Multifamily
Indian Land Apartments
1728 Indian Land Dr, Newberry, SC 29108
Listing Price: $3,640,000
Investment Overview
Marcus & Millichap is pleased to present Indian Land Apartments, a 53-unit multifamily community located in Newberry, South Carolina. Originally built in 1974, the property is situated on 4.73 acres and comprises a mix of two-bedroom and three-bedroom floorplans.
The property benefits from recent capital investment with a new roof installed across the community in 2021, materially reducing near-term exterior capital exposure for a new owner. The property presents a light value-add opportunity, with room for incremental rent growth through cosmetic interior upgrades and improved operational efficiencies.
Newberry is centrally positioned in South Carolina’s Midlands region along the I-26 corridor between Columbia and Greenville, with a labor force of over 500,000 within a 60-minute drive. The local economy is diversified across advanced manufacturing, healthcare, and education, with major employers including Samsung Electronics Home Appliances ($380M plant), Kraft Heinz, Kiswire, West Fraser, Newberry College, and Newberry County Memorial Hospital.
Indian Land Apartments
Investment Highlights
- 2021 New Roof: New roof installed across the community in 2021, materially reducing near-term exterior capital exposure for a new owner.
- Light Value-Add Runway: Opportunity to capture incremental rent growth through cosmetic interior upgrades and improved operational efficiencies.
- 2BR + 3BR Unit Mix: Mix of two-bedroom and three-bedroom floorplans supporting a broad tenant base.
- Established Newberry Location: Positioned in Newberry, home to Newberry College and a diversified Midlands manufacturing base.
- Newberry County Employment Base: Anchored by Samsung Electronics, Kraft Heinz, Kiswire, West Fraser, Newberry College, and Newberry County Memorial Hospital.
- I-26 Corridor Location: Located between Columbia and Greenville along I-26 with 500,000+ workers within a 60-minute drive.
Listing Price: $3,640,000
Investment Highlights
- 2021 New Roof: New roof installed across the community in 2021, materially reducing near-term exterior capital exposure for a new owner.
- Light Value-Add Runway: Opportunity to capture incremental rent growth through cosmetic interior upgrades and improved operational efficiencies.
- 2BR + 3BR Unit Mix: Mix of two-bedroom and three-bedroom floorplans supporting a broad tenant base.
- Established Newberry Location: Positioned in Newberry, home to Newberry College and a diversified Midlands manufacturing base.
- Newberry County Employment Base: Anchored by Samsung Electronics, Kraft Heinz, Kiswire, West Fraser, Newberry College, and Newberry County Memorial Hospital.
- I-26 Corridor Location: Located between Columbia and Greenville along I-26 with 500,000+ workers within a 60-minute drive.
Investment Overview
Marcus & Millichap is pleased to present Indian Land Apartments, a 53-unit multifamily community located in Newberry, South Carolina. Originally built in 1974, the property is situated on 4.73 acres and comprises a mix of two-bedroom and three-bedroom floorplans. The property benefits from recent capital investment with a new roof installed across the community in 2021, materially reducing near-term exterior capital exposure for a new owner. The property presents a light value-add opportunity, with room for incremental rent growth through cosmetic interior upgrades and improved operational efficiencies. Newberry is centrally positioned in South Carolina’s Midlands region along the I-26 corridor between Columbia and Greenville, with a labor force of over 500,000 within a 60-minute drive. The local economy is diversified across advanced manufacturing, healthcare, and education, with major employers including Samsung Electronics Home Appliances ($380M plant), Kraft Heinz, Kiswire, West Fraser, Newberry College, and Newberry County Memorial Hospital.
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