Premier LIHTC Community 30 minutes from Fort Wayne IN

For Sale

718 N SR 9, Thorncreek Township, IN 46725

This Thorncreek Township property for sale is located at 718 N SR 9. Contact the listing broker for details on the current sale price for Premier LIHTC Community 30 minutes from Fort Wayne IN. Premier LIHTC Community 30 minutes from Fort Wayne IN is situated on a lot that is 2.87 acre in size.

Contacts

broker

Bryce Wetzel

broker

Tyler Hague

broker

Lauren Stoliar

broker

Will Mathews

Property Details

  • Property Type Other
  • Lot Size 2.87 Acre
  • Additional Rent Contact for pricing
  • Year Built 1997
  • Date Updated Nov 20, 2024

Colliers is pleased to present North Ridge, a 40-unit 100% affordable community located in Columbia City, IN. The property boasts a convenient location, offering residents effortless access to US Highway 30 and benefits from the rapid expansion of Fort Wayne. Constructed in 1997 and in good physical condition, North Ridge offers community amenities including a community room, playground, pet friendly, and in-unit washer and dryers.

The property was placed in service in 1998 under the Section 42 Low-Income Housing Tax Credit (LIHTC) program. The Use Agreement requires a 15-year compliance period that is followed by a 25-year extended use period. Under current regulatory agreements 60% of the units are restricted to tenants making no more than 60% area median income (AMI), while 40% of units are restricted to tenants making no more than 50% AMI. These restrictions are in-place until the end of the extended use period in 2038. With a proven track record of stable occupancy and well below max allowable rents, new ownership will acquire a cash-flowing asset with potential long term upside.

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Getting around

  • 21/100

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Location

  • City Thorncreek Township, IN
  • Neighborhood Tri-Lakes
  • Zip Code 46725
  • Market Fort Wayne

Points of Interest

  • ChargePoint

    4.44 miles

  • Marathon

    5.02 miles

  • Citgo

    7.80 miles

  • Lassus Handy Dandy

    7.99 miles

  • Speedway

    7.99 miles

  • Faculty Lot

    7.55 miles

  • Administration Parking

    7.61 miles

  • Student Lot

    7.67 miles

  • Smoker's Cove

    9.35 miles

  • Super 8 Columbia City

    6.67 miles

  • Motel 8

    6.73 miles

  • Quality Inn Columbia City

    6.86 miles

  • Brick Ark Inn Bed & Breakfast

    9.43 miles

  • Kroger

    6.48 miles

  • Walmart Supercenter

    6.70 miles

  • ALDI

    6.83 miles

  • Sav-U-More

    7.85 miles

  • Egolf's IGA

    8.10 miles

In-Depth Research Available for this Property

Access more in-depth information about this property — including ownership, tenant details, property characteristics and transaction history, along with local market insights and much more — on CommercialEdge.

Contact Premier LIHTC Community 30 minutes from Fort Wayne IN