7100 In-930Fort Wayne, IN 46803

Property Details for 7100 In-930

Year built

2025

Property size (Sq ft)

5,624 SF

Property type

Apartment buildings

Description

This exceptional new construction fourplex in Fort Wayne, Indiana, presents a compelling investment opportunity. Located at 7100 IN-930, Allen County, zip code 46803, this Class A property boasts 5,624 square feet and features four spacious townhouse-style units, each offering three bedrooms, two and a half bathrooms, a two-car garage, and a private driveway. Construction is slated for completion by September 10, 2025, with site work beginning in June 2024 and vertical construction commencing in November 2024. Each unit is equipped with smart home technology, including a doorbell camera, smart lock, and smart thermostat. Residents enjoy convenient access to the adjacent New Haven Community Center, featuring a fitness center and pickleball courts, with a future splash pad planned. The asking price is $1,000,000 ($250,000 per unit), with a projected pro-forma cap rate of 7.32% and a pro-forma NOI of $73,172. The HOA covers water, sewer, trash, common area maintenance, landscaping, snow removal, and exterior maintenance. A significant advantage is the five-year property tax abatement, phasing in over five years, with the investor estimated to take possession in year three of the abatement. The projected cap rate after the abatement period is 7%. This is a turnkey investment opportunity in a rapidly developing area. The property is being sold by owner.

Location Insight

City

Fort Wayne

County

Allen

State

Indiana

Latitude

41.0953

Longitude

-85.0884

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