For Sale
$550,000

2904 Wayne TrceFort Wayne, IN 46806

Seven-unit rental property, 50% occupancy.

Overview

Added:
Dec 11, 2024
Days on market:
114
This exceptional investment opportunity presents a portfolio of seven single-family rental properties located in Fort Wayne, Indiana, currently operating at 50% occupancy. The portfolio includes seven buildings, each individually addressable. Three properties are already leased to long-term tenants at 3417 Plaza Drive (2 bedrooms, 1 bath), 3124 Reed Street (3 bedrooms, 1 bath), and 1013 3rd Street (3 bedrooms, 1 bath). The remaining four properties, located at 2904 Wayne Trace (3 bedrooms, 1 bath), 2908 Reed Street (3 bedrooms, 1 bath), 2225 New Haven Avenue, and 2901 Wayne Trace, offer significant potential for increased revenue with minimal updates to achieve full occupancy. Additionally, the portfolio includes a storage building at 2225 New Haven Avenue, which has CM3 zoning, allowing for potential conversion into a one-bedroom unit or use as a car lot. The property at 2901 Wayne Trace is also zoned for car lot use. This portfolio presents a compelling opportunity for investors seeking immediate cash flow and significant upside potential in a strong rental market. The asking price for this multifamily investment is $550,000. All properties are located within Allen County, Indiana, zip code 46806.

Highlights

  • 3417 Plaza Dr: 2-bedroom, 1-bathroom property.
  • 3124 Reed St: 3-bedroom, 1-bathroom house.
  • 1013 3rd St: 3-bedroom, 1-bathroom home.
  • 2904 Wayne Trace: 3-bedroom, 1-bathroom residence.
  • 2908 Reed St: 3-bedroom, 1-bathroom single-family home.
  • 2225 New Haven: Storage building, convertible to a 1-bedroom, 1-bathroom unit; CM-3 zoning allows for potential car lot use.

Property Details for 2904 Wayne Trce

Property type
Residential income homes
Buildings
7
Units
7

Location Insight

City
Fort Wayne
County
Allen
State
Indiana
Latitude
41.0597449
Longitude
-85.0987881
2904 Wayne Trce, Fort Wayne, Indiana

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2904 Wayne Trce
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