147 Diplomat Ct
Beech Grove, IN 46107
Beech Meadow · Multifamily Property For Sale · 272 Units

Beech Meadow is a 272-unit garden apartment community located in Beech Grove, on Indianapolis’ southeast side. The community was constructed in 1970 and consists of eight two-story and eight three-story residential buildings and a clubhouse/office. The property sits on approximately 15 acres with mature trees and plentiful green space. Building exteriors are attractive, mostly brick accented with decorative board and batten aluminum siding panels under some windows. The community offers an attractive unit mix with 72 one bedroom units (11 with dens), 172 two bedroom / one and one-half bath units (23 with dens); and 28 three bedroom / two bath units (4 with dens). Unit amenities vary by floor plan and include spacious living area and storage, private patios or balconies, walk-in closets and central air conditioning. All two and three bedroom units have dishwashers. Twenty-five units have been recently upgraded and include custom oak cabinetry, new, granite-look laminate countertops, new flooring, light fixtures, plumbing fixtures and black appliances. These recently upgraded units are leased at $65 to $75 per month premiums over the classic units. Community amenities include the recently remodeled clubhouse with community room and 24-hour fitness center; an oversized swimming pool with sundeck; picnic area with grills; and playground. Laundry facilities are offered in each hall. The community has very stable occupancy, averaging between and 90% and 95% for the last five years.