Investment Overview

Marcus & Millichap is pleased to present the Park Forest Apartments, an outstanding investment opportunity comprised of seven buildings and 64 apartments in Marion, Indiana. With a strategic location in Grant County, Marion offers a diverse mix of commercial and residential investment potential. With significant recent capital investments, well-maintained infrastructure, and operational efficiencies already in place, Park Forest Apartments presents an exceptional turnkey investment opportunity with additional upside potential for the next owner. Originally built in 1963, Park Forest Apartments consists of 64 spacious two-bedroom, one-bathroom units, each spanning 900 square feet. The property has undergone significant capital improvements, ensuring long-term structural integrity and operational efficiency while offering future investors value-add potential. Recent renovations include but are not limited to upgraded rear porches, new balconies, new windows, new individual HVAC units, new hot water tanks and an array of cosmetic improvements. Marion’s real estate market has experienced significant appreciation, with average market rent growth experiencing a 3.6 percent average increase in the past five years and a 4.8 percent increase in the past 12 months. The city’s average occupancy sits at a healthy 95.55 percent over the past five years and an average 95.32 percent over the past 12 months. Marion benefits from its central location in Indiana, offering direct access to major highways including I-69 and US-35, providing seamless connectivity to Indianapolis, Fort Wayne, and surrounding metros. This accessibility makes Marion a key logistics and transportation hub, further fueling business growth. Marion, the largest city in Grant County, serves as a key economic hub with major employers driving the local job market. The city is home to the General Motors (GM) Metal Stamping Plant, employing 750 workers, and the Marion VA Medical Center, one of the region’s largest employers with 1,887 staff members. Just a short distance away in Gas City, the Walmart Distribution Center further strengthens the local economy, providing 1,000+ jobs and serving as a critical logistics hub for the region. Marion is home to a young and growing population, with a median age of 34.8 years, offering a stable and expanding workforce. The city features a vibrant downtown district, affordable living options, and a supportive economic development environment, making it an attractive location for businesses and residents alike.