Indian Land Apartments — Sale in Newberry, SC

  • Price: Contact for price
  • Listing type: For sale
  • Asset type: Multifamily Property
  • Location: Newberry, SC 29108

Photos

Indian Land Apartments — Sale in Newberry, SC, photo 1 of 6
Indian Land Apartments — Sale in Newberry, SC, photo 2 of 6
Indian Land Apartments — Sale in Newberry, SC, photo 3 of 6
Indian Land Apartments — Sale in Newberry, SC, photo 4 of 6
Indian Land Apartments — Sale in Newberry, SC, photo 5 of 6
Indian Land Apartments — Sale in Newberry, SC, photo 6 of 6

Investment Figures

Cap rate
6.80%

Derived from the asking price and operating figures published for this listing. Informational only — not an appraisal, valuation or financial advice. Verify independently before relying on any figure.

Description

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. 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.

Market Context

This multifamily in Newberry, SC is listed for sale. It is offered at an approximate 6.8% capitalization rate, a key benchmark for income-producing multifamily assets. Compare it against other multifamily listings for sale in Newberry, SC — view the full market.

Contact

Explore this market

Similar Multifamily Property for Sale in South Carolina