Southport offers buyers the opportunity to purchase a stable, partially renovated property in a solid B location.

Southport Crossing is located in Southport, a the well-regarded southern suburb of Indianapolis. 206 units have already been fully upgraded and demonstrate the ability to achieve higher rent. 122 units are partially renovated providing buyers with the ability to further upgrade these units and charge and additional $50 - $80 per month.

Southport Crossing is being offered free and clear.

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Southport Crossing
328 Units
1451 E Southport Road
Indianapolis, IN  46227
Type: Conventional
Closed: 5/31/2019

Oakbrook Park Apartments, located on the desirable north side of Indianapolis, offers buyers the opportunity to purchase a stable, partially renovated property in a solid B location with the demonstrated ability to renovate units and achieve rent premiums.

The property was originally built in 1978 and has received numerous renovations and updates over the years. In 2010 / 2011, a previous owner completed over $1.3M in property renovations/upgrades. These renovations included the replacement of all windows, common area hallway upgrades, full property exterior painting, replacement of 4 roofs, addition of a new fitness facility, yoga studio and business center, clubhouse renovation, installation of a bark park and sand volleyball court, new landscaping and property signage and the updating of 153 apartment units (87 partially renovated and 66 fully renovated units).

The current owner has continued to invest in the property and spent over $1.5M since 2015 in capital improvements. A major project completed by the current owner was the conversion of a previous commercial building. This building was fully renovated and converted into 12 additional apartments. These 12 units have brand new finishes and feel like new construction product. These “new” units are highly sought after and demonstrate the demand for units with higher end finishes and higher rents. Further proving the case for continued unit upgrades, the previous owner fully renovated 66 units in 2011+/- and these units still lease for $50 - $125 more.

Oakbrook Park is being sold free and clear or with the potential to assume the existing debt (assumption NOT required).

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Oakbrook Park
256 Units
1808 Century Way
Indianapolis, IN  46260
Type: Conventional
Closed: 5/30/2019

Spyglass is a 120-unit apartment community exceptionally well located on Indianapolis’ far north side. The community was built in 1979 and has been very well maintained. The property has a history of high occupancy.

The community offers an attractive mix of 36 one-bedroom flats, 32 two-bedroom flats, 28 two-bedroom townhomes, and 24 three-bedroom townhomes. The property’s 16.48 acres features many mature trees and ample green space.

Community amenities include a clubhouse/community center with 24-hour fitness center, business center and free tanning; a swimming pool and sundeck; a picnic area; tennis court; and playground. The community offers 50 covered parking spaces for an additional rental.

Unit features vary by unit type but include attractive, spacious floor plans, fully-equipped kitchens, private patios or balconies, washer/dryer hookups (in all units except the one-bedrooms), walk-in closets, in-unit storage and wood-burning fireplaces. Select units have attractive lake views

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Spyglass
120 Units
8320 Spyglass Drive
Indianapolis, IN  46260
Type: Conventional
Closed: 4/9/2019
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Beech Meadow Apartments
272 Units
147 Diplomat Court
Beech Grove, IN  46107
Type: Conventional
Closed: 3/15/2019

Eco Square is a 108-unit garden apartment community on the southeast side of Evansville, Indiana. Built in 1966, the property is comprised of eleven two-story residential buildings. Buildings have brick exteriors with mansard roofs. All windows have been replaced since original construction. Eco Square is named to reflect its environmental and sustainability focus. Residents enjoy eco-friendly living amenities such as community gardening and composting and on-site recycling. Many units have energy saving light bulbs and low-flow water devices. The community offers a resortstyle swimming pool, a large, well landscaped courtyard, grilling areas and bike stations.

With the exception of one efficiency unit, the property consists of 107 Two Bedroom/One bath units with identical 825 square foot floor plans. The leasing office and maintenance shop are located in one of the Two Bedroom units.

Units feature large living rooms and walk in closets in the master bedrooms.

Terra Trace is an 84-unit garden apartment community on the east side of Evansville, Indiana. The property was built in 1978 and is comprised of eleven two-story residential buildings and a single story clubhouse/ office. Building exteriors are brick and new vinyl siding (installed in 2013). Roofs are pitched with composite shingles. Nine roofs were replaced in 2013-2014. Other recent capital improvements include replacement of balconies, new signage, new landscaping and hallway refurbishment. This refurbishment included painting, new light fixtures and new flooring at stair landings in all twenty-two halls and carpet in ten halls.

The property consists of 56 One Bedroom/One Bath units (in two floor plans), 20 Two Bedroom/One Bath units and 8 Two Bedroom/One and One-half Bath units. Units have generous floor plans, are all electric and include private access intercom systems. Select units include private patios or balconies and outside storage. Eight units have upgraded kitchens (stained cabinets, new cabinet hardware, counters, lighting) and new bathroom vanities. Upgraded units command rents between $35 and $65 per month more than non-upgraded units.

In addition to a clubhouse with Wi-Fi, community amenities include a swimming pool and on-site laundry facilities.

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Eco Square & Terra Trace (2 properties, 192 units)
Eco Square Apartments
108 Units
700 Chateau Drive
Evansville, IN  47715
Type: Conventional
Closed: 3/12/2019

Eco Square is a 108-unit garden apartment community on the southeast side of Evansville, Indiana. Built in 1966, the property is comprised of eleven two-story residential buildings. Buildings have brick exteriors with mansard roofs. All windows have been replaced since original construction. Eco Square is named to reflect its environmental and sustainability focus. Residents enjoy eco-friendly living amenities such as community gardening and composting and on-site recycling. Many units have energy saving light bulbs and low-flow water devices. The community offers a resortstyle swimming pool, a large, well landscaped courtyard, grilling areas and bike stations.

With the exception of one efficiency unit, the property consists of 107 Two Bedroom/One bath units with identical 825 square foot floor plans. The leasing office and maintenance shop are located in one of the Two Bedroom units.

Units feature large living rooms and walk in closets in the master bedrooms.

Terra Trace is an 84-unit garden apartment community on the east side of Evansville, Indiana. The property was built in 1978 and is comprised of eleven two-story residential buildings and a single story clubhouse/ office. Building exteriors are brick and new vinyl siding (installed in 2013). Roofs are pitched with composite shingles. Nine roofs were replaced in 2013-2014. Other recent capital improvements include replacement of balconies, new signage, new landscaping and hallway refurbishment. This refurbishment included painting, new light fixtures and new flooring at stair landings in all twenty-two halls and carpet in ten halls.

The property consists of 56 One Bedroom/One Bath units (in two floor plans), 20 Two Bedroom/One Bath units and 8 Two Bedroom/One and One-half Bath units. Units have generous floor plans, are all electric and include private access intercom systems. Select units include private patios or balconies and outside storage. Eight units have upgraded kitchens (stained cabinets, new cabinet hardware, counters, lighting) and new bathroom vanities. Upgraded units command rents between $35 and $65 per month more than non-upgraded units.

In addition to a clubhouse with Wi-Fi, community amenities include a swimming pool and on-site laundry facilities.

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Eco Square & Terra Trace (2 properties, 192 units)
Terra Trace Apartments
84 Units
1715 Theater Drive
Evansville, IN  47715
Type: Conventional
Closed: 3/12/2019

Castle Point is a distinctive 740-unit property located at 18011 Cleveland Road in South Bend, Indiana. Built in three phases between 1974 and 1980, the property sits on almost 50 acres and consists of an exceptionally large clubhouse / amenity center and thirty-one two-story residential buildings and a maintenance shop. Due to its size, proximity to University of Notre Dame, and its many amenities, the community is an apartment landmark in South Bend.

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Castle Point
740 Units
18011 Cleveland Rd
South Bend, IN  46637
Type: Conventional
Closed: 2/13/2019

Harbour Town Apartments is a 104-unit luxury apartment community located on beautiful Morse Lake in affluent and fast-growing Noblesville, Hamilton County, Indiana. Recent property renovations include all new windows and patio doors. Many units have received various levels of upgrade, 34 of which receive rent premiums of $75-$165. The community also offers residents a pool with sundeck, fitness center, playground, dog park, picnic areas, available covered parking and the very unique feature of private boat docks. All units feature private patios or balconies, wood burning fireplaces, large closets and fully-equipped kitchens including microwaves. Select units have washer/dryer connections and wrap-around balconies.

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Harbour Town
104 Units
222 Waterfront Court
Noblesville, IN  46060
Type: Conventional
Closed: 2/13/2019
Sold
College Crossing
56 Units
1840 National Avenue
Indianapolis, IN  46227
Type: Conventional
Closed: 1/24/2019

Turtle Creek is a 216-unit rental community located in Kokomo, Indiana, 40 miles due north of Indianapolis. The property is well-maintained and exceptionally located on the east side of the city. Built in 1971, the property was constructed on concrete slabs with wood framing and brick exteriors. The property is comprised of two large “X” shaped buildings each with four wings and a common core area in the center. The three-story buildings both have a central elevator.

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Turtle Creek - Kokomo
216 Units
2241 W. Jefferson
Kokomo, IN  46901
Type: Conventional
Closed: 1/17/2019

Lodge at Trails Edge is a 268-unit luxury apartment community located in the popular Nora/Castleton area on Indianapolis’ affluent far north side. The community was originally built in 1981. In 2001 a building with twenty units was added. Situated on 20 well-landscaped acres, the property has great curb appeal and offers its residents a truly park-like setting and that includes a lake with two fountains, many mature trees, and ample green space. The immensely popular Monon Trail runs along the property’s western edge.

The site includes the clubhouse/office/amenity building, a shop, and 13 residential buildings. Lodge at Trails Edge offers a mix of 136 one-bedroom flats and 132 two-bedroom flats. Features vary by unit type but include attractive floor plans with kitchens with breakfast bar, ample pantry space, a full appliance package, private patios and/or balconies, and oversized closets..

Ninety-six units have fireplaces; sixty-one units have washer/dryer hookups, and seventy-two units overlook the central lake and its two fountains.

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Lodge at Trails Edge
268 Units
9535 Benchmark Drive
Indianapolis, IN  46240
Type: Conventional
Closed: 12/21/2018
Sold
Flats at 146
368 Units
15201 Flats Dr
Noblesville, IN  46060
Type: Conventional
Closed: 12/12/2018

The Lenox is an exceptionally well-maintained 200-unit apartment community located on the popular northeast side of Indianapolis. Built as a luxury community in 1972, the property consists of nine brick, two-story residential buildings and an office / clubhouse. The large clubhouse contains a community room with fully-equipped kitchen and fireplace, 24-hour fitness center, and a business center with free wi-fi. In addition to the clubhouse, community amenities include a pool with sundeck, playground, laundry facilities in each building, garages and carports, and available extra resident storage.

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Lenox
200 Units
5421 Calder Way
Indianapolis, IN  46226
Type: Conventional
Closed: 11/30/2018

Regency Court is a 125 unit community, located at 1616 S Henderson Street in Bloomington, Indiana. The property is located just east of Walnut Street, a high traffic north/south thoroughfare running directly through Downtown Bloomington. The city bus, Route 7, stops at the Regency Court entrance and conveniently takes residents north (to downtown and the Indiana University Campus) or south (to the Walnut Street Shopping Centers). The community is also walking distance from Bloomington South High School and Templeton Elementary School.

Regency Court is made up of 36 one bedroom apartments, 14 two bedroom townhomes, 30 three bedroom townhomes, and 28 four bedroom townhomes. Also, there are 4 duplexes, 1 two bedroom house, 1 three bedroom house, and 7 five bedroom homes. All units have washers and dryers.

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Regency Court
125 Units
1616 S Henderson St
Bloomington, IN  47401
Type: Conventional
Closed: 11/27/2018
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Indy 5 Property Portfolio (5 properties, 1,983 units)
Riverwood
120 Units
5830 Riverwood Drive
Indianapolis, IN  46250
Type: Conventional
Closed: 10/31/2018
Sold
Indy 5 Property Portfolio (5 properties, 1,983 units)
Villa Nova
126 Units
8760 Le Mode Court
Indianapolis, IN  46268
Type: Conventional
Closed: 10/31/2018
Sold
Indy 5 Property Portfolio (5 properties, 1,983 units)
Westlake
1381 Units
6000 West Lake Drive
Indianapolis, IN  46224
Type: Conventional
Closed: 10/31/2018
Sold
Indy 5 Property Portfolio (5 properties, 1,983 units)
Wind Drift
166 Units
3833 Wind Drift Drive
Indianapolis, IN  46254
Type: Conventional
Closed: 10/31/2018
Sold
Indy 5 Property Portfolio (5 properties, 1,983 units)
Woods Edge
190 Units
6401 Woods Edge N. Drive
Indianapolis, IN  46250
Type: Conventional
Closed: 10/31/2018

Oak Park is a 163-unit apartment community exceptionally well located on the south side of Indianapolis just north of the desirable suburb of Greenwood. The community was built in 1964 but has been recently updated. In 2016, the property received significant updates and improvements. All windows were replaced and 50%+/- of the roofs were replaced. Common area hallways were renovated with new flooring, painting and lighting. The community’s clubhouse was extensively renovated, and a new fitness center was added. 31 Units have been fully upgraded with all new interior finishes (cabinets, countertops, appliances, flooring and fixtures).

The community offers spacious units with an average unit size of 1,079 square feet. Oak Park has an attractive unit mix with one Studio / Cottage, 50 one-bedroom flats and 112 two-bedroom flats. The property’s 17 acres feature many mature trees and ample green space. Community amenities include a clubhouse/community center with 24-hour fitness center, a swimming pool and sundeck. Unit features include attractive, spacious floor plans, fully-equipped kitchens, private patios or balconies in all units. Select units offer washer / dryer hookups.

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Oak Park
162 Units
2100 E Stop 12 Rd
Indianapolis, IN  46217
Type: Conventional
Closed: 10/25/2018

Auburn Place is a 192-unit apartment community exceptionally well located on the south side of Indianapolis in the desirable suburb of Greenwood.

The community offers an attractive mix of 42 one-bedroom flats, 72 two-bedroom flats, 60 two-bedroom townhomes and 18 three-bedroom townhomes. The property’s 12 acres feature many mature trees and ample green space. Community amenities include a clubhouse/community center with 24-hour fitness center, a swimming pool and sundeck and playground.

Auburn Place is an extremely well-located community. Because of its proximity to Indianapolis and its excellent school system, Greenwood has experienced consistent population growth for many years. Auburn Place offers its residents close proximity to the south side’s best shopping and dining. Immediately northeast of Auburn Place is Simon’s Greenwood Park Mall, the second largest Indianapolis regional mall, containing 1.2 million SF. The Community Hospital South Campus, containing many additional specialty medical facilities, is just one mile from Auburn Place, and St. Francis Hospital is located just four miles northeast of the property. Traveling Downtown is quite convenient, as the property sits 11 miles directly south of the city’s center.

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Auburn Place
192 Units
745 Woodale Terrace
Greenwood, IN  46142
Type: Conventional
Closed: 9/13/2018
Sold
Carriage House & Williamsburg on the Lake (2 properties, 420 units)
Carriage House - Elkhart
230 Units
1200 Burr Oak Ct
Elkhart, IN  46517
Type: Conventional
Closed: 8/24/2018
Sold
Carriage House & Williamsburg on the Lake (2 properties, 420 units)
Williamsburg on the Lake - Elkhart
190 Units
1000 Portsmouth Drive
Elkhart, IN  46517
Type: Conventional
Closed: 8/24/2018

Lexington Park is a 362-unit apartment community on Indianapolis’ east side.

Built in 1967, the property consists of 35 two-story residential buildings and a clubhouse on approximately 23 acres. The property offers a variety of floor plans - 1 and 2-bedroom flats, 2 bedroom townhomes and one 3-bedroom townhome. All of the townhome units (with the exception of 7 units) have washer/dryer hook-ups.

The location of Lexington Park offers easy access to interstate 70; making it convenient for residents to access I-465, I-74 and I-65 within just minutes of the property. The Indianapolis CBD, with its vibrant downtown cultural and entertainment attractions and a 30,000 student university (IUPUI), is only a 15-20 minute drive from the property via I-70.

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Lexington Park
362 Units
9027 E. 39th Place
Indianapolis, IN  46236
Type: Conventional
Closed: 7/19/2018