Suncrest

Posted: 3/31/2021
140 Units
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About

About Suncrest

1 FREE & CLEAR – 5% TRAILING 12 CAP

Suncrest can be purchased free and clear for a 5% cap rate on T-12. In 2020, rental revenue grew by more than 8% at Suncrest and the property maintained 95%+ occupancy. For many years the property has maintained both high occupancy and collections and provides reliable cash flow day one.

2 FULLY RENOVATED PROPERTY

While originally constructed in 1986, Suncrest was fully renovated in 2015/16. The property’s unit finishes rival those of new construction properties but yet offer at a lower overall rental rate..

3 FURTHER RENT GROWTH VIA VALUE ADD

$50 rent bumps are achievable via washer/ dryer hookups in the 32 remaining units (no laundry contract in place) and creating additional property amenities.

4 LESS THAN 7 MILES FROM DOWNTOWN

Suncrest residents can be downtown Indy in a quick 15 minute or less drive. Employment and entertainment options are plentiful downtown and are very easy to access from the property..

5 WEST SIDE EMPLOYER & AMENITY CONNECTIVITY

The convenient location on Washington Street, a major Indianapolis east-west thoroughfare, offers residents a short drive to Indy’s largest job centers and amenities on the west side..