Address: 2 acres 24 units
City: Fort Wayne
Square Feet: 1000/ unit +/-
Bedrooms: 24 1-2 bed
Bathrooms: 1 bath
Bargain Deal Fort Wayne Investment Apartment Complex For Sale
Buy for less than $2000 per unit, rehab and cashflow $16,000 a month after rehab. The property consists of 1.9 acres, wood frame and brick 24 unit complex with separate utilities and parking spaces. The two-story wood frame apartment building has wood trusses , joist floor structure and plywood floor deck on poured concrete.
The exterior wall structure is wood frame with brick veneer vinyl siding and stucco.
The backside borders 23 acres owned by city of Fort Wayne and by 20 acres owned by church. Across street are nice high occupancy apartments renting for $500 – $800/mo. and owner occupied single family houses in the $100k range. In the buildings next door the tenants are responsible for their heat with electric or gas forced air, phone and cable TV and rents for $600 – $800 a month.
The interior units are very rough and need to be remodeled: drywall/paint, flooring, cabs, windows, patio doors, …. The units have aluminum frame windows- many that need replaced. Possible rehabilitation grant and/or funding from the city of Fort Wayne.
A new survey is complete and available for viewing now. It was done in January 2015 and recorded in May. It explains the break off of this property from Twin Oaks Apartment complex and the new address. The Survey shows about 75′ x 175′ on the South side of property for:
» additional parking
» paid storage units
» laundry building…
East of US 27 between South Anthony Blvd. and Hessen Castle Rd. located on east side of Paulding Road, this Fort Wayne Investment Apartment Complex is approximately 12 minutes from downtown which offers many cultural events and a great variety of restaurants. The property is on the City Link Bus line, so transportation is never a problem. We are very close to Fort Wayne International Airport, and the newest shopping center Menards, Super Wal-Mart and much more.
Huge potential on this distressed Fort Wayne Apartment Complex. Call for tour and financing options (260) 436-5000 extension 221