Farmer Drive Apartments 9620 Farmer Dr 29 Unit Apartment Building $4,300,000 ($148,276/Unit) 5.97% Cap Rate Highland, IN 46322

Kiser Group is proud to present Farmer Drive Apartments, a 29-unit multifamily portfolio located in the desirable Highland, Indiana submarket of Northwest Indiana. Consisting of two adjacent low-rise buildings at 9616–9620 Farmer Drive, the property features 26 two-bedroom / one-bathroom and 3 one-bedroom / one-bathroom units across roughly 37,000 square feet of rentable area.
Originally built in 1964 to 1966 and well maintained with modern upgrades, Farmer Drive Apartments offers residents generous floor plans averaging 963 square feet, off-street parking, and on-site laundry in each building. Interiors include large living areas, vinyl-plank kitchens, and bright windows that bring natural light throughout.
Situated just off Indianapolis Boulevard and minutes from I-80/94, the property provides easy access to Chicago’s job base while benefiting from Indiana’s lower property taxes, pro-landlord laws, and growing renter demand. Residents enjoy access to the Erie Lackawanna Trail, Wicker Memorial Park, shopping centers, grocery stores, and Highland’s revitalized downtown corridor.
The offering provides investors the ability to acquire a stabilized, cash-flowing asset in one of Northwest Indiana’s most consistent submarkets, with clear upside through unit renovations and rent growth. Based on current occupancy of 95% and competitive area rents, Farmer Drive Apartments represents an attractive core-plus to value-add opportunity within the Chicago MSA.