Investment Overview

Marcus & Millichap is pleased to present the exclusive offering of Sycamore Ridge and Brookstone Flats, a two-property multifamily portfolio totaling 198 units in Anderson, Indiana. Delivered 100% vacant at closing, the portfolio offers a true clean-slate opportunity. Allowing a new owner to control renovation scope, lease-up pace, and operating standards from day one, without the friction of legacy tenants or in-place operations. Offered at an attractive basis of under $40,000 per unit, the assets provide a compelling entry point into the Anderson market with meaningful upside through renovation, repositioning, and strategic lease-up. Investors have the ability to modernize interiors, refresh branding, and introduce targeted amenity enhancements to drive rent growth and stabilize performance. Recent multifamily sales across Indiana support a strong long-term value case for renovated vintage product, with approximately 26,000 units sold statewide over the past two years at an average of $91,800 per unit, including 14,500 units sold within the Indianapolis MSA at an average of $110,000 per unit—demonstrating liquidity and exit pricing for assets constructed prior to 1990. BROOKSTONE FLATS is located on Anderson’s north side and consists of 89 units: (7) one-bedrooms, (77) two-bedrooms, and (4) three-bedrooms. Built in 1964, the property is positioned near established residential neighborhoods with proximity to major demand drivers including Anderson Community Hospital and Anderson Country Club, supporting a strong foundation for future repositioning. SYCAMORE RIDGE Sycamore Ridge is situated on the west side of Anderson and includes 109 units: (39) onebedrooms, (52) two-bedrooms, and (18) three-bedrooms. Also constructed in 1964, the property features generous green space that can support new amenities such as a dog park, playground, sport court, or outdoor gathering areas. Nearly all windows have been replaced in recent years, providing a meaningful start on future redevelopment efforts and reducing near-term capital exposure.providing a head start on future redevelopment efforts.