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..
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