221 E. Main Street, Carmel, IN 46032

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Building Details:

Summit Realty Group has been retained as the exclusive investment advisor in the sale of Park Lane Apartments and Townhomes, a 48-unit property exceptionally located in Carmel, Indiana.

The acquisition of Park Lane provides the exclusive opportunity to invest in the most prestigious submarket within the Indianapolis MSA. Rents at Park Lane are lower than several competing properties’ and the current occupancy is 98%, quantifying immediate value creation through rental increases.

Current ownership has invested more than $500,000 in capital expenditures since 2006. These improvements include the following:

New roofs & gutters
New fencing
New sign
Interior & exterior lights*
Asphalt seal & stripe
6-panel doors
New Windows*
HVAC*
Addition of 1/2 bath*

*some units