55+ Community with Expansion
For Sale
Contact for pricing
14203 Illinois Road, Fort Wayne, IN 46814
Stabilized income-producing property with expansion potential in Fort Wayne, Indiana.
Property SizeContact for details
Lot Size1.78 Acres
Days on Market87
Property Features for 14203 Illinois Road
General Information
Standard status
Active
Lot size
1.78 Acres
Property subtype
Multifamily, Land, Senior Living
Zoning
R3
Occupancy
100%
Net Operating Income
$500,000
Building Details
Year Built
2014
Buildings
6
Stories
1
Listing Agency:
Sturges Property Group
(260) 424-8448
Listed By:
Neal Bowman · License #IN RB14026402
Source:
Crexi
Added: May 15
Changed: Aug 8
Last Checked: Jul 16 at 8:46AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Sturges Property Group
Investment Insights
Based on property information with market context.
The Cottages at Bridgewater present an opportunity to acquire a stabilized, income-producing 55+ garden-style community. Located in a desirable suburban corridor of Fort Wayne, Indiana, the property features 53 well-maintained units. Included with the property is 1.775 acres of adjacent land, offering future expansion potential. The asset currently generates approximately $500,000 in net operating income, with strong occupancy under current ownership. Rents remain below comparable properties in the surrounding submarkets, presenting an opportunity to increase rates and drive additional revenue. The garden-style layout and age-restricted tenancy create a differentiated product in the southwest Fort Wayne market, appealing to a growing demographic of downsizing renters seeking low-maintenance living. The included adjacent land can support approximately 22 additional units, providing a value-add opportunity through phased development and long-term growth. The property is intended for use as an apartment building, multifamily property, residential income property, senior housing/retirement home, healthcare property, residential land & home lots, or general commercial real estate.
Key Highlights
- Stabilized, income‑producing 55+ garden‑style community in a desirable Fort Wayne, Indiana location.
- Generates approximately $500,000 in net operating income with strong occupancy.
- Includes 1.775 acres of adjacent land for potential expansion of approximately 22 units.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
83
Businesses Nearby
Explore this area
Business Placement
Demographics for 46814, IN
16,377
Population
5,848
Households
2.8
Avg Household Size
38
Median Age
62%
College-Educated
97%
High-School Grad
19.1 sq mi
ZIP Area
857
Density / Sq Mi
$143,245
Median Household Income
$71,662
Median Earnings
$1,249
Median Rent
$383,000
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Stabilized income-producing property with expansion potential in Fort Wayne, Indiana.
Where is this apartment building located?
The property is located at 14203 Illinois Road Fort Wayne, IN.
What is the asking price?
The asking price for this property is $8,200,000.
What are key features of this property?
This property features: Stabilized, income‑producing 55+ garden‑style community in a desirable Fort Wayne, Indiana location.; Generates approximately $500,000 in net operating income with strong occupancy.; Includes 1.775 acres of adjacent land for potential expansion of approximately 22 units.
