As exclusive advisor, MMG Real Estate Advisors is pleased to present the opportunity to acquire Bingham Square and Madison Square Apartments, a 198-unit, 2-asset portfolio located in Anderson, IN. These assets feature a balanced mix of one, two, and three-bedroom units. The property’s central location provides easy access to the city’s downtown business district, Anderson University, and Interstate 69, making a commute to the thriving Indianapolis MSA simple. New ownership has the opportunity to expedite the interior value add program due to low occupancy at the properties. Once complete, new ownership can lease up at market standard rents, stabilizing the assets in a short period. This is an opportunity to buy a centrally located, value-add asset with an all-in basis well below replacement value.
- 100% Classic Interiors Offer Upside Opportunity
- 198 Units Provide Immediate Scale
- Convenient Highway Access to Indianapolis MSA
- Offered Free & Clear of Existing Debt
100% Classic Interiors Offer Upside Opportunity
The 100% classic interiors of Bingham Square and Madison Square Apartments present a prime opportunity for value enhancement through renovation. With all units featuring classic layouts and design elements, investors have the potential to upgrade these spaces to contemporary standards, increasing their desirability and commanding higher rental rates. This strategic renovation approach not only improves the aesthetic appeal of the properties but also boosts their income-generating potential, offering a clear path to maximizing return on investment.
198 Units Provide Immediate Scale
Boasting a total of 198 units, Bingham Square and Madison Square Apartments offer an ideal scale for new investors or groups seeking entry into the market. This substantial size provides economies of scale, allowing for efficient management and operational optimization. Moreover, the diverse unit mix caters to a broad range of tenant demographics, enhancing market appeal and occupancy stability. The scale of this portfolio presents a compelling opportunity for growth and diversification within the Anderson, Indiana rental market.
Convenient Highway Access to Indianapolis MSA
Situated less than 5 miles from Interstate 69, Bingham Square and Madison Square Apartments enjoy excellent connectivity to the greater Indianapolis Metropolitan Statistical Area (MSA) and its burgeoning northern suburbs. This strategic location not only facilitates convenient access to downtown Indianapolis but also positions the properties within reach of the region’s expanding economic and residential hubs. Proximity to major transportation arteries enhances tenant convenience and marketability while bolstering potential for sustained rental demand and property value appreciation.
Offered Free & Clear of Existing Debt
Bingham Square and Madison Square Apartments are offered free and clear of existing debt, allowing new ownership to have full control and flexibility in shaping the financial structure of the investment and pursuing various financing options dependent on their specific requirements and preferences.
