Investment Overview

Marcus & Millichap is pleased to present Briggs Flats, a 22-unit multifamily property located in the highly sought-after Fletcher Place neighborhood of Downtown Indianapolis. The asset consists of two buildings constructed in 1920, offering a diverse unit mix of one-, two-, and three-bedroom apartments with an average unit size of approximately 711 square feet. Briggs Flats benefits from its urban infill location just steps from the Central Business District, Lucas Oil Stadium, the Indiana Convention Center, and the Wholesale District—placing residents within walking distance of the city’s largest employment, entertainment, and lifestyle anchors. The property’s proximity to downtown Indianapolis supports consistent renter demand driven by healthcare, logistics, professional services, and institutional employment. The offer presents investors with a clear value-add opportunity through the capture of significant in-place to market rent spreads. Current average rents trail market by approximately $400+ per unit, with comparable properties in the Fletcher Place submarket achieving materially higher rent levels. Through continued operational stabilization and interior improvements, ownership can drive NOI growth while maintaining exposure to one of the Midwest’s fastestgrowing and most landlord-friendly metropolitan areas.