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Beech Tree Glen 240 Grovewood Pl 76 Unit Apartment Building $9,375,513 CAD ($123,362 CAD/Unit) Beech Grove, IN 46107
Executive Summary
ATTRACTIVE PROPERTY FUNDAMENTALS
Beech Tree Glen is a 76 unit apartment complex in Beech Grove, Indiana,
conveniently located in the suburbs of Indianapolis. The community boasts an
attractive mix of one-bedroom and two-bedroom apartment homes ranging in
size from 800 to 900 square feet. Beech Tree Glen Apartments were built in
1970 and have been well maintained over the years.
Beech Tree Glen historically operates in the mid-90%’s occupancy and through
a detailed review of the rent roll, IPO has discovered that the property’s rents
are 10-15% below market.
Throughout the current ownership’s stewardship of the property, it has seen
significant and consistent capital improvements. These improvements have
included light unit renovations, parking lot work and the addition of a formal
leasing office on the property.
At such an attractive basis we anticipate this deal will not last long.
Beech Tree Glen is a 76 unit apartment complex in Beech Grove, Indiana,
conveniently located in the suburbs of Indianapolis. The community boasts an
attractive mix of one-bedroom and two-bedroom apartment homes ranging in
size from 800 to 900 square feet. Beech Tree Glen Apartments were built in
1970 and have been well maintained over the years.
Beech Tree Glen historically operates in the mid-90%’s occupancy and through
a detailed review of the rent roll, IPO has discovered that the property’s rents
are 10-15% below market.
Throughout the current ownership’s stewardship of the property, it has seen
significant and consistent capital improvements. These improvements have
included light unit renovations, parking lot work and the addition of a formal
leasing office on the property.
At such an attractive basis we anticipate this deal will not last long.
Property Facts Under Contract
| Price | $9,375,513 CAD | Building Class | C |
| Price Per Unit | $123,362 CAD | Lot Size | 5.84 AC |
| Sale Type | Investment | Building Size | 38,944 SF |
| No. Units | 76 | Average Occupancy | 91% |
| Property Type | Multifamily | No. Stories | 2 |
| Property Subtype | Apartment | Year Built/Renovated | 1970/2021 |
| Apartment Style | Garden | Parking Ratio | 3.85/1,000 SF |
| Zoning | ZO01 - Multifamily | ||
| Price | $9,375,513 CAD |
| Price Per Unit | $123,362 CAD |
| Sale Type | Investment |
| No. Units | 76 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 5.84 AC |
| Building Size | 38,944 SF |
| Average Occupancy | 91% |
| No. Stories | 2 |
| Year Built/Renovated | 1970/2021 |
| Parking Ratio | 3.85/1,000 SF |
| Zoning | ZO01 - Multifamily |
Amenities
Unit Amenities
- Air Conditioning
- Cable Ready
- Dishwasher
- Ceiling Fans
- Kitchen
- Refrigerator
- Oven
- Range
- Tub/Shower
Site Amenities
- 24 Hour Access
- Laundry Facilities
- Playground
- Property Manager on Site
- Maintenance on site
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 24 | - | 800 |
| 2+1 | 52 | - | 900 |
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Fairly walkable
40/100
Exceptionally drivable
100/100
Limited public transit
30/100
Somewhat bikeable
30/100
Property Taxes
| Parcel Numbers | Improvements Assessment | $5,505,328 CAD | |
| Land Assessment | $722,594 CAD | Total Assessment | $6,227,922 CAD |
Property Taxes
Parcel Numbers
Land Assessment
$722,594 CAD
Improvements Assessment
$5,505,328 CAD
Total Assessment
$6,227,922 CAD
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Beech Tree Glen | 240 Grovewood Pl
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