Historical Multifamily Sale Listing - Grande Reserve at Geist

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Grande Reserve at Geist

11345 Arborview Drive, Indianapolis, IN 46236

N/A

146 Units | Multifamily

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Multifamily Property - Off Market

Price:
N/A
No. Units:
146
Building Size:
160,539 SF
Property Type:
Multifamily
Property Sub-type:
Garden/Low-Rise
Property Use Type:
Investment
No. Stories:
2
Year Built:
1996
Listing ID
16710531
Last Updated
over 1 year ago

Highlights

  • Fully Equiped Fitness Center
  • Swimming Pool
  • Geist Reservoir (across the street) and the marina are just a short drive away
  • Clubhouse with Seperate Leasing Center

Description

CBRE is pleased to be appointed as the exclusive marketing advisor for the offering of The Grande Reserve at Geist, a 146-unit institutional-grade community located in the ultra-exclusive, water-oriented Geist Reservoir submarket. The Grande Reserve is the only rental community in Geist, and there are no additional sites for development of multifamily. The captive and refined nature of the Geist-area renter profile has demonstrated a willingness to pay for premium rental housing. Several of the units have been upgraded with granite and stainless steel to accommodate this resident preference. The acquisition of The Grande Reserve at Geist presents the opportunity to continue the upgrade program which has produced as much as $240 rent premiums.

As the only significant body of water in Indianapolis that allows power boating, Geist Reservoir is truly a destination. Due to the scarcity of single-family sites in the area, entry-level waterfront home pricing is generally $1 million. The Grande Reserve at Geist is located immediately across the street from Geist Reservoir, near some of the city' s finest housing. The property is two blocks from grocery-anchored neighborhood shopping and is ten minutes from the Castleton Square, the state' s largest mall.

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