5.16.2014

Multifamily Investment Opportunity: Teal Run

Checkout this exciting new opportunity to invest in an Indianapolis multifamily asset. For more information or to download a full offering memorandum visit our website HERE.

Teal Run Investment Highlights:


Multiple Ways to Add Value
  • Unit Upgrades: Property rents can be increased following upgrades of unit interiors.
  • Common Area Amenity Additions/Upgrades: Among other possibilities, desirability can be improved through a Clubhouse remodel to expand amenities and the conversion of existing tennis courts to a pet park or playground.
  • Water/Sewer Bill-backs: Based on the current occupancy and continuing strong leasing traffic, the institution of a water/sewer bill-back ($10 for a One Bedroom and $20 for a Two Bedroom) is readily achievable.
Significantly Improving Operations: New on-site staff is in the process of improving both operations and occupancy at Teal Run.

High Current Occupancy: Occupancy on May 5 was 95.4%
 
Discount to Replacement Cost: Teal Run offers an investor the opportunity to acquire a property well below replacement cost.
 
Convenient to Interstates and Employment Centers: The property is close to access to Interstate 70 and Interstate 465 (Indianapolis’ interstate beltway). The downtown CBD is within fifteen minutes of the property. The community is also near numerous large employment centers. Among the largest employers near Teal Run are Adidas (1,000 employees), Finish Line (700 employees with 300 more planned by end of 2015) and Celedon Trucking.
 
New Roofs in 2011: Roofs are pitched with composite asphalt shingles. All roofs were replaced in 2011.

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