popular townhome options. Nearly 30% of units are spacious townhomes averaging 1,013 SF, and offer a fenced patio and washer/dryer connections.
HIGH TRAFFIC LOCATION ON POPULAR SOUTH SIDE
South & Madison benefits from direct visibility on high-traffic Madison Avenue (18,135 vehicles per day). Residents enjoy extremely convenient access to the University of Indianapolis, downtown Indianapolis and the south side’s best shopping and dining options including the popular Greenwood Park Mall.
1,401-UNIT PORTFOLIO OPPORTUNITY
South & Madison can be purchased individually, or together with Brickyard Flats (412 units) and Legend at Speedway (773 units), for a total portfolio of 1,401 units, offering instant economies of scale.