INDIANAPOLIS — Forza Commercial Real Estate has announced its purchase of two multi-family properties in Crawfordsville.
The Indianapolis company has purchased Waterford (phase III and IV) at 2001 Zelmar Drive, which includes 48 units on approximately five acres of land on the city’s east side.
The remaining Waterford buildings (phase I and II) are not included in the transaction and have not changed ownership.
Montgomery County’s Comprehensive Plan for economic development improvements in combination with Crawfordsville’s low cost of living (averaging nearly 25% lower than the national average) made Waterford an ideal development location for the Forza team.
“We are excited to become a part of the Crawfordsville community,” said Jordan Bass, Forza president. “The team looks forward to this acquisition as it opens the door to more opportunities for Forza to invest in and revitalize aging multi-family residences.”
According to local property tax records, the recently acquired apartment buildings were constructed in 1982 and 1984.
Known for its mission to “improve lives through quality and affordable living,” Forza will provide residents who qualify for low-income housing assistance with the educational tools and resources to preserve their existing financial support.
Forza intends to make interior and exterior aesthetic, functional and safety renovations to its newly acquired property, including new sidewalks, repaved parking lots, vinyl plank flooring and modern appliance upgrades. Renovations are anticipated to be completed by the end of July 2024.
This is the company’s second property acquisition of the year. In mid-April the company announced its acquisition of a property in Tipton, which renovations are expected to be completed by the end of June. Forza also owns the Waynetown Apartments in 3700 block of State Road 25, Waynetown.
To learn more, visit the company’s website at www.ForzaCRE.com or find them on Facebook and LinkedIn.
