Investment Overview

Marcus & Millichap is pleased to exclusively present the KDC Apartment Portfolio in the towns of Hartford City, Spiceland, Knightstown, and Rushville, IN. The portfolio consists of od 76 apartment units, and 3 commercial retail units. The KDC Portfolio was constructed between 2017 – 2021 and offers high quality housing to tenants in supply constrained markets. At an average of $904/mo across the portfolio, we estimate significant rental upside in the compared to other new construction complexes in tertiary markets. We estimate rents are under market by approximately 20.6%. In addition to the sale of 79 units, there is an opportunity to develop 48 additional apartment units at the existing Rushville Villas complex. $1.8m of economic incentives and grants have been approved from the READI 2.0 fund ($1.5m) and the City of Rushville ($300k) to construct the additional 48 units, significantly decreasing development costs. The Rushville Villas are located approximately one mile from the new $300 million, 700,000 square foot, Diamond Pet Foods manufacturing facility, which opened at the end of 2024. This facility brought approximately 170 new jobs to Rushville. The KDC Apartment Portfolio will be offered at a significant discount to new construction on a price per unit, and price per square foot basis. At approximately $90/square foot, the KDC Portfolio is offered at a massive 50% discount to new apartment construction.