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Indian Land & Baker Street Apartments 2 Multifamily Properties Offered at $5,100,000 in Multiple Locations
Investment Highlights
- 73-Unit Portfolio Scale: Two-property portfolio offering immediate scale efficiency and operating leverage across a single transaction.
- Recent Roof Replacements: New roofs installed across both properties in 2021, materially reducing near-term exterior capital exposure.
- I-26 Corridor Location: Strategically positioned in Newberry County between Columbia and Greenville, two of South Carolina’s strongest growth markets.
- Light Value-Add Opportunity: Stabilized assets with room for incremental rent growth through cosmetic upgrades and operational improvements.
- Family-Friendly Unit Mix: Mix of two-bedroom and three-bedroom units, well-aligned with workforce family renter demand.
- Manufacturing Employment Base: Anchored by Newberry County employers including Samsung, Komatsu, Kraft, Kiswire, and Georgia Pacific.
Executive Summary
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.
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.
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- Offering Memorandum
Property Facts
| Price | $5,100,000 | Number of Properties | 2 |
| Price / SF | $81.73 / SF | Individually For Sale | 0 |
| Cap Rate | 7% | Total Building Size | 62,400 SF |
| Sale Type | Investment | Total Land Area | 7.94 AC |
| Status | Active |
| Price | $5,100,000 |
| Price / SF | $81.73 / SF |
| Cap Rate | 7% |
| Sale Type | Investment |
| Status | Active |
| Number of Properties | 2 |
| Individually For Sale | 0 |
| Total Building Size | 62,400 SF |
| Total Land Area | 7.94 AC |
Properties
| Property Name / Address | Property Type | Size | Year Built | Individual Price |
|---|---|---|---|---|
|
Indian Land Apartments
1728 Indian Land Dr, Newberry, SC 29108 |
Multifamily | 42,400 SF | 1974 | - |
| 97 Subertown Rd, Whitmire, SC 29178 | Multifamily | 20,000 SF | 1970 | - |
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Indian Land & Baker Street Apartments
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