VILLA CAPRI APARTMENTS

Download Marketing Package & Financial Summary Here

Download Villa_Capri_Fort_Wayne_IN_8-19-2016.pdf
VILLA CAPRI APARTMENTS

 

  • Located Close to Restaurants, Retail, and Area Amenities
  • Easy Access to Highway 27
  • 0.8 miles To Wal-mart
  • Current Rents are Below Max Net Rents on 60% Units
  • Low Historical Vacancy
  • Situated on 17 Wooded Acres

 

2015 Fox Point Trail
Fort Wayne, IN 46816

  • Status: Closed
  • Price: $6,300,000
  • # of Units: 172
  • Rentable SF: 185,908
  • Price per Unit: $36,628
  • Price per SF: $33.89
  • Year Built: 1972
  • # of Buildings: 18
  • Lot Size: 17.56 Acres
  • Density: 9.79 Units/Acre
  • # of Stories: 2
  • Download Marketing Package:
  • Description:

    • 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.

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