Marcus & Millichap brokered the sale of Park Forest Apartments, a 64-unit multifamily property in Marion, Indiana, for $4.85 million.
Quentin Benedetto, Kyle Stengle and Jack Stanton, investment specialists in Marcus & Millichap’s Chicago Downtown office, in association with Josh Caruana, Marcus & Millichap’s broker of record in Indiana, had the exclusive listing to market the property on behalf of the seller, Pentagon Investment Group. Benedetto and Stanton procured the buyer, Ross McCarthur, Co-Founder of Follow The Deal Investments.
Located at 1005 N. Park Forest Drive, Park Forest Apartments comprises seven buildings with 64 two-bedroom, one-bathroom units. Each 900-square-foot apartment has undergone significant recent renovations, including new balconies, windows, HVAC systems and water heaters. The property is situated on 4.44 acres in Marion’s central corridor with access to major highways and key employers such as General Motors, the Marion VA Medical Center and the Walmart Distribution Center.
