Devonshire Gardens (139 units) and Devonshire Place (106 units) must be purchased together. They can also be purchased with Harrison Point (342 units) and Aura (125 units) in Indianapolis, and Tuscany Bay (96 units) in Lawrenceburg for a total portfolio of 808 units, offering instant economies of scale.
WELL MAINTAINED PROPERTIES WITH DESIRABLE FEATURES
The majority of windows and patio doors were replaced from 2012-2015 at both properties. The exteriors are mostly brick and have mature landscaping with a neighborhood feel. Both properties have very desirable, large townhome units.
A total of 100 units have already been upgraded and are achieving premiums of $70-$100+. Upgrading the remaining 145 units, as well as building exteriors would achieve additional revenue. Average rents are also below competing properties.
Both properties are close together and are walkable to adjacent grocery stores and abundant retail on Green River Road. Deaconness Gateway Hospital and Ascension St. Vincent Evansville Hospital are a short drive. Interstate 69 is just two miles south of the properties.
Evansville, IN 47115
Unique Property with large single-level floor plans
Aura offers residents a large single-level floor plan layout. One bedrooms offer 1,000 SF+ of spacious living and the average unit size is 1,200 SF+. All units have large patios and balconies, and first floor units have a wrought iron enclosed patio. The full amenity set features a fitness facility, pet park (new equipment) and pool (recently refurbished with new pool equipment and poured new deck around pool).
Near Major Employment and Amenities
Numerous major employment centers are within a 15-minute drive of the property. Aura is also very close to Marian University (1,115 emp.), Butler University (500 emp.), Indianapolis Motor Speedway (400+ emp.), Newfields Art Museum & Nature Park (300+ emp.) and the popular 5,300-acre Eagle Creek Park & Reservoir.
Close Proximity to Downtown Indy
Downtown Indianapolis is a quick 10 mile drive from Aura. Downtown is the main employment center and offers countless opportunities for dining, entertainment, sports, festivals and night life.
6.4% Cap Rate - Year One with Additional Upside
The current owner has spent more than a year cleaning up the rent roll and completing evictions for residents with non-payment. The new owner can achieve a 6.4% cap rate in year one by simply normalizing bad debt to 2%. By upgrading classic units, revenue can be increased by an additional $300K annually. Fully upgraded units will likely command a $200+ Premium.
808 Unit Portfolio Offering
Aura can be purchased individually, or together with Harrison Point (342 units) in Indianapolis, Tuscany Bay (96 units) in Lawrenceburg, and Devonshire Gardens (139 units) and Devonshire Place (106 units) in Evansville for a total portfolio of 808 units, offering instant economies of scale.
Indianapolis, IN 46228
1999 Built Property at $130k per Unit
Built in 1999, Tuscany Bay is newer than the majority of the comps, offers larger floorplans, more extensive amenities and W/D hookups in all units. Offered at $130k per Tuscany Bay is well below replacement cost and is located in a high income area with average household income of $95k+ in the one mile radius.
5.8% T-3 Actual Cap Rate & 13.2% Organic Rent Growth
Offering excellent cash flow immediately, Tuscany Bay is offered at a 5.8% T-3 Cap Rate and over a 6.5% Cap Yr 1. On the most recent 20+ leases, the property has achieved a $181/ month average increase in rent. This was achieved organically and not a result of unit upgrades.
Opportunity to Continue Upgrades & Increase Revenue
The current owner has upgraded the clubhouse and renovated 40% of the units. The remaining classic units can be upgraded to achieve additional premiums. A new owner can also provide washer/dryer machines and microwaves to charge a $40 premium and increase the Water/sewer bill back.
Easy Access to Cincinnati & Nearby Major Employers
The location of Tuscany Bay allows for easy access to all that Cincinnati has to offer. With downtown just under 30 min away, residents can access abundant employment, dining, shopping and entertainment options. The property is also conveniently located near major employers.
Purchase Individually or in 808 Unit Portfolio
Tuscany Bay can be purchased with Harrison Point (342 units) & Aura (125 units) in Indianapolis, IN as well as Devonshire Gardens (139 units) & Devonshire Place (106 units) in Evansville, IN, for a total portfolio of 808 units, offering economies of scale. The properties may also be purchased individually.
Lawrenceburg, IN 47025
Acquisition of 32 Union represents an opportunity to own one of the best properties in a high-end high-growth location. The property offers everything high-income dwellers are looking for - from a luxurious amenity set and curated design finishes to a sought-after Noblesville location.
2019 BUILT PREMIER SUBURBAN PROPERTY
Built with amenities and interior unit finishes that cater to high income earners, 32 Union offers luxury in each residence and a comprehensive amenity set that rivals, and is often superior, to any of the nearby competitors.
HIGHEST GROWTH & INCOME COUNTY
Hamilton County boasts the highest income and growth metrics in the entire state. Noblesville offers a highly acclaimed school district and has experienced rapid population growth of 191% since 2010.
CONNECTED TO INDY, CARMEL, FISHERS & WESTFIELD
Located in Noblesville, a high-end suburb of Indianapolis, 32 Union offers its residents easy access to Indy, Carmel, Fishers and Westfield all within a quick drive, providing tremendous employment, retail and service opportunities.
UNDER MARKET RENTS & 19.7% YOY INCOME GROWTH
Demonstrating the ability to grow rents, revenue at 32 Union has increased 19.7% Year-over-year. The current rental rates also trail the nearby competition by $75 - $500 allowing the new owner to continue to increase revenue.
LIMITED NEARBY NEW CONSTRUCTION
Surrounded largely by high end single family homes and The Sagamore Golf Club, there are only a few new properties being add in this submarket of Noblesville.
Noblesville, IN 46060
1. EXCELLENT VALUE ADD POTENTIAL
Burgundy Court offers an excellent true value-add upgrade potential. Through unit renovations and adding additional property amenities, a forecast rent premium of $175 - $325 can be achieved.
2. UNDER MARKET RENTS
Current rents at Burgundy Court are currently on average 20% below nearby competition. A new owner could operate the property as-is and enjoy strong organic growth.
3. PROXIMITY TO EMPLOYMENT AND RETAIL
The properties positioning near Rt 126, the Ronald Reagan Cross County Highway, and I-275, along with the immediate access to a myriad of retail, restaurants and top employers nearby make the property a highly desirable location for tenants.
4. FAVORABLE MARKET FUNDAMENTALS
Cincinnati’s rent growth is currently 9.5% (YOY), submarket vacancy is 4.8% and job growth is projected to be 2.6%. These fundamentals along with Cincinnati’s diverse economy make it well-positioned for both short and long-term growth.
5. IDEAL UNIT MIX COUPLED WITH OPERATING EFFICIENCY UPSIDE
Burgundy Court is a quality asset with an ideal unit mix including 62 sought after 3BR Townhomes. Additional growth can be achieved by adding additional amenities and cost saving opportunities such as implementing a bulk internet/cable package & energy saving LED lighting.
Cincinnati, OH 45239
Attractive Cap Rates - 6.2% T-3 & 7.3% Year 1
Aspen Pointe is in excellent physical condition and offers immediate cash flow selling at a 6.2% T-3 and achievable 7.3% Year 1 Cap Rate. Historical occupancy averages 96% over the last four years.
Fully Renovated - $5.1M+ Capital Infusion
The majority of the property infrastructure has been replaced, and all units have been fully upgraded within the last seven years. Items included replacement of HVAC systems, electrical, plumbing, windows, patio doors and balconies.
Limited Nearby Competition
There is only one competing property close to Aspen Pointe. The remainder of the five competing properties are at least two miles away. This quiet property is nestled among mature landscaping and offers a neighborhood feel that rivals its limited competition.
Close to Logistics Hub, Airport & Interstates
Located on Indy’s southwest side, Aspen Pointe is close to Indy’s logistics hub with nearly 98M SF of facilities, Indianapolis Int’l Airport and significant employers such as Amazon, FedEx Hub, UPS Hub, Target Distribution Ctr., Foxconn and Nippon. Interstates I-465 (0.7 Mi.) and I-70 (1.6 Mi.) offer access to additional employment.
Value-Add Potential with Minor Enhancements
With minor enhancements to all units, and adding amenities, Aspen Pointe could be regarded as the top property among its competition.
Indianapolis, IN 46241
FULLY UPGRADED LIVING EXPERIENCE
River West Flats has been infused with $2.4M in capital and is now fully renovated. The renovation included 100% unit upgrades, all new windows, breaker boxes, complete elevator replacement, all new amenities, common spaces and more.
IUPUI DRIVES INNOVATION
IUPUI (1.5 miles away) boasts an enrollment of 27,000+ students. 74% of the students are in-state residents with 92% of students living off campus.
OPPORTUNITY FOR NEW UNITS & AMENITIES
The acquisition of River West Flats offers the opportunity to add new amenities and additional units. New amenities will aid in competing with downtown new construction properties nearby. Additional units could be add as developable parcels included in the sale and are located in an Opportunity Zone.
5.2%+ GOING-IN CAP RATE
River West Flats offers a strong in-place return and immediate cash flow. The opportunity to own close to the urban core with a going-in cap rate of over 5%is increasingly rare.
ADJACENT TO NOTABLE EMPLOYMENT
Located adjacent to a huge concentration of hospitals (Riley, Eskenazi and University IU Heath) and just 1/2 mile southwest of 16 Tech, a 50-acre innovation district, River West Flats offers residents easy access to employment, retail and services.
FAST ACCESS TO DOWNTOWN & AMENITIES
River West Flats location allows quick access to downtown, which offers vast employment, restaurants and entertainment.
*** The adjacent Candlewood Suites Hotel is also available for sale from the same owner ***Click here for more information
Indianapolis, IN 46222
5.9% T-3 CAP RATE / $140K PER UNIT
Buffalo Creek is being offered free and clear by the long-term owner (15+ years) at an attractive price of $140k per unit. The property is well-performing with an average historical occupancy of 97.5% (last four years). T-3 Cap Rate is 5.9% and Year One Cap Rate (without upgrades) is 6.5%.
PROVEN VALUE-ADD POTENTIAL
The current owner has upgraded 72 units, which are achieving an average monthly rent premium of $131. Further rent growth could be achieved by upgrading 236 classic units and improving upon the 72 units already upgraded. Nearby properties have completed upgrades and are achieving higher rents. A new owner could also continue to operate the property as is without upgrades and achieve organic rent growth.
UNIQUE PROPERTY WITH EXTENSIVE AMENITIES
Ideally situated within an upscale mixed-use planned development, Buffalo Creek was built by J.C. Hart, a well-respected Indianapolis developer. The low-density property offers lush landscaping with five scenic lakes, attractive exterior architecture, beautifully designed units and an extensive list of amenities including a state-of-the-art fitness center, sports courts, dog park, putting green and outdoor social spaces.
EXCELLENT HIGH-GROWTH AREA
The property is adjacent to the city of Greenwood (Johnson County), a sought-after south suburb of Indianapolis enjoying 23% population growth since 2010. Average rents for the south side increased 13.8% year-over-year. The area is also known for well-performing schools and proximity to downtown Indianapolis, offering additional employment opportunities for residents.
HIGH TRAFFIC LOCATION NEAR AREA'S BEST AMENITIES
The property entrance is visible from high-traffic County Line Road (23,386 AADT). Residents benefit from proximity to major employer Community Hospital South, and two dense corridors (Meridian Street/SR-135 and US-31) filled with the south side’s best shopping, dining and entertainment options including the popular Greenwood Park Mall, containing 1.2M SF and more than 150 retailers.
Indianapolis, IN 46227
NEW WALKABLE PRODUCT - 4.7% T-3 CAP RATE
Wesmont is a 2021-built modernistic urban community adjacent to the Monon Trail and connected to downtown. Residents can easily walk to top amenities including Bottleworks District, Mass. Ave. cultural district, coffee shops, restaurants, breweries, distilleries and more. Met with high demand, the property leased up in less than one year and is now 97% occupied and offered at a 4.7% T-3 Cap Rate.
UPSCALE & MODERN WITH UNDER MARKET RENTS
With a resort-style pool, outdoor gathering spaces, indoor lounge, fitness center, pet wash, and adjoining large soccer park/green space, PROVIDER Coffee, Tinker Street, and Hotel Tango Distillery, residents have all they need. Current Market Rates are $210+, on average, below nearby competing properties.
LUXURY UNIT INTERIORS
Unit interiors feel spacious with open concept living, 9’ ceilings and walk-in closets. Luxurious finishes include granite counters, stainless appliances, kitchen island and in-unit washer and dryer.
POPULAR, RAPIDLY EXPANDING NEIGHBORHOOD
The property is situated near expanding and historic northside neighborhoods where homes are affluent and sell for exponentially more than the MSA as a whole. New adjacent amenities include a COhatch coworking center with North High Brewery, and a splash park and playground at the O’Bannon soccer park.
FAVORABLE 10-YEAR TAX ABATEMENT
Wesmont has 10-year tax abatement in place that ends in the year 2030 offering the new owner increased cash flow. 38 Units must be leased to residents earning 60%-80% or less of Area Median Income (19 at 60% and 19 at 80%). Current Market Rents are, on average, $295+ below the Max Allowable Rents.
ATTRACTIVE EXISTING DEBT
Wesmont is being sold subject to the assumption of an attractive existing Freddie Mac loan with a 4.20% interest rate and 62% LTV and 10 years of fixed rate term.
Indianapolis, IN 46202
Speedway, IN 46224
5.5% CAP RATE + 13% INCREASE ON LEASE TRADEOUT
WestPark is offered at a high 5.5% trailing cap rate and is a well-performing property. With organic rent growth of 13.3% on new leases in Q2 2022, 60% renewal rate year-over-year and historically high occupancy, the property is poised for a robust ROI.
$20K/UNIT RENO COMPLETED ON ALL UNITS
A $20K per unit renovation has been completed on all units. Upgrades included all new soft close modern cabinetry, granite counters, stainless steel appliances, undermount deep basin kitchen sink with spray faucet, LVT plank flooring, all new light fixtures, and two-tone paint scheme.
VIBRANT WEST SIDE EMPLOYMENT
Ideally located on the west side of Indianapolis, WestPark is visible along high-traffic 10th Street just north of the Indianapolis Int'l Airport and adjacent to fast-growing and prosperous Hendricks County. Residents can quickly access abundant major employment including prime logistics facilities and IU Health West Hospital.
POPULAR TOWNHOME LAYOUTS
The townhomes at Westpark are spacious at 1,125-1,380 square feet and feature ample closet space, private entries, washer/dryer connections, separate dining room and a patio or balcony in most units. The three-bed layouts include a bonus room on the first floor.
UPSCALE CLUBHOUSE & ATTRACTIVE AMENITIES
The two-story clubhouse recently underwent a full modern renovation with an upscale design and includes a large fitness center, kitchenette with island, and lounge with fireplace. Just outside the clubhouse is a swimming pool with expansive deck, playground and Amazon hub.
Indianapolis, IN 46214
5.8% TRAILING CAP RATE + 100% OCCUPIED
Melrose Place is being offered at a high 5.8% trailing cap rate and is currently 100% occupied. The property is well-positioned for increased revenue by raising rents on new leases.
RENOVATED TURN KEY PROPERTY
A new owner can step in and operate the property as is with several improvements completed including all new HVAC units, water heaters, landscaping and balconies. All units have new modern cabinetry, quartz countertops, black appliances, plumbing and light fixtures, LVT flooring, two-tone paint scheme and in unit washer/dryer.
$2B LILLY INVESTMENT BRINGING 500 NEW JOBS
A transformational development is taking place with the largest investment to date in Lebanon. The LEAP Lebanon Innovation and Research District, a planned 7,000+ acre high-tech business park, has acquired its first tenant. Eli Lilly plans to invest $2.1 Billion to build two new manufacturing sites and bring up to 500 new jobs to the city.
GREAT LOCATION IN LEBANON (BOONE COUNTY)
The property is within walking distance to dining and shopping options in downtown Lebanon, and is close to major employers including Subaru, Skjodt-Barrett Foods, Festool (HQ) and Hachette Book Group. Lebanon is the county seat of Boone County—the fastest-growing county, and one of the most affluent, in Indiana.
CONVENIENT ACCESS TO INDIANAPOLIS & LAFAYETTE
Located in central Indiana, Lebanon is convenient to abundant employment and amenities in Indianapolis (±11 miles southeast) and Lafayette (Home of Purdue University, ±33 miles northwest). Both cities are accessible from Interstate 65, just one mile west of Melrose Place.
Lebanon, IN 46052
CLEAR VALUE-ADD POTENTIAL
The Sycamores is perfectly positioned for supplemental upgrades. A new owner could increase revenue by fully upgrading all units, adding washer/dryer connections, building additional units, renting storage units and extra carports, and re-purposing the tennis courts.
The current owner has completed over $1.6 Million in improvements. These include light upgrades to 105 unit interiors, 22 new roofs, new bark park, new playground, updated clubhouse, two new BBQ areas, and upgrades to the pool area.
UPSCALE, GROWING SOUTH SIDE SUBURB
Residents enjoy quick access to Downtown Indianapolis’ diverse employment options and well-performing schools. Less than two miles south is the city of Greenwood, a sought-after south suburb with a fast-growing population and high average household incomes.
PROXIMITY TO AREA'S BEST AMENITIES
The property has excellent visibility along the high-traffic Stop 11 Road. Residents benefit from quick access to US-31, Madison Avenue and SR-135—dense corridors filled with shopping, dining and entertainment options.
EXCELLENT FLOOR PLANS
The Sycamores offers spacious, open floor plans with desirable layouts in one, two and three bedroom unit styles.
Indianapolis, IN 46227
1989-Built Renovated Community
The current owner has spent $2.2M improving the property. Upgrades included 205 unit interiors, fitness center expansion and refresh, addition of restrooms outside near the pool area, and exterior paint on six buildings.
A new owner could operate the property as is and enjoy organic rent growth, or gain additional premiums of $136-$243 by completing a light upgrade on all units, and adding valet trash, an Amazon hub and an outdoor kitchen in the pool area.
Excellent North Side Location
The property offers convenient access to I-465 and major thoroughfares in addition to the vast employment and amenity options of Broad Ripple Village, Keystone at the Crossing, Castleton, Fort Ben and Downtown Indianapolis.
Newest Property in Submarket
Trails at Lakeside is one of the newest properties in the Broad Ripple area, and offers superior amenities, great curb appeal and a quiet atmosphere.
Strong Property Performance
Organic rent growth at the property is high at 17.5% on new leases and 12.2% on renewals. Occupancy has consistently remained above 95% for multiple years and the property has low bad debt.
Trails at Lakeside can be purchased individually, or as a portfolio with Lodge at Trails Edge, The Rail at 1380 and Salem Courthouse for a total of 1,016 units, offering immediate presence and economies of scale.
Indianapolis, IN 46220
2001 BUILT ASSET OFFERED AT $199K/UNIT
Pebble Brook Village offers all new roofs, new wood trim (in process) and sought after features that compete extremely well with new construction properties. At $199K/unit, the property is offered well below similar era product that recently traded at $250K/unit.
UPSIDE POTENTIAL WITH PROVEN RENT PREMIUMS
91% of the units are mostly original to the 2001 construction, offering the opportunity to increase revenue by completing a renovation on 214 classic units and adding amenities. The 9% of units that have been renovated are achieving $360+ average rent premiums.
23%+ ORGANIC RENT GROWTH
High rent growth is being achieved at the property with a recent 23% increase on renewals and 28% or $283 average increase on new leases. These rent increases are organic (obtained on non-renovated units).
HIGHEST GROWTH & INCOME COUNTY IN THE STATE
Hamilton County boasts the highest income and growth metrics in the entire state. Noblesville offers limited competition from new construction, a highly acclaimed school district and has experienced rapid population growth of 31% since 2010.
CONNECTED TO INDY, CARMEL, FISHERS & WESTFIELD
Located in Noblesville, a high-end suburb of Indianapolis, Pebble Brook Village offers its residents easy access to Indy, Carmel, Fishers and Westfield all within a quick drive, providing tremendous employment, retail and service opportunities.
Noblesville, IN 46060
IRREPLACEABLE URBAN LOCATION
Millikan on Mass II is located within downtown Indianapolis along Mass Ave—the city’s #1 nightlife, dining and entertainment district. Residents are steps from a wide array of the best and most popular amenity options downtown has to offer.
OFFERED BELOW REPLACEMENT COST - $195K/UNIT
The cost to construct Millikan on Mass II in today’s market would cost significantly more than it did in 2015. According to NAHB, building materials prices increased 20.4% year over year and have risen 33% since 2020. With a pricing guidance of $195K per unit, the property is offered well below the replacement cost point.
UPSIDE POTENTIAL WITH UNDER MARKET RENTS
The property is owned by the City of Indianapolis Housing Agency which has struggled with staffing and turning units, even with an extensive waiting list. There is ample operational upside in a very strong market. Current market rents are $300-500 below nearby competing properties. The new owner could immediately raise rents organically on new leases and renewals to increase revenue.
CONVENIENT TO DIVERSE & ABUNDANT EMPLOYMENT
With award-winning employers within walking distance, the property’s location brings ‘Live-Work-Play’ to another level. The diversity of employers downtown (from tech to education and healthcare) offers a high level of stability in resident employment.
NEWER URBAN PRODUCT WITH FIRST FLOOR RETAIL
Built in 2015, the property features high-end finishes and open floor plan living with gorgeous views of Mass Ave and downtown Indy. Three popular eateries—Fat Dan’s, Goodfella’s Pizza and Salt on Mass—are convenient for residents to access on the first floor of the building.
The General Partner Interest for Millikan on Mass I (61 Units) is also be offered. More information can be downloaded from the Document Center after a Confidentiality Agreement as been executed.
Indianapolis, IN 46204
WELL PERFORMING, BEST IN MARKET ASSET
New residents are drawn to the city’s best asset with condo-quality finishes and high-end living. The community amenities provide an upscale lifestyle feel and include a resort-style pool area with a grilling pavilion and TV lounge with fireplace.
LUXURIOUS SINGLE-FAMILY FEEL
The design and layout of Sycamore Terrace provide a quiet and secluded single-family feel with features like spacious units (1,236 Avg. SF) with open floor plans, 9’ to 10’+ ceilings, ample storage, and 50% of the units offer attached direct access garages.
RENT ELEVATION WITH LIGHT UPGRADES
Sycamore Terrace could be further elevated with minor enhancements to bring the property to the next level. This will assist in driving resident appeal and increasing rental rates.
CLOSE TO AMPLE EMPLOYMENT & AMENITIES
The city’s newest major amenity—Queen of Terre Haute Casino, (500 jobs coming late 2023) is less than one mile away. Sycamore Terrace also benefits from ample adjacent retail/dining, and quick access to I-70, SR-46, diverse employment, Terre Haute Regional Airport, four colleges/universities, and downtown Terre Haute.
EXCEPTIONAL MARKET FUNDAMENTALS
The Terre Haute multifamily market shows strong rent growth at 8.7% year-over-year and an average market-wide occupancy of 97%. Additionally, there has been very limited new construction over the last five years with nothing currently in the pipeline.
CITY'S MOST AFFLUENT AREA
The property is situated in the city’s most affluent area. The average household income within one mile of Sycamore Terrace is over $101,000 with an average home value of $232,524.
Terre Haute, IN 47803
5.7% Cap - 2000 Built Property - $105K/Unit
Mill Pond offers the rare opportunity to purchase a 2000s built well maintained asset with a 5.7% going-in cap rate and at a low $105K/unit basis with upside potential.
Proven Rent Premiums
A new owner has the opportunity to continue to upgrade units and add and enhance the amenity set. Proven rent premiums for upgraded units are up to $385.
City's Highest Income Area
The northeast side of Muncie is the highest-end area of the city with average household incomes of $74,000+ . The location offers nearly instant access to and viability on McGalliard Rd, the city's main commercial corridor.
$1.5M Capital Infusion Completed
A $1.5M+ capital infusion included extensive interior renovations with all new luxury-level finishes, new kitchens and baths, and new LVP flooring in 14 units. Other improvements included 100% roof replacement, hallways updates and more.
Meds and Eds
Muncie is best known for its medical and educational institutions. Ball State University boasts 22,000 students and is the state's most prestigious school for education and architecture. Ball Memorial Hospital is a teaching hospital and the city's only hospital.
Muncie, IN 47304
Lafayette, IN 47901
A new owner has the opportunity to increase revenue through upgrading unit interiors with anticipated rent premiums of $165-$180.
VIBRANT Elkhart MARKET
Elkhart has experienced limited apartment development in the past 3 decades, with vacancy holding all-time lows, most communities have wait lists and rents showing consistent growth over time.
SEAMLESS EMPLOYER CONNECTIVITY
Centrally located to Elkhart / St. Joe County’s largest job centers, Woodwind and Hunters Pond provide sought-after convenience to employers in Elkhart’s main business corridor as well as a short commute to Mishawaka / South Bend.
LOW DENSITY SINGLE-FAMILY HOME FEEL
Hunters Pond offers residents a single-family neighborhood vibe. All units have in-direct access garage parking, water views and a beautiful mature wooded setting.
DESIRABLE UNIT FEATURES & AMENITIES
All units include washer and dryer machines and black appliances at both properties. Residents enjoy access to an on-site commercial gym at Woodwind, as well as a swimming pool, playground, and clubhouse.
Elkhart, IN 46516
Located in Hamilton County and the City of Westfield, the Cottages at Sanders Glen residents benefit from one of the best locations in the state. Westfield is home to a host exciting new developments and boasts the highest population growth in the state with 7.7% in 2021 and 65.5% since 2010.
Walkable Suburban AssetCottages at Sanders Glen is walkable to Downtown Westfield and the new Grand Junctions Plaza as well as resturants, breweries, shoping and the YMCA.
Single Family Feel
Private driveways, attached garages and individual entrances give the property a single family residential feeling.
Stunning High-End Finishes
Cottages at Sanders Glen is a brand new asset with luxurious high-end design and architecture. Beautiful features include vaulted ceilings, bright and airy open floorplans, breakfast bar seating and ample granite countertop space.
Westfield, IN 46074
UPCOMING RELEASE FROM INCOME RESTRICTIONS
In August of 2022, Pleasant Springs will be released from the Low Income Housing Tax Credit program which restricts the income level of 100% of the units. The new owner can immediately increase rents for new residents (without restrictions) and can also raise rents for existing income restricted residents at lease renewal between $94 to $527 (on average, varying by floor plan).
ADJACENT TO TRENDY NEIGHBORHOODS
The Fountain Square and Bates-Hendricks neighborhoods are just north of Pleasant Springs, where modern new-build and rehabbed homes are selling between $400K-800K. Fountain Square is a popular destination for eclectic dining, shopping, arts and entertainment. Bates-Hendricks is an up-and-coming hot spot with unique home and existing/planned businesses. Nearby apartments are renting for significantly higher than Pleasant Springs.
WELL-BUILT PROPERTY SOLD BY ORIGINAL DEVELOPER
Pleasant Springs was well-built and is being offered free and clear by the long-term owner and original developer. The property is well-maintained and offers a diverse unit mix with spacious one-, two-, three- and four-bedroom floor plans.
CLOSE TO DOWNTOWN INDY EMPLOYMENT & AMENITIES
The location of Pleasant Springs allows for quick access to downtown Indy just under two miles away. Downtown offers abundant employment, dining, shopping and entertainment options.
Indianapolis, IN 46203