9620 Farmer Dr - Apartments FOR SALE


Highland, IN 46322
$4,300,000 USD
219-246-9026
9620 Farmer Dr, Highland, IN for Sale
$4,300,000 USD
Apartments - FOR SALE
1/30
null | 5.97% Cap Rate

9620 Farmer Dr
Highland, IN 46322


HIGHLIGHTS

  • 29 Apartments Including 26 Two-bedroom & 3 One-bedroom Units
  • 30 Minutes to Chicago via I-80/94 and U.S. 41
  • Strong Highland Rental Demand
  • Steps from Erie Lackawanna Trail, restaurants, retail, and parks
  • Indiana Tax Advantages and Landlord-Favorable Laws
  • Immediate Rent Growth and Renovation Upside

OVERVIEW

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.

FOR SALE DETAILS

PRICE

$4,300,000 USD

PRICE/SF

$154 USD /SF

# OF UNITS

29

PRICE/UNIT

$148,276

CAP RATE

5.97%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Farmer Drive Apartments

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Hi-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1966

PARKING SPACES

26

LAND DETAILS

LAND ACRES

1.26 AC

LAND SF

54,886 SF

ZONING

4-19 Family Apartments

APN/PARCEL ID

45-07-27-376-001.000-026

ASK ABOUT THIS PROPERTY

Kyle SissellKiser GroupMore Info
219-246-9026

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Kyle SissellKiser GroupMore Info
219-246-9026

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.