3645 Wingate Ct
Indianapolis, IN 46235
Spanish Oaks · Multifamily Property For Sale · 824 Units

Spanish Oaks Apartment Homes is an 824 unit garden apartment community located on the far east side of Indianapolis at 3645 Wingate Court Indianapolis, Indiana 46235. This is the perfect Section 42 Low Income Tax Credit Opportunity because the current owner has owned the property for over 10 years. This creates the Possibility of obtaining BOTH ACQUISITION AND RENOVATION TAX CREDITS. The property includes 65 Two Story apartment buildings. The gross square footage is 636,252 including 48 Studios (510 SF), 276 One Bedroom One Bath (620 SF), 336 Two Bedroom One Bath (814 SF), 112 Three Bedroom Two Bath (1019 SF) and 52 Two Bedroom One and ½ Bath Townhouse (950 SF) units. The property is located on a ~ 51 acre site with two-story Garden Apartment Homes constructed of wood frame with brick veneer and various types of exterior siding. The apartment buildings have both pitched and flat roofs. Some of the apartments have a washer/dryer hook-ups and several of the units have washers and dryers. All units have tenant paid HVAC with gas fired Heat and electric Air Conditioning. The property offers substantial upside for a buyer who updates the prior renovation and leases up the vacant units with professional property management.