Marcus & Millichap brokered the sale of a 49-unit multifamily property in Muncie, Indiana, for $3.7 million.
Aaron Kuroiwa and Austin Meeker, investment specialists in Marcus & Millichap’s Indianapolis office, had the exclusive listing to market the property on behalf of the seller, Streeter25, LLC, and procured the buyer, Deed Holdings – 5050, LLC.
The portfolio consists of Randy’s Court, located at 222 W. Centennial Ave., and Streeter Court Apartments, located at 111 E. Streeter Ave. The two garden-style communities are a half-mile apart in Muncie’s north of the river submarket. Built in 1994, Streeter Court consists of 25 apartments with a mix of one-, two- and three-bedroom units. Randy’s Court was built in 1978 and includes 24 two-bedroom, one-and-a-half-bath townhomes.
