5.30.2014

Multifamily Investment Opportunity: Fort Wayne Apartment Portfolio

Here is a new opportunity to invest in the Fort Wayne, Indiana multifamily market. For more information or to download a full offering memorandum visit our website HERE.


The Fort Wayne Portfolio represents the opportunity to acquire three properties totaling 194 units. The three properties may be purchased individually or as a portfolio. The properties offer diversity in both location and product type. A diverse unit mix, including senior apartments, studios and town homes, allows for appeal to a wide range of potential residents. While the properties vary in terms of location and unit types, they have all maintained stable 90% +/- occupancy levels for many years. The portfolio asking price of $6,055,000 is an 8.7% cap rate on 2013 actual financials. Each of the three properties offers various areas of potential upside through either utility bill back to residents or property upgrades to achieve rent increases.

                        Offering Price    Units    Year Built
Foster Park        $2,480,000           70          1972
Hickory Mill        $1,600,000           70          1981
Stratford Place   $1,975,000          54          1962-1967

0 comments:

Post a Comment