Investment Overview

Marcus & Millichap is pleased to present the Sugar Hill Apartments, a 15-unit apartment community located in Crawfordsville, IN. Built in 1968, The Sugar Hill Apartments have undergone extensive renovation since November of 2021, including a complete renovation of all 15 units with, new gutters and downspouts, laundry room remodel, romex electrical wiring, pex plumbing, landscaping refresh, and conversion from a centralized gas boiler to all electric heating and cooling. Current ownership has improved nearly every aspect of the property, priming the asset for minimal maintenance in the years to come. The property presents an opportunity to organically increase revenue through leveling rent and other income already proven by current ownership, while still offering a high in-place return day one. The property is located on the west side of Crawfordsville, IN which is home to several employers, retailers, and the prominent Wabash College which ranked as the #3 top private university in Indiana, behind Notre Dame and Rose-Hulman (Niche.) Crawfordsville is located 49 miles northwest of Indianapolis and is a direct drive to Indianapolis via highway I-74. Given its proximity to a major highway and steady economic drivers, Crawfordsville has experienced steady population growth and wage growth in the last 12+ years. The northwest suburbs of Indianapolis MSA continues its urban expansion along highways I-65 & I-74 which puts Crawfordsville and neighboring towns in the path of progress.