1. Proven Value Add Opportunity
a. Current Owner has upgraded 184 units with new black appliances, new cabinet door and hardware, new light fixtures and flooring. These upgrades achieve up to a $80 premium depending on the floorplan. A new owner has the opportunity to upgrade the remaining 57 units.
2. Excellent Northside Infill Location
a. Fountain Parc is located off I-69, only minutes from Broad Ripple, Castleton, Keystone at the Crossing, and a short drive to downtown Indianapolis.
3. Recent Capital Improvements Completed
a. Property has undergone $1M in capital improvements in the last 2 years including fitness center renovation, new leasing center, new signage, interior unit upgrades, and new bark park, playground, and bocce.
4. Strong Northeast Indy Submarket
a. With 96% Average Occupancy of the surrounding comps and Rent Growth of 3.3% in 2020 the Northside of Indy continues to display growth and stability.
5. Offered Free & Clear
a. The ability to purchase Fountain Parc free and clear allows new owners to take advantage of current all-time low rates, interest only periods and maximum leverage which all increase buyer returns
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