Multifamily Investment Opportunity: Broad Ripple Trails

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Broad Ripple Trails Investment Highlights:

Outstanding Location in Immensely Popular Broad Ripple: The community is situated in Broad Ripple (also called Broad Ripple Village), an extremely sought-after residential and entertainment destination for college students and young adults. “The Village” offers perhaps the most eclectic and popular mix of restaurants, shops, bars and live entertainment in Indianapolis.

In Fast Growing “SoBro” (South Broad Ripple): Broad Ripple Trails’ specific location within Broad Ripple is near the heart of “SoBro” (the southern end of Broad Ripple). SoBro is the most rapidly growing part of Broad Ripple from the perspective of new entertainment and dining attractions. More than two dozen restaurants and bars (as well as an upscale supermarket) are clustered in SoBro between 49th and 56th Streets. Most of these destinations are within easy walking distance of Broad Ripple Trails.

Exceptionally High Historical Occupancy: For more than three years the property’s average monthly occupancy has exceeded 94% and occupancy has often approached 100%. Current occupancy is approximately 95%.

Ideal Value-Add Opportunity: Broad Ripple Trails provides the rare combination of a stable asset in an outstanding location with the opportunity to increase value through investment in common areas and additional unit upgrades. The increasing popularity of the immediate area will provide strong and increasing rental demand.

Newer Roofs: All roofs and gutters were replaced due to a hail storm in 2006. In addition, 131 units have kitchen, bath, flooring and lighting upgrades.

Excellent Variety of Unit Types: The community has an attractive variety of floor plans and a mix within each floor plan of both standard and deluxe (upgraded) units, providing leasing options to a wide variety of prospective renters.

Near The Extremely Popular Monon Trail:
Broad Ripple Trails is within three blocks of the Monon Trail, a biking, jogging and walking trail which runs from downtown Indianapolis through Broad Ripple and north to Carmel and Westfield, Indiana. The Monon Trail is visited by over 1.25 million people each year, making it the most used trail in Indiana.

Convenient to City’s Best Shopping, Major Employment Centers, Universities and the Downtown CBD: Broad Ripple Trails is within fifteen minutes of the city’s finest shopping malls and office parks on the affluent far north side and is also within convenient distance of the Indianapolis Downtown CBD and three major universities: Butler, Ivy Tech and IUPUI.


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