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2015 Fox Point Trail - Villa Capri Apartments, Fort Wayne, IN

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2015 Fox Point Trail - Villa Capri Apartments

Fort Wayne, IN 46816 - Outer Central/Southside MF Submarket

Property Type:Multi-Family Number of Units:172 Status:Existing Year Built:1972
Stories:2 Building Size:185,908 SF Land Area:17.56 AC (764,914 SF)
For Sale Price:$6,300,000 Price/Unit:$36,627.91 Cap Rate:7.81 % GRM:-

Parking:1.3 Parking Spaces / 1,000 SF

Sale Notes:
Villa Capri Apartments & Townhomes is a 172-unit affordable housing apartment community situated on 17 wooded acres, on the south side of Fort Wayne, IN. The property is located close to shopping, restaurants, entertainment, and employment, all within walking distance.
Villa Capri was built in 1972 and rehabbed and placed into service in 2002 & 2003 under the Section 42 Low-Income Housing Tax Credit (LIHTC) program. There is an existing regulatory agreement in place which requires all units to be rented to income qualifying residents earning no more than 40%, 50%, and 60% of Area Median Income (AMI) limits, which are provided by Indiana Housing and Community Development Authority. The property is still within its initial tax credit compliance period. A qualified purchaser can be a non-profit or for-profit entity that agrees to maintain the affordability restrictions.
Villa Capri offers one, two, and three bedroom apartment homes featuring a full appliance package, w/d hook-ups (in select units), fireplaces (in select units), large closets, private patios/balconies (in select units), on-site laundry facilities, community pool, basketball and tennis courts, clubhouse, and playground

Investment Property Advisors
Jeff Dilbone
(513) 489-1500

LIHTC Advisors
Jeff Irish
(800) 840-3021

John Nicolas
(800) 840-3021

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