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  • Writer's pictureChad Schieler

Atlas Apartments

67 Units, Market Rate, Richmond Indiana

 


Property Overview


Built in 1910 and renovated in 2000, Atlas Apartments is a 67-unit apartment building in Richmond, Indiana. The building is controlled access, four-stories, brick, and has a lower level. Each floor has a laundry room with card laundry machines.


 

Strategy


Initially, we installed professional on-site management to enhance operational efficiencies. Subsequently, we implemented a streamlined approach to resident utility billings. Completing upgrades such as flooring and paint in the remaining units was a priority, along with introducing new decor to enhance the entryway interior. All ancillary income has been brought up to the current market rates of the local market.


 

Highlights


  • 12 foot ceilings with oversized windows

  • Location! Property located next to the cultural trail, walkable businesses and eateries. Easy access to the main highway.

  • Open courtyard with resident patio

  • Top employers in the area Reid Health, Belden, Sugar Creek and Richmond State Hospital


 

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