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Description

INVESTMENT RATIONALE Summit Realty Group has been retained as the exclusive investment advisor in the sale of Red Mill Apartments, a 164-unit community located in Indianapolis, Indiana. Red Mill is comprised of unique, low-density, walk-up buildings in a park-like setting. The property has the advantage of washer and dryer hookups in 80% of the units. Red Mill enjoys 93% occupancy and an 83% renewal rate. INVESTMENT HIGHLIGHTS THE OPPORTUNITY The acquisition of Red Mill presents the opportunity to purchase a stabilized REO asset at less than $17,000 per unit. VALUE ADD OPPORTUNITY The current occupancy at Red Mill is 93%, allowing for unit upgrades and rental increases. The property has a significant number of senior residents, and lends itself to being converted to a dedicated senior community. LOCATION Walmart recently constructed their new concept

Property Details

• Type: Multifamily
• Status: Available
• Buildings: 1

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