2.27.2014

Multifamily Investment Opportunity: English Village

Checkout this new multifamily investment opportunity! 



Assumable Existing Loan with 3.72% “All-in” Interest Rate and Extremely Attractive Leverage and Terms: The property is offered subject to an existing HUD, 35-year, fully amortizing, non-recourse loan with an “all-in” interest rate (including mortgage insurance premium) of 3.72%. At the offering price the loan offers approximately 80% Loan to Value leverage.

One of Newest Properties in Its Submarket: Completed in 1988, English Village is one of the last properties built inside the east leg of Indianapolis’ interstate beltway. The area is now fully-developed, providing a barrier to additional apartment construction.

Exceptionally Convenient to Downtown CBD, Interstates and Major Employment Centers: The property’s location is within five to ten minutes of four interstate highways (Interstates I-465, I-65, I-70 and I-74), ideal for residents working downtown or at the many employment centers situated near the interstates.  The downtown CBD and Indiana University–Purdue University Indianapolis (29,000 students) are both approximately fifteen minutes to the west via I-70.

Several Opportunities to Create New Value: English Village offers buyers the opportunity to increase revenue through:
  • Upgrade of unit interiors (three upgraded units are renting at a $50 per month premium)
  • Addition of washer/dryer hookups (two units with hookups rent at a $50 per month     premium)
  • Clubhouse renovation (can create fitness and/or business center without enlarging)
  • Addition of swimming pool (the property includes ideal space by the clubhouse for a pool and deck)
Attractive, Well Maintained Buildings and Grounds: Building exteriors are attractive brick and vinyl siding. The community has been very well maintained.

Quiet Atmosphere: In spite of its proximity to interstates and other major commercial development, English Village offers residents a quiet atmosphere, neighbored by woods and/or single family development in each direction.

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