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Caldera on Cleveland Luxury Townhomes & Flats 80 Unit Apartment Building For Sale Granger, IN 46530
INVESTMENT HIGHLIGHTS
- Joint Venture Equity Investment Opportunity $3,000,000 to $5,000,000
- The project is an 80 unit luxury rental townhome and flat development with five different floor plans, garages and high end finishes.
- CRMH is the development company and owns ±6 acres on Cleveland Rd. in Granger in a prime location for a development like Caldera on Cleveland.
- Stabilized Sale Value $43,388,268
- The project is in the growing and affluent Granger area, and is located in Penn-Harris Madison School District.
- Third party market study supports demand for the project's development plan.
EXECUTIVE SUMMARY
The Cleveland Road community will consist of 80 luxury townhome/flat-over-flat rental units configured within a park-like setting in a series of 3-, 6- and 7-unit buildings surrounding two central courtyards. A total of five different plan styles will be represented ranging from 1,300 square foot second-floor flat to a 2,322 two-story townhome/rowhome. Each residence will include a high level of standard features/finished including items such as granite or quartz kitchen countertops; stainless steel appliances; functional laundry rooms; in-unit washers/dryers; luxury plank flooring in living areas; upgraded cabinets, fixtures, and lighting; private patios/decks and smart-home technology. In addition, most units will include a standard two-car garage, while others will have the option of either surface parking or an attached two-car garage. Relative to surface parking, between 60 and 65 spaces will be provided on site.
PROPERTY FACTS Under Contract
| Sale Type | Investment | Lot Size | 6.40 AC |
| No. Units | 80 | Construction Status | Proposed |
| Property Type | Multifamily | Building Size | 180,695 SF |
| Property Subtype | Apartment | No. Stories | 3 |
| Apartment Style | Townhome | Year Built | 2027 |
| Building Class | B | Parking Ratio | 0.36/1,000 SF |
| Zoning | C - Multi-family | ||
| Sale Type | Investment |
| No. Units | 80 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Townhome |
| Building Class | B |
| Lot Size | 6.40 AC |
| Construction Status | Proposed |
| Building Size | 180,695 SF |
| No. Stories | 3 |
| Year Built | 2027 |
| Parking Ratio | 0.36/1,000 SF |
| Zoning | C - Multi-family |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Dishwasher
- Disposal
- High Speed Internet Access
- Refrigerator
- Stainless Steel Appliances
- Range
- Double Pane Windows
SITE AMENITIES
- Business Center
- Clubhouse
- Fitness Center
- Pool
- Car Charging Station
- Conference Rooms
- Maintenance on site
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 2+2 | 80 | - | - |
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PROPERTY TAXES
| Parcel Number | 71-04-27-200-074.000-036 | Improvements Assessment | $0 |
| Land Assessment | $131,700 | Total Assessment | $131,700 |
PROPERTY TAXES
Parcel Number
71-04-27-200-074.000-036
Land Assessment
$131,700
Improvements Assessment
$0
Total Assessment
$131,700
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Caldera on Cleveland Luxury Townhomes & Flats
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