Investment Overview

Marcus & Millichap is pleased to present the Tiberon Trails Apartments located in Merrillville, Indiana. This stable and well-maintained, 15-building, garden apartment complex contains 376 units consisting of 40 studio units (approximately 500 square feet), 90 one-bedroom / one-bathroom units (approximately 679 square feet), 150 two-bedroom / one-bathroom units (approximately 857-1,011 square feet), 72 two-bedroom / two-bathroom units (approximately 989 square feet), and 24 three-bedroom / two-bathroom units (approximately 1,181 square feet). On site, the property features 15 garage / storage units, with a potential to add an additional 30 to 50 garages / storage units on the north side of the property. Tiberon Trails also features a clubhouse, community room, pickleball courts and income-generating laundry facilities. Located in the central-eastern part of Lake County, Indiana, Merrillville is the most populated town in Indiana. The town is located at the intersection of U.S. Route 30 and Interstate 65 and is home to over 35,000 residents. The property sits just east of Harrison Street, with Interstate 65 running approximately two miles east and Interstate 80 approximately five miles to the north. Though the subject property has a Merrillville address, the property is located in unicorporated Lake county. The property is located within the Lake Ridge Schools Corporation (4650), and residents attend Longfellow New Tech Elementary, Lake Ridge New Tech Middle School and Calumet New Tech High School. In addition, this location is part of the Chicago Metropolitan area, in which many residents commute to Chicago for work, entertainment and opportunity. This opportunity allows an investor to acquire a stable and well-maintained apartment complex with strong cash flow.