El Dorado

INVESTMENT HIGHLIGHTS

90 of 164 units are 3 or 4 bedrooms over 1,400 SF High Mission Driven asset, allowing for aggressive agency debt pricing Current owner organically increasing rents $170+ with no renovation 77% of units are still $350+ below market Largest Floorplans in Indianapolis MSA Offered at very attractive price per unit and price per square foot

THE OPPORTUNITY

Berkadia is pleased to present the exclusive opportunity to acquire El Dorado in Indianapolis next to the Indianapolis Motor Speedway, a 164-unit, value-add property located on the west side of Indianapolis, Indiana. Built in 1973 and rehabbed in 2008, the property offers immense upside with the current owner implementing a strong management team that has organically raised rents over $170 on average with no renovations. The property offers a new owner immediate upside, as current average rents are $350+ below market rates. The property is offered free and clear of debt with a high mission driven debt opportunity. Another particularly attractive demand driver this property offers is its proximity to the former Lafayette Square Mall, which is currently undergoing a massive $200+ million, mixed-use redevelopment project, called Window to the World, sure to be a major draw for residents.

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GALLERY

3621 Lawnview Ln – Indianapolis, IN 46222

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3621 Lawnview Ln – Indianapolis, IN 46222

EL DORADO

1973

BUILT

164

UNITS

The Opportunity

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Contact

Doc Center

Privacy

Sam Orman

Associate Director 463.333.7061 sam.orman@berkadia.com

Austin Katai

Associate Director 248.974.7826 austin.katai@berkadia.com

MORTGAGE BANKING

Chris Bruzas

Managing Director 312.845.3093 chris.bruzas@berkadia.com

Dan Holdcroft

Director 317.908.0499 dan.holdcroft@berkadia.com

INVESTMENT SALES

Indiana Office

211 West Main Street Suite 302 Carmel, IN 46032

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Berkadia®, a joint venture of Berkshire Hathaway and Jefferies Financial Group, is an industry leading commercial real estate company providing comprehensive capital solutions and investment sales advisory and research services for multifamily and commercial properties. Berkadia® is amongst the largest, highest rated and most respected primary, master and special servicers in the industry. This advertisement is not intended to solicit commercial mortgage loan brokerage business in Nevada. © 2023 Berkadia Real Estate Advisors LLC and Berkadia Real Estate Advisors Inc. Berkadia® and Berkadia Commercial Mortgage® are trademarks of Berkadia Commercial Mortgage LLC. Investment sales and real estate brokerage businesses are conducted exclusively by Berkadia Real Estate Advisors LLC and Berkadia Real Estate Advisors Inc. Commercial mortgage loan origination and servicing businesses are conducted exclusively by Berkadia Commercial Mortgage LLC and Berkadia Commercial Mortgage Inc. Tax credit syndication business is conducted exclusively by the Tax Credit Syndication group. For state licensing details for the above entities, visit: https://www.berkadia.com/licensing/.