Experts on the Indianpolis Apartment Market

Over 70 years of combined experience in the multihousing brokerage industry

60,000 Units Sold Throughout Indiana and Kentucky

Clients include local, regional and national private equity investors; public pension funds; and public and private REITs.

$2 Billion in Multihousing Sales

And the highest number of apartment transactions by any Indianapolis brokerage firm.

Annually Presents the Indiana Apartment "Industry Outlook"

An event hosted in conjuction with the Indiana Apartment Association.

7.11.2013

Arbor Manor NOW Available - Mooresville, IN

 Check out this new high cap rate opportunity in Mooresville, Indiana: Arbor Manor Apartments


Investment Highlights

High Cap Rate on Actual NOI: Rental revenue at the property has been trending upward. The offering price represents a 9.9% cap rate on forecast and an 8.8% on owner’s T-12 NOI.

Significant Recent Capital Improvements: The owner has made significant capital improvements to
Arbor Manor. Major projects include all new roofs (with dimensional shingles) and new gutters in 2011-2012, parking lot resurfacing in 2009, new windows and patio doors in 2008, a new drainage system for the site in 2009 and a full basketball court in 2009.

Potential Revenue Increases Through Additional Fees: The community has policies for Application Fees, Late Charges, Pet Fees but does not always enforce them.

Convenient Mooresville Location: The property is within twenty minutes of Indianapolis International Airport, twenty-five minutes of Downtown Indianapolis and forty minutes of Bloomington (home of Indiana University).

In Area of Projected Continued Growth: The population of Mooresville has doubled in the last twenty
years and growth is predicted to continue well into the future. Over 50% of the total population growth in Indiana over the next thirty years is projected to occur in counties surrounding Indianapolis.