About Wellington Village
PROVEN VALUE-ADD POTENTIAL
The current owner has upgraded 15 units with new cabinets and countertops, stainless steel appliances, lighting and plumbing fixtures, hardware, LVT flooring and gray paint scheme. These units are achieving an excellent rent premium of +$180, on average.
$2M IN CAP-EX SPENT WITH REMAINING UPSIDE
Completed updates included a clubhouse refresh, new soccer court, newly painted building exteriors, complete asphalt overlay, and 15 unit interiors. Additional revenue could be gained by upgrading the remaining 189 "Classic" units, adding washer/dryer connections and machines, adding a fitness facility, and replacing property and building signage.
HIGHLY DESIRABLE UNIT FEATURES
Consisting of only two- and three-bedroom floorplans with large units, averaging 1,231 square feet, makes Wellington Village's popular among renters. Every unit features a patio or balcony, dining room, plenty of closet space and a large storage closet that allows for an easy addition of washer/dryer connections.
CONVENIENT ACCESS TO VAST EMPLOYMENT
The property is a short drive to a large employment cluster, Finish Line Headquarters, Emmett J. Bean Federal Center, Community Hospital North, Adidas Group, Amazon, and Walmart Distribution. I-70 and I-465 are less than two miles away, providing direct access to Indy's 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. Wellington Village also benefits from a great school district and close proximity to fast-growing and affluent Hancock County.
Wellington Village can be purchased individually, or as a portfolio with Briergate, for a total of 364 units. The properties are less than three miles apart.