- Strategic Location Near Major Employers, Retail, & Entertainment
- Located in Qualified Census Tract
- Recent Renovations & Attractive Amenities
- Significant Upside Opportunity: Below-Market Rent, RUBS, & More
- Stable & Growing Local Economy
- Management and Operations Willing to Stay On
Strategic Location Near Major Employers, Retail, & Entertainment
Senior Town Apartments is strategically located in Northeast Fort Wayne, providing convenient access to major roadways and the downtown area. The property is close to key attractions, including Johnny Appleseed Park, the Fort Wayne Children’s Zoo, and Purdue University Fort Wayne. The surrounding area is home to numerous major employers, such as Parkview Health, Amazon, General Motors, and Lutheran Health Network, ensuring a stable workforce and ongoing housing demand. Retail options such as Glenbrook Square Mall, Covington Plaza, and Northcrest Shopping Center, along with essential services including Walmart, Kroger, and Target, add to the convenience for residents.
Located in Qualified Census Tract
Senior Town Apartments is located within a Qualified Census Tract (QCT), a designation that offers potential tax incentives and financial benefits for investors. Properties within a QCT may be eligible for programs that encourage community investment, such as Low-Income Housing Tax Credits (LIHTC) and other federal, state, or local incentives aimed at fostering economic development. This designation provides opportunities for additional funding sources and increases the potential for long-term financial growth while supporting affordable housing initiatives in the area.
Recent Renovations & Attractive Amenities
Senior Town Apartments is a well-maintained property that has been owned by the original developer since its inception. Recent capital expenditures include a $310,000 roof and gutter replacement in 2019, as well as brick and vinyl siding upgrades within the past 10-15 years. The property benefits from a 1.85-acre park attached to the property, offering residents a beautiful outdoor space for recreation. Additionally, the main property features a 1,630 square foot community center, which includes a gathering room with a kitchenette, restrooms, and a private party area. The center hosts regular community events such as potlucks and bingo, enhancing the social atmosphere of the property. On-site parking with 250 spaces ensures convenience for residents, and coin-operated laundry facilities provide an additional income stream, generating approximately $10,000 annually.
