Bad on the inside.
They'll give you new carpet, but it's as cheap as you can possibly get-harsh, thin,...
The windows are super thin and single-pane (i.e., your air conditioner/heater will work overtime and it'll either be abnormally colder or hotter depending on how many windows you have and the season you're in). If you complain, they'll tell you, "well we're an older apartment complex."
The water smells like fish. (Reason they'll tell you: "it's because we're close to the lake").
It's loud, depending on your neighbors. You can hear every single footstep if you're downstairs, and you can hear others' loud stereos. Both are quite annoying.
The water bill, they'll tell you, "averages about $20 a month." (Actually, it's been MORE than the electric bill the whole time I've been there: average of $58). Plus, they allocate the water according to the number of residents in the apartment, in the building, or something like that (i.e., you're paying for all others' water usage).
There are leaf blowers at about 9am on certain days. They usually last for about an hour or longer. Very annoying if you're a student who needs to catch up on sleep during weekends or the day without classes.
You're paying for being closer to the highway, not for better quality apartments. That they're "older apartments" and "close to the lake" are no excuses for the low quality of the apartments, I don't think.
The management are very nice people, though.

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