After a decades-long development hiatus, Broad Ripple, Indianapolis, has excitedly embraced Indy's most captivating mixed-use development. The Coil Apartments and Fresh Thyme Farmers Market are an integral addition to a submarket with extremely attractive demographics - highly educated, high-earning residents.
Current residency boasts an average age of 38 years and a powerful average income of $100,000 with an average credit score of 726. The asset's prestige even allures out of state residents to enjoy the benefits of a growing job market and economy in central Indiana. The Coil is commanding some of the highest rents in the market.
Adjacent to the Indiana Central Canal, in the heart of Broad Ripple Village, The Coil is walking distance from the myriad shops and restaurants in the Village. The convenient location on College Avenue also grants residents direct access to downtown Indianapolis and the Carmel business corridor.
In addition to boasting 151 luxury apartments, the asset includes a 33,500-square-foot flagship Fresh Thyme Farmers Market with a long-term lease, backed by Meijer credit. This is a rare amenity for renters in Indianapolis.
Discerning residents have limited options in an urban-suburban setting and will continue to thrive in this asset for many years to come.
Indianapolis, IN 46220
Louisville, KY 40202
Lexington, KY 40509
Park View Apartments, nestled in the quiet neighborhood surrounding Hawthorne Park in Janesville, Wisconsin is a great opportunity for steady investment. The setting for Park View is idyllic with grand, stately oak trees and an expansive lawn area. Typically appealing to a senior demographic, Park View has been a destination for residents seeking efficient living and access to important amenities like shopping, medical offices, hospitals and pharmacies. Tenants enjoy this asset’s boutique feel, and it shows via high retention rates and long rental tenure as a result.
This is truly a "bread and butter" opportunity for investors seeking low risk and strong returns. This is coupled with the opportunity to convert the asset into a more "senior specific" use giving a new investor multiple executions. In addition, current ownership has secured favorable, assumable agency financing at record-low interest rates, which allows new ownership to generate great returns immediately.
Janesville, WI 53545
Nestled among a lush landscape, including sweeping willow trees and a large, peaceful pond with multiple fountains, Waterleaf Apartments sprawls across 22 acres in the popular Greentree neighborhood of Madison. The asset is a perfect value-add opportunity that affords an owner the ability to renovate units and add amenities. Comprising 176 one-, two- and three bedroom units, Waterleaf Apartments provides endless options to increase value. Until recently, Waterleaf Apartments was encumbered by a LURA (Land Use Restrictive Agreement) with rent restrictions. However, now that the building is fully unrestricted, ownership has begun to push rents on renewals and new leases. A new investor will be able to continue this practice and implement a strategic value-add strategy that could include interior renovations and additional amenities and upgrades. Both the submarket and Madison itself experiences srong rent growth and high occupancies. Rent growth over the past three years has averaged 2.7% and occupancies have hovered around 95%, allowing for long term growth and strong returns.
Madison, WI 53711