Sold
Pinnacle on Meridian
36 Units
8555 One West Drive
Indianapolis, IN  46260
Type:  Multifamily
Closed: 9/30/2022
Sold
Aspen Chase at Eagle Creek
130 Units
5340 Acorn Lane
Indianapolis, IN  46254
Closed: 9/29/2022

PROVEN ABILITY TO ACHIEVE PREMIUMS

A rent premium is being achieved on 14 recently upgraded units ($190+ avg.) and 70 units upgraded between 2010-2015 ($100+ avg.). A new owner could significantly increase revenue by completing the recent renovation program on the remaining 107 classic units and 15 hallways.

IN-DEMAND ONE AND TWO BED UNIT STYLES

English Village is a 1987 built property offering one and two bedroom units styles, which are in high demand. These unit types allow for attractive overall rent pricing.

ELEVATE EXISTING AMENITY SET

The new owner has the ability to easily elevate the existing amenities with minor changes. Suggestions include adding a bark park, package center, new signage and updating the existing playground.

WELL-MAINTAINED WITH RECENT CAPITAL IMPROVEMENTS

Various improvements have recently been completed to this well-maintained property. The clubhouse/office was upgraded with new flooring, paint scheme and furniture. Hallways received a new paint scheme and carpet, and 12 unit interiors were fully renovated.

CONNECTIVITY TO DOWNTOWN INDIANAPOLIS

The property's location on the near east side offers quick access to downtown Indianapolis' employment, entertainment and retail/dining options. Downtown is home to three Fortune 500 companies, 154,500+ employees with 1,000+ new jobs added in 2021.

...
Sold
English Village
208 Units
545 English Village Drive
Indianapolis, IN  46219
Type:  Multifamily
Closed: 9/23/2022
Sold
Railway Manors
32 Units
913 N College Avenue
Bloomington, IN  47404
Closed: 8/31/2022

PORTFOLIO OPPORTUNITY SOLD BY LONG-TERM OWNER

Meridian Court South is a well-performing property being offered free and clear by the long-term owner. Meridian Court South can be purchased individually, or as a portfolio with the 532-unit Spinnaker Court to achieve scale with 821 total units.

CLEAR PATH TO SUBSTANTIALLY INCREASE REVENUE

At 98% occupancy, the property is primed for substantial increases to rents and income. This can be achieved by implementing water/sewer billback, lake view and W/D connection premiums, upgrading all 289 mainly original units, and adding amenities. Current rents trail the market by an average of $190+. Nearby properties have completed upgrades and are achieving significantly higher rents. A new owner could also simply continue to operate the properties as is without upgrades.

WELL MAINTAINED WITH DESIRABLE PROPERTY FEATURES

Significant improvements have recently been completed to this all brick property including replacement of all windows and sliders, new exterior doors, light poles, pool furniture, addition of two bark parks, fitness equipment, and more. Residents enjoy the maintained concrete streets throughout and the serene, park-like setting heavily wooded with mature trees and several lakes.

UPSCALE, GROWING SOUTH SIDE SUBURB

The property is under two miles from the city of Greenwood, a sought-after south suburb of Indianapolis enjoying 57% population growth since 2000. The affluent White River Township, immediately south boasts an average household income of $121K. The area is also known for well-performing schools and proximity to downtown Indianapolis and Columbus, offering numerous employment opportunities for residents.

HIGH TRAFFIC LOCATION WITH AREA'S BEST AMENITIES

The property has great visibility along the high-traffic SR-135. Residents benefit from immediate access to SR-135 and close-by US-31—dense corridors filled with the south side’s best shopping, dining and entertainment options. The popular Greenwood Park Mall, containing 1.2 million sf and more than 150 retailers, is less than three miles away.

Meridian Court South can be purchased individually, or as a portfolio with Spinnaker Court:

...
Sold
Meridian Court South
289 Units
7266 Lockwood Ln
Indianapolis, IN
Type:  Multifamily
Closed: 8/26/2022

PORTFOLIO OPPORTUNITY SOLD BY LONG-TERM OWNER

Spinnaker Court is a well-performing property being offered free and clear by the long-term owner. Spinnaker Court can be purchased individually or as a portfolio with the 289-unit Meridian Court South to achieve scale with 821 total units.

CLEAR PATH TO SUBSTANTIALLY INCREASE REVENUE

At 98+ occupancy, Spinnaker Court is primed for substantial increases to rents and income. This can be achieved by implementing water/sewer billback, lake view and W/D connection premiums, upgrading all 532 mainly original units, and adding amenities. Current rents trail the market by an average of $230+. Nearby properties have completed upgrades and are achieving significantly higher rents. A new owner could also simply continue to operate the properties as is without upgrades.

WELL MAINTAINED WITH DESIRABLE PROPERTY FEATURES

Significant improvements have recently been completed to this all brick property including replacement of all windows and sliders, new pool and decking, new exterior doors, light poles, balconies, addition of two bark parks, fitness equipment, and more. Residents love the maintained concrete streets throughout and the serene, park-like setting heavily wooded with mature trees and several lakes.

VIBRANT, GROWING WEST SIDE EMPLOYMENT

The property is ideally located on the west side of Indianapolis, adjacent to fast-growing and high-income Hendricks Co. Residents are close to an abundance of high-wage employment with easy access to the northwest side and downtown employment corridors. Major employment centers nearby are Ameriplex, Park 100, Intech Park and Indianapolis International Airport, among several others.

HIGH TRAFFIC LOCATION WITH AREA'S BEST AMENITIES

The property has great visibility along the high-traffic 38th Street with proximity to I-465 and I-74. Residents enjoy immediate access to the 3,800-acre Eagle Creek Park and 1,400-acre Reservoir, Indianapolis Motor Speedway, and all the best amenities downtown Indianapolis has to offer.

Spinnaker Court can be purchased individually, or as a portfolio with Meridian Court South:

...
Sold
Spinnaker Court
532 Units
3685 St. Thomas Blvd.
Indianapolis, IN  46214
Closed: 8/26/2022

HIGHLY DESIRABLE ALL TOWNHOME LAYOUTS WITH GARAGES

100% of the units at Aurora have an attached one car garage and offer a spacious townhome layout with 1,200+ square feet of living space, providing a single family look and feel. All units have a private entrance, front and back yard, private garage, in unit washer/dryer connection, deck, and spacious basement with storage space and daylight window.

HIGH OCCUPANCY, 5.2% T-3 CAP RATE & UNDER MARKET RENTS

With current occupancy of 94%+/- and a multi-year history of high occupancy, Aurora has demonstrated incredibly high renter demand. Current rental rates trail the surrounding comparable properties by more than 20% / $260+ per month. Pricing guidance at $11M represents 5.2% Cap Rate on T-3.

ABILITY TO RAISE REVENUE IMMEDIATELY

In addition to organic rent growth, a new owner can increase rents by completing interior unit upgrades to achieve $200+ monthly premiums.

CLOSE PROXIMITY TO RETAIL & EMPLOYMENT

Residents of Aurora Townhomes enjoy easy access to abundant nearby retail, restaurants and employment. Bath and Body Works is headquartered in the city and other employers include Amazon, Lbrands, Victoria's Secret, JCPenney, Ohio Health and Mount Carmel East Hospital. Reynoldsburg is located in the Columbus MSA, one of the fastest-growing metros in the nation with unprecedented population, GDP and job growth.

360 UNIT PORTFOLIO: $99K/UNIT & 5% T-3 CAP RATE

Aurora can be purchased individually, or as part of a three property, 360-unit portfolio. The Portfolio Pricing Guidance of $35.5M represents an average price per unit of just under $99k per unit and a blended 5.0% Trailing 3 Cap Rate.

   
...
Sold
Aurora Townhomes
82 Units
6864 Gemstar Road
Reynoldsburg, OH  43068
Type:  Multifamily
Closed: 8/23/2022

HIGH 5.4% CAP RATE WITH UPSIDE

20 East represents the rare opportunity to purchase a property at a 5.5% cap T- 3 Cap Rate on pricing guidance of $13.5M. Half of units have been upgraded (but current owner is not charging premiums) leaving additional value add potential through continued unit upgrades and organic rent growth.

98%+ OCCUPANCY & UNDER MARKET RENT

With a multiyear history of 95%+ occupancy, 20 East has demonstrated incredibly high renter demand. Current rental rates trail the surround comparable properties by more than 20%.

HOUSING UNDER SUPPLY & 1.6% UNEMPLOYMENT

The city of Elkhart has a substantial undersupply of housing. Employment has grown substantially, to an unemployment rate of 1.6% - the lowest in the country, outpacing new housing. A study recent study oncluded that there is a nearly 5,000-unit housing deficit in the city of Elkhart.

WELL MAINTAINED & SINGLE STORY PRODUCT

The entire property is single story and all of the units have a private entry and washer/dryer hookups. 20 East has benefitted from major capital expenditures in the last few years, leaving the new ownership to focus on property upgrades that will increase revenue.

360 UNIT PORTFOLIO: $99K/UNIT & 5% T-3 CAP RATE

20 East can be purchased individually, or as part of a three property, 360-unit portfolio. The Portfolio Pricing Guidance of $35.5M represents an average price per unit of just under $99k per unit and a blended 5.0% Trailing 3 Cap Rate.

   
...
Sold
20 East
156 Units
2125 Toledo Road
Elkhart, IN  46516
Closed: 8/9/2022

ADJACENT TO HIGH GROWTH SUBURB

Northwoods is located immediately west of popular Indy, suburb of Avon. Ranked by Money Magazine as one of the nation’s best places to live, Avon provides all the advantages of Indy with exceptional access to vast employment and extensive recreational opportunities.

100% OCCUPANCY AND UNDER MARKET RENTS

With current occupancy of 100% and a multiyear history of 98%+ occupancy, Northwood has demonstrated incredibly high renter demand. Current rental rates trail the surrounding comparable properties by more than 20%.

RAISE REVENUE IMMEDIATELY

In addition to organic rent growth, a new owner can increase utility bill-back recovery which is currently only at 65%. With a modest rent increase and 85% Water / Sewer recovery annual income will increase by more than $130,000.

PREVIOUSLY RENOVATED

In 2012, Northwoods received a comprehensive renovation including a property gate, new windows, 100% interior unit renovations (new cabinets, stainless steel appliances, flooring, lighting and more) and exterior enchantments.

360 UNIT PORTFOLIO: $99K/UNIT & 5% T-3 CAP RATE

Northwoods can be purchased individually, or as part of a three property, 360-unit portfolio. The Portfolio Pricing Guidance of $35.5M represents an average price per unit of just under $99k per unit and a blended 5.0% Trailing 3 Cap Rate.

   
...
Sold
Northwoods
122 Units
816 Winding Brook E. Drive
Indianapolis, IN  46234
Closed: 8/9/2022

2001/2019 BUILT PROPERTY W/ VALUE ADD

This well-known and well-maintained property offers 114 brand new phase II units and 92 phase I units with 2000s vintage finishes offering the potential for $200 rent premiums through completing unit upgrades.

WALKABLE URBAN LOCATION

Wabash Landing is ideally located between connected and vibrant Downtown Lafayette and West Lafayette. This irreplaceable location offers walkable access to onsite & adjacent retail, dining, parks, trails and entertainment.

IMPRESSIVE 8% RENT GROWTH

Wabash Landing has performed extremely well, is currently leased at 100% and has increased rents organically (not through upgrades) by 8% in 2021.

GROWING PURDUE

Since 2014, Purdue’s annual applications to the university are up 48%. Purdue now ranks as one of the nation’s top U.S. public institutions as well as one of its most innovative.

MULTIFACETED GREATER LAFAYETTE

The Greater Lafayette Area is continuing incredible growth, innovation and expansion. With new developments in both education and industry, This area continues to be the top place to live work and play.

HIGH-END FINISHES AND FEATURES

Wabash Landing brings the best of luxury to downtown dwellers with high-end finishes from corner to corner and an open floorplan living area. The elevated amenity set offers residents the comfort and convenience they demand.

...
Sold
Wabash Landing
206 Units
375 Brown Street
West Lafayette, IN  47906
Closed: 7/29/2022
Sold
University Park
120 Units
2901 N Elgin Street
Muncie, IN  47303
Type:  Multifamily
Closed: 7/14/2022

New Construction with Revenue Upside

Completed in 2021, the current owner does not bill back for water and sewer, and provides bulk internet and cable. Additional revenue could be made by billing back for water/sewer and internet/cable.

7.0% Cap Rate with Five-year Tax Abatement/ 5.8% Cap Rate without Tax Abatement

Baldwin Heights offers immediate cash flow selling at a 7.0% cap rate with a five-year tax abatement in place. Without the abatement, the cap rate is 5.75%.

Near Significant Employment

Toyota Motor Manufacturing | Indiana (7,296 employees) is less than five miles from Baldwin Heights. The company is adding an additional 1,400 employees by the end of 2023. Additional employers nearby include Duke Energy (1,400 emp), Vuteq Corp. (654 emp), Deaconess Gibson Hospital (350 emp) and Hansen Corp. (233 emp).

Desirable Unit Features

All units offer full size washer/dryer connections and machines, open layout, modern kitchens and bathrooms, ceiling fans, and a full appliance package. Units are large, averaging 999 square feet.

Limited Competition

There is very little direct competition for Baldwin Heights. Vail Estates is the only other apartment property that is comparable.

...
Sold
Baldwin Heights
48 Units
220 Garfield Avenue
Princeton, IN  47270
Type:  Multifamily
Closed: 6/30/2022

...
Sold
IndySix Portfolio
2,103 Units
Indianapolis, IN
Type:  Multifamily
Closed: 6/25/2022

FULLY UPGRADED WITH LUXURY FINISHES & AMENITIES

The current owner has spent $5.5M on property upgrades including all new roofs and HardiePlank siding, luxury amenities and top-of-the-line unit finishes. 100% of the units have new designer cabinetry, granite countertops, stainless steel appliances, LVT flooring and come complete with all in one washer/dryer unit.

IN-PLACE CASH FLOW & HUGE UPSIDE

With 95%+ historical occupancy, the property offers excellent cash flow immediately. A new owner can continue to grow revenue easily by simply burning off the current $750k annual loss to lease. The current market rent still trails the competing properties by $25 - $74 and is achievable on new leases.

GREAT ATTRIBUTES

The Jameson was thoughtfully constructed with excellent layouts, 70% of units with the popular 2 bed/2 bath style, and 14% of units with a unique single-story cottage.

ADJACENT TO NOTABLE HEALTHCARE EMPLOYMENT

Located adjacent to St. Vincent Hospital (13,000+ emp) and less than 4 miles from Hamilton County, Indiana’s highest income area, The Jameson offers residents easy access to employment, retail, services and excellent schools. St. Vincent Hospital will be undergoing a $325M expansion, which will lead to the creation of many new jobs in the property’s immediate vicinity.

CONVENIENT & SOUTH AFTER NORTHSIDE INDY

Conveniently located near an abundance of big box and boutique shopping and a wide variety of dining options. Travel just north of the property on the heavily concentrated 86th Street for Trader Joe's, Costco & Fresh Thyme. Luxury shopping & dining at Keystone at the Crossing is just five miles away.

...
Sold
The Jameson
258 Units
1808 Century Way
Indianapolis, IN  46260
Closed: 6/24/2022

The Cushman & Wakefield Midwest Multifamily Advisory Group is pleased to present the exclusive listing of Ivy Towns & Flats , a 266-unit, 2015-built apartment community located in very desirable West Lafayette, a booming city known for both Purdue University and innovative industry.

The acquisition of Ivy Towns & Flats represents the opportunity to own one of the best properties in a very sought after location. The property offers everything high-income dwellers are looking for - from a luxurious amenity set to the high-end unit finishes, attached garages and a single-family feel.

LUXURY SUBURBAN PROPERTY WITH SIGNIFICANT RENT GROWTH POTENTIAL

Ivy Towns and Flats is the premier suburban property in West Lafayette. At 99% occupancy, the ability to increase rents is clear based on the incredible demand for a quality well-located product. It is expected that rents can be increased by more than $200 immediately.

HIGH-END RESIDENT BASE

Residents at Ivy Towns & Flats are young, educated and high earning with approximately 60% being students. The current non-student residents work in diverse professions including education, healthcare and technology and boast an average HH Income of over $82,000.

HIGH-END FINISHES & UNIQUE FEATURES

Ivy Towns & Flats offers high-end finishes, attached garages, a single-family residential feel and open floorplan living space. The elevated amenity set offers residents the comfort and convenience they demand.

IMPRESSIVE MARKET FUNDAMENTALS

Greater Lafayette shows strong 6.2% rent growth and 94% occupancy with limited new construction. The area is bolstered by growing Purdue University where applications are up 48%. Purdue now ranks as one of the nation’s top U.S. public institutions as well as one of its most innovative.

MULTIFACETED GREATER LAFAYETTE

The Greater Lafayette Area is continuing incredible growth, innovation and expansion. With new developments in both education and industry, this area continues to be a top place to live work and play.

...
Sold
Ivy Towns and Flats
266 Units
2080 Foxglove Way
West Lafayette, IN  47906
Type:  Multifamily
Closed: 6/16/2022

5.8% Trailing Cap Rate with Upside

The property offers immediate cash flow selling at a 5.8% T-3 Cap Rate. A new owner could reduce loss to lease, increase rents on turnover and achieve projected occupancy by upgrading all units and adding amenities.

Stable, Long-term Operations

Self-managing, long-term owners bring a wealth of property knowledge. The 35% increase on the last 3 leases, 18% average increase on lease trade-out (new leases), renewal rate of 65%, and consistently high occupancy are a result of stable, long-term operations.

Townhome Property w/ Popular Features

All units are either 2- or 3-bedroom spacious townhomes, averaging over 1,200 square feet. Private entries, enclosed patios, full size washer/dryer connections in all units, dining room, and large closets are some of the popular features. A daycare facility is connected to the clubhouse for resident use at a reduced rate.

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 (4,800+ employees), Community Hospital North, Adidas Group, Amazon, and Walmart Distribution. I-70 and I-465 are both less than three miles away, providing direct access to the downtown CBD and all areas of the city.

Resurgence of Indianapolis' East Side

Next to fast-growing Hancock County, the East side is showing upward trends in several indicators including occupancy and rent growth. Its substantial job base and strong regional economy are both growing faster than jobs nationwide. Industrial development is booming with 9.5 million SF under construction in the submarket.

Purchase Individually or as a Portfolio

Country Lake can be purchased together with Fountainview and Lake Marina as a portfolio of 628 total units, creating economies of scale. The properties can also be purchased individually.

   
...
Sold
Country Lake Townhomes
184 Units
2910 White Knight Blvd.
Indianapolis, IN  46229
Closed: 6/8/2022

Well-Maintained - 5.8% Trailing Cap Rate

Fountainview arrives to market in excellent physical condition. The long-term owners completed a full renovation of the property in the early 2000s. The property offers immediate cash flow selling at a 5.8% T-3 Cap Rate.

Stable, Long-term Operations

Self-managing owners and on-site staff with nearly 10 years of tenure bring a wealth of property knowledge. The 24% avg. increase on lease trade-out (new leases), 18% increase on the last 3 leases, renewal rate of 65%, and consistently high occupancy are a result of stable, long-term operations.

Access to Vast Employment & Amenities

Significant employers nearby are Emmett J. Bean Federal Center (4,800 employees), Community Hospital North, Finish Line, Adidas Group, Amazon Distribution, and Walmart Distribution. "Fort Ben," a vibrant mixed-use development, and the 82nd Street Corridor, with endless amenities, are both a short drive from Fountainview.

Resurgence of Indianapolis' East Side

Next to fast-growing Hancock County, the East side is showing upward trends in several indicators including occupancy and rent growth. Its substantial job base and strong regional economy are both growing faster than jobs nationwide. Industrial development is booming with 9.5 million SF under construction in the submarket.

Great School System

The MSD Lawrence Township School District serves more than 16,000 students within 21 schools. The district is known as the “Best Community for Music Education”, notable academics and is nationally recognized for its athletics. Lawrence Township has an impressive 5 National Titles and 47 State Championships.

Purchase Individually or as a Portfolio

Fountainview can be purchased together with Country Lake and Lake Marina as a portfolio of 628 total units, creating economies of scale. The properties can also be purchased individually.

   
...
Sold
Fountainview
96 Units
4800 N. Post Road
Indianapolis, IN  46226
Closed: 6/8/2022

5.7% Trailing Cap Rate with Remaining Upside

The property offers immediate cash flow selling at a 5.7% T-3 Cap Rate. A new owner could implement rent premiums for lake views, unit upgrades or washer/dryer connections on day one to organically push rents. Fully upgrading all units and adding amenities could reduce loss to lease and increase rents on turnover.

Stable, Long-term Operations

Self-managing, long-term owners and on-site staff bring a wealth of property knowledge. The 17% average increase on lease trade-out (new leases), 16% increase on the last 3 leases, renewal rate of 57%, and consistently high occupancy are a result of stable, long-term operations.

Lakefront Property W/Unique Unit Features

Lake Marina offers residents unique property features including a large, gorgeous stocked lake. Over 48% of units are loft-style with vaulted ceilings and washer/dryer in the unit. Other popular elements include private entrances, large closets and bright open layouts.

High Traffic, High Visibility Location

Lake Marina is located adjacent to I-70, giving residents quick and convenient access to Indy's vibrant, employment-rich Downtown. With nearly 65K cars passing by daily, the property benefits from great visibility and a high volume of “drive by” leasing traffic.

Resurgence of Indianapolis' East Side

Indianapolis' far east side is showing upward trends in several indicators including occupancy and rent growth. The submarket also offers access to vast employment including Emmett J. Bean Federal Center (4,800+ employees), Community Hospital North, Finish Line, Adidas Group and Amazon, Walmart and CVS Distribution Centers.

Purchase Individually or as a Portfolio

Lake Marina can be purchased together with Country Lake and Fountainview as a portfolio of 628 total units, creating economies of scale. The properties can also be purchased individually.

   
...
Sold
Lake Marina
348 Units
9515 Shoreland Lane
Indianapolis, IN  46229
Closed: 6/8/2022

IN-PLACE YIELD & 5.5% CAP RATE

Beech Grove offers reliable cash flow with immediate yield. A new owner can simply purchase the property at a high 5.5% T-3 Cap Rate and continue to operate the property well and earn a robust return.

$3.1M+ IN CAPITAL IMPROVEMENTS COMPLETED

The current owner has completed nearly $3.2 million in capital improvements at the property. Updates included modern upgrades to 138 "Platinum" units, all new windows, 35 new sliders, 50% of roofs, landscaping, common hallways, decking, and asphalt, among other items.

REMAINING UPSIDE

The potential for significant revenue increases exists through completing the current "Platinum" unit upgrades. The remaining 14 "Original" and 28 "Gold" units could be upgraded to the "Platinum" level. Additionally, adding washer/dryer connections to the 90 units of the two-bed style could yield additional revenue.

CONVENIENT TO LOUISVILLE & OHIO RIVERFRONT

Vibrant downtown Louisville and its many shopping, dining and entertainment options and employment centers are just a fifteen minute drive from the property. Greater Louisville is a strong apartment market in terms of both rents and occupancies. Downtown Jeffersonville, at the Ohio riverfront, offers numerous amenities including the River Stage—a free concert and event center.

ATTRACTIVE BRICK EXTERIOR

The brick exteriors at Beech Grove are attractive, and are low maintenance.

...
Sold
Beech Grove
182 Units
3014 Beech Grove Court
Jeffersonville, IN  47130
Closed: 5/31/2022

90’s Built Property With Proven Upside

Built in 1990, the property has been well maintained. An upgrade has been completed on 20 units, which are achieving $120-180 rent increases. A $191 rent increase could be obtained by continuing the current renovation program on the remaining 102 units. Creating popular amenities for residents would only add to the potential upside.

Sought-After Property & Unit Features

Popular features of this all-brick property are ample green space for residents, private entries without common hallways, balcony or patio, full size washer/dryer connections, open layout, dining room, walk-in and large closets, and outside storage. All units are spacious 2 or 3 bedroom layouts averaging over 1,000 square feet.

Recent Capital Improvements & 16% Rent Growth

Numerous capital improvements have been completed and rents have increased by more than 16% year-over-year as a result. Improvements included a clubhouse/office facelift, fitness center and bark park addition, 20 fully upgraded units, replacement of 33% of HVAC units, new dumpster enclosures, etc.

Convenient Access To Vast Employment

Significant employers nearby are Emmett J. Bean Financial Center, Community Hospital North, Finish Line, Adidas Group, Amazon Distribution, Walmart Distribution, among several other employment opportunities. Access to both I-70 and I-465 is just one-half mile, and four miles from the property, providing quick access to downtown Indianapolis and all areas of the city.

Offered Free and Clear

The ability to purchase Stonybrook Commons free and clear allows new owners to take advantage of current low rates, interest-only periods and maximum leverage which all increase buyer returns.

...
Sold
Stonybrook Commons
122 Units
3036 Redskin Drive
Indianapolis, IN  46236
Type:  Multifamily
Closed: 5/23/2022

1990's Built & Prime for Upgrades

Center Point is a sought-after 1990's built asset with largely original finishes. This well-maintained property is primed for upgrades, and by completing unit and common area upgrades, rents can be raised by $75-$225.

Access to the City's best Amenities

The westside location of Center Point offers easy access to the interstate allowing residents to be downtown, to the award-winning Indianapolis International Airport, the Indianapolis Speedway or Eagle Creek Park in just minutes.

Vibrant & Growing West Side Employment

Center Point is located on the westside of Indianapolis adjacent to Hendricks Co. The property offers residents a location that is close to an abundance of high-wage employment as well as easy access to the northwest side and downtown employment corridors.

Custom Features & Sought After Amenities

The unit features and full amenity set at Center Point are unmatched in the market. 100% of the units have washer/dryer connections. Units also have abundant natural light, crown molding, 9’ ceilings and direct access garages are available.

Purchase Individually or 836 Unit Portfolio

Center Point can be purchased with Residence at White River (228 units) and Steeplechase at Shiloh (264 units) for a total portfolio of 836 units, offering immediate presence and economies of scale. The properties may also be purchased individually.

Steeplechase at Shiloh Crossing CA

Residence at White River CA

...
Sold
Center Point
344 Units
6710 Hollow Run Circle
Indianapolis, IN  46214
Type:  Multifamily
Closed: 5/4/2022

1990s built Property with Upside

Residences at White River is a sought-after 1990's built asset with largely original finishes. This well-maintained property is ready for upgrades, and by completing unit and common area upgrades, rents can be raised by an average of $140.

Proximity to Prominent Universities

The property is located within walking distance of Marian University (+/-2,200 students) and just 1 mile to Bulter University (+/-4,500 students).

Easy Access to Downtown & Amenities

The Residences of White River location allows quick access to downtown, which offers vast employment, restaurants and entertainment. Residents also enjoy access just 3 blocks away to Riverside Park and the Wapahani Trail.

Near High Value homes

Residences at White River is located immediately adjacent to the high-end Wynnedale neighborhood with home values up to $750,000. The average household incomes within one mile are over $80,000.

Best-in-class features

The unit features and full amenity set at Residences at White River are sought-after in the market. 100% of the units have washer/dryer connections. Units also have abundant natural light, open floorplans and garages available.

Potential 836 Unit Portfolio

Residences at White River can be purchased with Center Point (344 units) and Steeplechase at Shiloh (264 units) for a total portfolio of 836 units, offering immediate presence and economies of scale. The properties may also be purchased individually.

Center Point CA

Steeplechase at Shiloh Crossing CA

...
Sold
Residence at White River
228 Units
3861 Gable Lane Drive
Indianapolis, IN  46228
Closed: 5/4/2022

Sought After Indy Suburb - Avon

Ranked by Money Magazine as one of the nation’s best places to live, Avon provides all the advantages of Indy with desirable neighborhoods, top-rated schools, and extensive recreational opportunities.

15% Organic Rent Growth & 97% Occupancy

Steeplechase at Shiloh Crossing has performed extremely well with a history of 97%+ occupancy. Furthermore, new leases demonstrate average rent growth of 15%. This is organic rent growth not accomplished through unit upgrades.

Blank Slate for Upgrades

This well-maintained property offers primarily classic unit finishes offering potential for revenue growth. By completing both unit and common area upgrades, rents can be increased by $200-$260+.

Near Abundant Employment

Steeplechase at Shiloh Crossing is located in Hendricks County which offers an abundance of high-wage employment as well as easy access to the northwest side and downtown Indianapolis employment corridors.

Purchase Individually or 836 Unit Portfolio

Steeplechase at Shiloh can be purchased with Center Point (344 units) and Residences at White River (264 units) for a total portfolio of 836 units, offering immediate presence and economies of scale. The properties may also be purchased individually.

Center Point CA

Residence at White River CA

...
Sold
Steeplechase at Shiloh Crossing
264 Units
10272 Steeplechase Drive
Avon, IN  46123
Closed: 5/4/2022
Sold
Southport Crossing
328 Units
1451 E Southport Road
Indianapolis, IN  46227
Type:  Multifamily
Closed: 3/29/2022