3553 Founders Road is amulti-family property for lease in Indianapolis, IN.
220-Bed Student Housing Complex
ONLINE AUCTION :: MAY 20
3553 FOUNDERS ROAD | INDIANAPOLIS, IN
IN COLLEGE PARK NEAR THE ART INSTITUTE AND
THE PYRAMID OFFICE PARK
Opening Bid :: $1,750,000
:: INVESTMENT SUMMARY
CBRE Auction Services is pleased to present for auction an 88-unit, 220-bed, student housing facility with full kitchens, located in Northwest Indianapolis. The property opened in 1983 as a Residence Inn by Marriott and in 2010 was converted to a Gatehouse Suites extended-stay hotel. In 2012, the property was fully renovated to accommodate student housing and maximize the asset’s revenue production given the economic climate. The property is situated off Interstate-465 (“I-465”) on Founder’s Road, which is near Michigan Road leading to downtown Indianapolis.
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