5.31.2013

Orchard Apartments are NOW Available!

Check out this new repositioning opportunity on Indianapolis' northeast side: Orchard Apartments


Investment Highlights:

Popular North Side Location: The community is located on Indianapolis’ popular north side. Occupancy in the immediate northeast side submarket has been above 93% for the last three years.

Priced Well below Recent Sales of Comparable Properties in Same Neighborhood:
At the asking price of $30,400 per unit, Orchard is offered at significantly less than the recent actual sale prices of three properties located within one mile of Orchard.

Exceptionally Convenient Access to Multiple Interstates: The property is located less than one mile southeast of the 56th Street interchange with Interstate-465 (Indianapolis’ interstate beltway). From I-465, four interstates are accessible within a five to ten minute drive.

Near Many Shopping and Employment Centers: Much of the city’s finest shopping and dining is within five minutes of Orchard, including two major Simon malls with high end retailers like Nordstrom’s, Sak’s and Crate and Barrel. In addition, several major employers and business parks are within three miles of the property. The downtown CBD is just a fifteen minute drive using I-465 and I-70.

Improving Occupancy - Currently Leased to 98%: Occupancy has trended up over the last five months. Current leased occupancy is now 98%.

Potential to Add Value through Rental Increases and Water/Sewer Bill-backs:   The current owner recently implemented a revenue management program offering the potential to increase revenue through the continuation of rental increases. In addition, the potential exists to add income through implementation of bill-backs of water and sewer expense.

Repositioning Opportunity: Modest unit upgrades on turns (such as new appliances, brushed nickel light and plumbing fixtures, new cabinet hardware, and simulated wood flooring) should result in stabilized high occupancy and increased rent at Orchard.

Attractive Property with Full Amenity Package: Orchard is well landscaped and includes four spring-fed lakes. Property amenities include a community center/office, swimming pool, fitness center, business center, tennis courts, on-site laundry facilities, extra storage and available covered parking.

2 comments:

The information given is said to be very considerable and the highlighted guidelines also helps to manage the business in a systematic manner.

Construction Service Management Software

I've seen homes here and I'm pretty much blown away by its beauty much like the ones in Lloyd district apartments.

Post a Comment