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.

The Cushman & Wakefield Florida Multifamily Advisory Group is pleased to present the 267-unit The Lexington community located in Sarasota, Florida.

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:

PORTFOLIO OPPORTUNITY SOLD BY LONG-TERM OWNER

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: