13816 Illinois Road
- Completed in June of 2022, this is a premier 42-unit townhome community .
- Located in the coveted SW sector of Fort Wayne, this community is 100% occupied on a wait list.
- Developed by a notable and largest home builder in the market, Granite Ridge Builders.
- Nestled in a quiet neighborhood with direct access to I-69, shopping, medical offices, golf courses, and more.
- Unit mix includes: 2 bed/1 bath single-level, 2 bed/2.5 bath 2-level, and 3 bed/2.5 bath 2-level townhomes.
- These luxury units include granite counter tops, stainless steel GE appliances, washer/dryers, Masonite painted doors, atrium vinyl windows, floating plank flooring, and single car garage.
- Long term investment hold with gradual rent increase potential.
Property Description
This is an exceptional acquisition opportunity for a Class A, 42-unit, multifamily townhome community strategically located within the rapidly expanding southwest corridor of Fort Wayne, Indiana. Constructed in June 2022 by the area's largest and most reputable builder, Granite Ridge Builders, occupancy is 100%, underscoring its immediate appeal and market proven success. The asset's strategic location provides residents with excellent access to I-69, major retail corridors, medical offices, esteemed golf courses, and educational facilities. Positioned as a long-term investment hold, the property offers demonstrated potential for continuous gradual rent growth in a desirable submarket. The unit mix includes 2-bedroom/1-bath (862 SF at $1,420/month), 2-bedroom/2.5 bath (1,073 SF at $1,620/month), and 3-bedroom/2.5 bath (1,414 SF at $1,845/month) floorplans. All units boast high-end contemporary finishes, including granite countertops, new GE stainless steel appliances, in-unit washers and dryers, and vinyl plank flooring. Furthermore, each unit includes a dedicated one-car garage (approximately 12' x 24'). This is a stabilized, institutional-quality asset ideal for an investor seeking a secure, high-performing addition to any million multifamily portfolio.
Key Property Information
| Listing Status: | Unavailable |
|---|---|
| Listing Type: | Call for offers |
| Property Types: | Apartment Buildings |
| Price: | $9,240,000 |
| No. of Units: | 42 |
| Average Occupancy: | 6.05 |
| Year Built: | 2022 |
| Lot Size: | 7.08 Acres |
| Opportunity Zone: | No |
| Price per unit: | $220,000 |
| Property Website | Click Here |
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