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$2,600,000
7109 Homestead Road, Fort Wayne, IN 46814
42 Beds
42 Baths
27,600 SqFt

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ATTENTION INVESTORS! Here's an opportunity to build just what you want. Whether you are just starting out or want to add to your portfolio; we have a plan for you. The owner of the property specializes in Multi-family construction. They just completed a similar project and are ready to start this complex for you. This site consist of 1.92 acres and has an existing detention pond. In our opinion the best use for the site would be a 14 unit residential rental complex consisting of fourteen 1448 square foot 3 bedroom 2.5 bath townhouses. All units will have a 288 square foot one car attached garage. All units will also have electric heat and central air. The price stated is turnkey today but subject to change with the ever changing commodity prices. We anticipate about 6 months construction time after approvals and permits. We also anticipate gross monthly rents to be $28,000 per month once fully occupied. The owner is the exclusive builder. They are flexible and open to your ideas. This development is subject to obtaining necessary government approvals. Pictures are for reference only.
  • Price:
  • $2,600,000
  • Bedrooms:
  • 42
  • Full Baths:
  • 28
  • Half Baths:
  • 14
  • Square Footage:
  • 27,600
  • Acreage:
  • 1.18
  • Year Built:
  • 2022
  • Listing ID #:
  • 202248359
  • Street Address:
  • 7109 Homestead Road
  • City:
  • Fort Wayne
  • State:
  • Indiana
  • Postal Code:
  • 46814
  • County:
  • Allen
  • Subdivision:
  • None
  • Listing Status:
  • Cont-Accptngbackupoffers
  • Listing Type:
  • Apartment Complex
School District: Southwest Allen Cnty
5
out of 5

Aboite Elementary School
Public
School Grade Level K-5
School Students 480 students
School Teachers 18 student/
teacher
4
out of 5

Summit Middle School
Public
School Grade Level 6-8
School Students 720 students
School Teachers 18 student/
teacher
5
out of 5

Homestead Senior High School
Public
School Grade Level 9-12
School Students 2335 students
School Teachers 20 student/
teacher
  • Age Of Dwelling:
  • 1
  • Basement Description:
  • Slab
  • Exterior Description:
  • Brick, Vinyl
  • Features:
  • Patio Open
  • Finished Above Ground Square Footage:
  • 27600
  • Finished Square Feet:
  • 27600
  • Flooring:
  • Mixed
  • New Construction:
  • Custom
  • Number Of 3 Bedroom Units:
  • 14
  • Number Of Units:
  • 14
  • Stories:
  • 2
  • Total Building Square Footage:
  • 27600
  • Type Of Roof:
  • Asphalt, Shingle
  • Year Built:
  • 2022
  • Annual Income:
  • 286000
  • Annual Insurance Expenses:
  • 5000
  • Annual Maintenance Expenses:
  • 1000
  • Annual Rental Income:
  • 336000
  • Annual Trash Expenses:
  • 2000
  • Annual Water/Sewer Expenses:
  • 9000
  • Lot Description:
  • Level
  • Lot Square Footage:
  • 51597
  • Days On Market:
  • 60
  • Included In Sale:
  • Building, Land
  • Association Fee Payment Frequency:
  • Not Applicable
  • Monthly Rent:
  • 2800
  • Owner Pays:
  • Building Insurance, Lawn Maintenance, Maintenance, Sewer, Snow Removal, Trash Collection, Water
  • Tax Year:
  • 30000
  • Tenant Pays:
  • Cooling, Electric, Heating
  • Driveway:
  • Asphalt
  • Parking Description:
  • Paved
  • Parking Spaces:
  • 14
  • Cooling System:
  • Central Air
  • Heating Fuel:
  • Electricity
  • Sewage Type:
  • City
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The amounts for the Tax, Insurance, and HOA are estimates and not actual amounts.

Your Payment
$1,400/mo

Source: CINC

  • Listing Provided By: Mark Noneman with Noneman Realty

    IDX information provided by the Indiana Regional MLS
  • “IDX information provided by the Indiana Regional MLS” WAYNE