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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