- Proven Value-Add Strategy for Substantial Return on Investment
- Huge Upside Potential on 60% of Units | Average Rent Premiums of $280+
- Great Connectivity | Proximate to Key Demand Drivers
- Opportunity to Achieve $530,000+ in Additional Revenue
- Offered Free & Clear of Existing Debt
Proven Value-Add Strategy for Substantial Return on Investment
Constructed in 1989, Lochwood Apartments has a proven business plan for moderate unit modernizations. New ownership has the extraordinary opportunity to continue this successful business plan, enabling capture of significant rent premiums and outsized returns. Furthermore, the Southern Indiana submarket experienced strong rent growth of 7.1% in 2022, significantly surpassing the previous year of 4.2%.
Huge Upside Potential on 60% Of Units | Average Rent Premiums of $280+
With continued moderate upgrades to unit interiors, new ownership can achieve an effective rent increase average of $284 per unit (monthly) in upside on roughly 60% of the units, as evidenced by the substantial rent premiums already being achieved on renovated units at the asset.
Great Connectivity | Proximate to Key Demand Drivers
Lochwood is situated between two major retail corridors that offer a multitude of restaurants, retail outlets, grocery stores, and office space – with easy access to Indiana Highway 62 and Interstate 65 providing efficient access to downtown Louisville in less than 7 miles or 11 minutes.
