Investment Overview

Marcus & Millichap is pleased to prevent the Lofts on 40 Apartments in Plainfield, Indiana. Lofts on 40 has an attractive unit mix of one studio, eight one-bedroom, 10 two-bedroom, and two three-bedroom units. Lofts on 40 rents are approximately 10 percent under market to comparable apartments in the area. There is an attractive 4.76 percent assumable loan that could be transferred to a new owner upon a sale. Over the last 24 months the owners have replaced the roof, added additional sidewalks, updated common areas and landscaping and renovated the interior of all the units. Over $300,000 of capital improvements have been put into the property over the last 24 months. Lofts on 40 is centrally located in the heart of Plainfield and is half a mile away from Indianapolis International Airport and Plainfield Business Park. Plainfield is one of Indianapolis’s fastest growing suburbs supporting a population growth of just under 2 percent annually.