Investment Overview

Marcus & Millichap is pleased to present Indian Land & Baker Street Apartments, a two-property, 73-unit offering located along the I-26 corridor in Upstate South Carolina. The portfolio consists of Indian Land Apartments, a 53-unit community built in 1974 in Newberry, and Baker Street Apartments, a 20-unit community built in 1977 in Whitmire. Both properties feature a mix of two-bedroom and three-bedroom floorplans, well-positioned to serve the area’s family workforce renter base. New roofs were installed across both communities in 2021, materially reducing near-term exterior capital exposure for a new owner. The combined offering presents a light value-add opportunity, with room for incremental rent growth through cosmetic interior upgrades and improved operational efficiencies. Newberry County sits along Interstate 26 between the major metropolitan areas of Columbia and Greenville, with a labor force of more than 500,000 within a 60-minute drive. The local economy is anchored by a deep manufacturing base including Samsung, Komatsu, Kraft, Kiswire, Georgia Pacific, Shakespeare, and Renfro, supplemented by Newberry College, Piedmont Technical College, and a stable healthcare and retail employment sector. The county’s positioning between two of South Carolina’s strongest growth markets continues to support steady workforce housing demand across both Newberry and Whitmire.