Ledgestone Townhomes 13816 Illinois Rd 42 Unit Apartment Building $9,240,000 ($220,000/Unit) 6% Cap Rate Fort Wayne, IN 46814

Exceptional acquisition opportunity for a newly constructed, 42-unit Class A multifamily townhome apartment complex strategically located within the rapidly expanding southwest corridor of Fort Wayne, Indiana. Delivered in June 2022 by the market's largest and most reputable builder, Granite Ridge Builders, the property is currently performing at 100% occupancy, 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 $\$1,295$/month), 2-bedroom/2.5 bath (1,073 SF at $\$1,495$/month), and 3-bedroom/2.5 bath (1,414 SF at $\$1,695$/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.