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

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.
Ideally located on Illinois Road (SR-14) in the heart of Southwest Fort Wayne, this property offers unbeatable access to one of the city's fastest-growing residential and commercial corridors. Surrounded by new developments, shopping centers, dining, and top-rated schools, the complex is just minutes from major employers and I-69, making it highly desirable for commuters and families alike. This strategic location ensures strong tenant demand and long-term appreciation potential