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.

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