9050 800 S Pendleton, IN 46064

Summerlake Meadows Apartments is a 48-unit multifamily community located in Pendleton, Indiana. Constructed in 2018, the property features 1,240-square-foot two-bedroom floor plans, each equipped with private patios and one-car-attached garages. The property is currently operating at 98 percent occupancy. Situated on nearly five acres, Summerlake Meadows offers a low-density, neighborhood-style living environment. Summerlake Meadows benefits from a location just off Interstate 69, providing residents with direct access to the eastern Hamilton County corridor. The property is located seven minutes from Hamilton Town Center in Fishers, offering a range of retail, dining, and entertainment options. The location benefits from the continued population growth and economic expansion occurring throughout the northeastern Indianapolis suburbs. With effective in-place rents averaging $1,416 per month at Summerlake Meadows, there is upside in rental rates based on comparable properties. The average two-bedroom rents in the immediate or adjacent markets is $1,739 per month, making the average rent gap between the property and comparable properties $323 per month. The 1,240 square foot floor plans average 188 square feet larger than the average two-bedroom comparable properties.