Marcus & Millichap Brokers $11.7M Sale of Multifamily Property in Indianapolis
INDIANAPOLIS — Marcus & Millichap has brokered the sale of Tuscan Pointe Apartments, located at 1451 E. Southport Road in Indianapolis. The purchase price was $11.7 million, or $35,671 per unit. Built in 1971, Tuscan Pointe Apartments is a 328-unit complex that features a mix of one-, two- and three-bedroom units. The apartments include screened-in balconies and private patios, wall-to-wall carpeting and individual climate control. Select units have vaulted ceilings. Community amenities include a swimming pool with a large sundeck, fitness center, clubhouse and party room. James Walsh of Marcus & Millichap’s Chicago office represented the buyer, a California-based investment fund, and the seller, a Chicago-based family partnership.