The Luxe at Indian Lake Village, Hendersonville’s newest multifamily asset, features urban style buildings with interior corridors and key-card access for added security and is the city’s only apartment community with elevator service
Premier Amenities Package
Tenants have access to a premier amenities package, including resort-style saltwater pool, tanning deck, spacious clubhouse, shuffleboard, courtyard grill station, fitness center with free weights, dog park, pet spa, elegant outdoor space, business center, and more
New ownership will have the opportunity to add value to the property by upgrading the dog park, converting the yoga room into a more popular fitness amenity such as a Fitness On Demand room, adding covered parking, or creating a common area work-from-home space.
Limited Supply & Growing Demand
The Luxe’s 94 Units are the last of 600 Rental Units allowed in the 450-Acre Master Plan for Indian Lake Village. The development has entitlements for 2.5 million SF of Class A office space, 1.5 million SF of retail space, hotels, and a conference center, much of which is still to be developed. Hendersonville’s population is expected to grow 45% by 2035.
High Barrier to Entry
The mayor of Hendersonville has long been opposed to new multifamily development in the city. The city of Hendersonville does not have any new multifamily projects under construction or in the pipeline leaving The Luxe to be the premier Hendersonville apartment for the foreseeable future.
Positive Rent Momentum
The Sumner County submarket has seen record rent growth this year of 15.4% YTD, which is expected to remain high for the foreseeable future, according to CoStar research. 2022 rent growth is expected to be 8.0%.
High Income Earning Tenant Base
The average household income at The Luxe is $250,199 with almost 97% of all tenants employed, leaving ownership in a favorable position for continued rent collection with a high quality tenant base