401 N 10th St Richmond, IN 47374

Atlas Apartments, a 67-unit apartment community, is located in Richmond, Indiana. Originally constructed in 1910, the property was fully renovated in 2000. The apartments stand out from other properties in the market due to their unique floor plans, 12-foot ceiling loft-style units, and modern finishes with classic charm. Tenant accommodations include on-site laundry facilities, a courtyard, a study lounge, and controlled building access. The property has undergone significant upgrades, including Pex and PVC plumbing, a new TPO rubber membrane roof in 2023, electrical wiring upgraded to copper, and double pane Low-E vinyl frame windows. The property benefits from immediate access to Hwy I-70, providing a commute of less than 1 hour to Indianapolis and Dayton, Ohio. Wayne County’s regional connectivity makes it a hub for logistics, manufacturing, and cross-state workforce migration. The Reid Healthcare system is the dominant employer in the region, employing nearly 3,000 residents, while other major employers are primarily in the manufacturing business. Market vacancy is at 4.4 percent and year-over-year Q1 2026 market rent growth at 4.2 percent. Forecasted year-over-year rent growth for Q2 2026 is projected at 4.8 percent.