Aspen Chase is a 1980’s built, 130-unit, well-located apartment community on the northwest side of Indianapolis. The northwest rental submarket has been strong, with an average submarket occupancy rate of 93% and rent growth of 3.6% in 2018. The property’s occupancy is also strong, with current occupancy at 93.1%.
The community offers an attractive mix of one and two-bedroom flats and two and 3 bedroom townhomes. Constructed in 1981 by the respected developer the Gene B. Glick, the community consists of fourteen two-story apartment buildings situated on 10.05 wooded acres. In addition to its quiet, wooded setting, community amenities include a swimming pool with sun deck, two on-site laundry centers and available covered parking. Units feature attractive floor plans ranging in size from 700 to 1,200 square feet. Unit features vary by floor plan but include patios or balconies, walk-in closets, wood-burning fireplaces and outside storage closets. All townhome units include washer/dryer hookups.
Aliro offers a tremendous value-add investment opportunity because of its economies of scale, proven performance, and upside. Ownership has spent millions in recent capital improvements and has completed 338 in-unit renovations leaving 531 classic units available to be renovated by future ownership.
Harrison Point is an exceptionally well-maintained workforce housing community located on Indianapolis’ suburban east side. While originally constructed in the late ’60s, the property has been significantly renovated and has the look and feel of a much newer community. New exterior vinyl siding, fresh exterior painting, all new roofs and wood decks, updated signage and newer windows provide excellent curb appeal.
The community is situated on 25+ acres with 8 two-story buildings and offers an attractive mix of studios, 1, 2 and 3-bedroom units. All units offer private entries in a popular courtyard style layout. Harrison Point offers its resident a full amenity site with onsite laundry facilities (machines owned by property), fitness center, sparkling pool, soccer field and newly built pavilions.
Harrison Point is located just east of I-465 on Post Road, a major commercial thoroughfare, with convenient access to I-70 and I-69. Numerous large employment centers are just minutes from the property. Residents enjoy a quick commute to downtown Indianapolis and to the popular northside of Indianapolis.