investment property offering anthony wayne flats …€¦ · multi-family specialist...
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1021 S. Calhoun Street, Fort Wayne, IN 46802 (260) 407-0900 www.bndcommercial.com
Robert L. Hudson, CCIM Multi-Family Specialist
[email protected] (260) 744-9200 - Direct (260) 417-6000 - Cell
High Occupancy Rate Complex contains 54 units Renovated 2012
Presented By
Carolyn Spake-Leeper, SIOR Broker
[email protected] (260) 421-1916 - Direct (260) 437-8745 - Cell
INVESTMENT PROPERTY OFFERING
ANTHONY WAYNE FLATS AND RETIREMENT COMMUNITY APARTMENTS
$1,250,000
Price Reduced!
Disclaimer
Presented By: Robert L. Hudson, CCIM | [email protected] | (260) 744-9200 Carolyn Spake-Leeper, SIOR | [email protected] | (260) 421-1916
BND Commercial has been retained as exclusive advisor and broker for the owners of Anthony Wayne Flats & Retirement Community, 4330-4522 & 4708-4838 S. Anthony Blvd., Ft. Wayne IN 46806. This Offering Memorandum has been prepared by BND Commercial (“Broker”), for use by a limited number of parties and does not purport to provide a complete or fully accurate summary of the property or any of the documents related thereto, nor does it purport to be all-inclusive or to contain all of the information which prospective investors may need or desire. All projections have been developed by Broker and other designated sources and are based upon assumptions relating to the general economy, competition, and other factors beyond the control of the Owner and therefore are subject to variation. No representation is made by Broker or the Owner as to the accuracy or completeness of the information contained herein, and nothing contained herein shall be relied upon as a promise or representation as to the past, present, and future performance of the property. Although the information contained herein is believed to be correct, the Owner, Broker and their employees and agents disclaim any responsibility for inaccuracies and expect prospective purchasers to exercise independent due diligence in verifying all such information. Further, Broker, the Owner, and their employees disclaim any and all liability for representation and warranties, expressed and implied, contained in or omitted from the Offering Memorandum or any other written or oral communication transmitted or made available to the recipient. The Offering Memorandum does not constitute a representation that there has been no change in the business or affairs of the property or the Owner since the date of preparation of the Offering Memorandum. Analysis and verification of the information contained in the Offering Memorandum are and shall be solely the responsibility of the prospective purchaser and that purchaser’s own advisors. Additional information and an opportunity to inspect the property will be made available upon written request to interested and qualified prospective investors. The Owner and Broker each expressly reserve the right, at their sole discretion, to reject any or all expressions of interest or offers regarding the property and/or to terminate discussions with any entity at any time with or without notice. The Owner shall have no legal commitment or obligations to any entity reviewing the Offering Memorandum or making an offer to purchase the property unless and until such offer is approved by the Owner, a written agreement for the purchase of the property has been fully executed, delivered, and approved by the Owner and its legal counsel, and any conditions to the Owner’s obligations thereunder have been satisfied or waived. This Offering Memorandum and its contents, except such information that is a matter of public record or is provided in sources available to the public, are of a confidential nature. By accepting the Offering Memorandum, you agree that you will hold and treat it in the strictest confidence, that you will not photocopy or duplicate it, that you will not disclose Offering Memorandum or any of the contents to any other entity (except to outside advisors retained by you, if necessary, for your determination of whether or not to make a proposal and from whom you have obtained an agreement of confidentiality) without the prior written authorization of the Owner or Broker, and that you will not use the Offering Memorandum or any of the contents in any fashion or manner detrimental to the interests of the Owner or Broker. Unless otherwise agreed by all parties in writing, Broker is the agent of only the Seller. If you have no interest in the property at this time, please return the Offering Memorandum forthwith. We obtained the information above from sources we believe to be reliable. However, we have not verified its accuracy and make no guarantee, warranty or representation about it. It is submitted subject to the possibility of errors, omissions, change of price, rental or other conditions, prior sale, lease or financing, or withdrawal without notice. We include projections, opinions, assumption or estimates for example only and they may not represent current or future performance of the property. You and your tax and legal advisors should conduct your own investigation of the property and transaction.
The information listed above has been obtained from sources we believe to be reliable; however, we accept no responsibility for its correctness.
Executive Summary
Address:
4330-4522 S. Anthony Blvd. 4708-4838 S. Anthony Blvd. Fort Wayne, IN 46806
List Price: $1,250,000
Price Per Unit: $23,148.15
Price/SF: $32.26 SF
Cap Rate: 10.75%
Trailing 12 NOI: $134,402
GRM: 3.89
Total Units: 54
Building SF: 38,750 SF
No. of Buildings: 26
Land Acres: 5.59 +/- Acres
Expenses/SF: $4.72
Income/Expense Ratio: 58%
ANTHONY WAYNE FLATS & RETIREMENT COMMUNITY
Cross Street: McKinnie Ave. / Pettit Ave. Tax Parcel Number: 02-12-24-231-025.000-074
02-12-24-282-022.000-074
Market: Fort Wayne Sub Market: South Fort Wayne
Year Built: 1951 Zoning Type: R1 / single family residential
Location Class: C Foundation Type: Concrete slab
Building Class: C Roof Type: Asphalt shingles
No. of Stories: One HVAC: GFA
Utilities: Landlord pays Air Conditioning: Central GFA
Washer/Dryer: Tenant provides No: of Parking Spaces: 54
Cable/Internet: Yes, Tenant pays Parking Ratio: 1:1
Bus: Yes Clubhouse: No
The information listed above has been obtained from sources we believe to be reliable; however, we accept no responsibility for its correctness.
Presented By: Robert L. Hudson, CCIM | [email protected] | (260) 744-9200 Carolyn Spake-Leeper, SIOR | [email protected] | (260) 421-1916
Executive Summary
Property Descriptions
Construction Wood frame construction on slab foundation.
Utilities Landlord provides: heat, air conditioning, water & sewer, electricity, and trash.
Property Anthony Wayne was renovated in 2012 with new windows, HVAC, electric, kitchens, bathroom tub / shower stalls, sinks, medicine cabinets, paint and carpeting through-out. Most of the roof shingles were replaced with 25 year shingles. The owner spent close to $1million on renovations.
ANTHONY WAYNE FLATS & RETIREMENT COMMUNITY
The information listed above has been obtained from sources we believe to be reliable; however, we accept no responsibility for its correctness.
Presented By: Robert L. Hudson, CCIM | [email protected] | (260) 744-9200 Carolyn Spake-Leeper, SIOR | [email protected] | (260) 421-1916
Investment Information ANTHONY WAYNE FLATS & RETIREMENT COMMUNITY
Revenues and Expenses, August 2016 Through July 2017Trailing 12
Jul-17
Operating Revenue:Gross Scheduled Income 345,744 Vacancy 7% 24,421 Rents Received 321,323 Security Deposits ForfeitedOther Income
Gross Operating Income 321,323
Operating Expenses:Court Fees 526 Electricity 35,254 Gas 19,348 Insurance - Property 7,123 Lawn Service 3,740 Maintenance Labor 34,847 Management Fees 11,215 Materials 13,078 New/Used Appliances 967 Pest Control 2,230 Professional Fees & Taxes 525 Property Taxes 20,219 Snow Removal 260 Water/Sewer 37,590
Total Operating Expenses 186,921 Total Net Operating Income 134,402
The information listed above has been obtained from sources we believe to be reliable; however, we accept no responsibility for its correctness.
Presented By: Robert L. Hudson, CCIM | [email protected] | (260) 744-9200 Carolyn Spake-Leeper, SIOR | [email protected] | (260) 421-1916
Investment Information ANTHONY WAYNE FLATS & RETIREMENT COMMUNITY
The information listed above has been obtained from sources we believe to be reliable; however, we accept no responsibility for its correctness.
Presented By: Robert L. Hudson, CCIM | [email protected] | (260) 744-9200 Carolyn Spake-Leeper, SIOR | [email protected] | (260) 421-1916
Investment Information ANTHONY WAYNE FLATS & RETIREMENT COMMUNITY
The information listed above has been obtained from sources we believe to be reliable; however, we accept no responsibility for its correctness.
Presented By: Robert L. Hudson, CCIM | [email protected] | (260) 744-9200 Carolyn Spake-Leeper, SIOR | [email protected] | (260) 421-1916
Investment Information ANTHONY WAYNE FLATS & RETIREMENT COMMUNITY
The information listed above has been obtained from sources we believe to be reliable; however, we accept no responsibility for its correctness.
Presented By: Robert L. Hudson, CCIM | [email protected] | (260) 744-9200 Carolyn Spake-Leeper, SIOR | [email protected] | (260) 421-1916
Photos ANTHONY WAYNE FLATS & RETIREMENT COMMUNITY
The information listed above has been obtained from sources we believe to be reliable; however, we accept no responsibility for its correctness.
Presented By: Robert L. Hudson, CCIM | [email protected] | (260) 744-9200 Carolyn Spake-Leeper, SIOR | [email protected] | (260) 421-1916
Location Map ANTHONY WAYNE FLATS & RETIREMENT COMMUNITY
The information listed above has been obtained from sources we believe to be reliable; however, we accept no responsibility for its correctness.
Presented By: Robert L. Hudson, CCIM | [email protected] | (260) 744-9200 Carolyn Spake-Leeper, SIOR | [email protected] | (260) 421-1916
Location Map
S. Anthony Blvd.
Pet
tit A
ve.
McK
inni
e A
ve.
S. Anthony Blvd.
S. Anthony Blvd.
ANTHONY WAYNE FLATS & RETIREMENT COMMUNITY
The information listed above has been obtained from sources we believe to be reliable; however, we accept no responsibility for its correctness.
Presented By: Robert L. Hudson, CCIM | [email protected] | (260) 744-9200 Carolyn Spake-Leeper, SIOR | [email protected] | (260) 421-1916
Area Information DEMOGRAPHICS FORT WAYNE, IN
The information listed above has been obtained from sources we believe to be reliable; however, we accept no responsibility for its correctness.
Presented By: Robert L. Hudson, CCIM | [email protected] | (260) 744-9200 Carolyn Spake-Leeper, SIOR | [email protected] | (260) 421-1916
Area Information DEMOGRAPHICS FORT WAYNE, IN
The information listed above has been obtained from sources we believe to be reliable; however, we accept no responsibility for its correctness.
Presented By: Robert L. Hudson, CCIM | [email protected] | (260) 744-9200 Carolyn Spake-Leeper, SIOR | [email protected] | (260) 421-1916
Area Information DEMOGRAPHICS FORT WAYNE, IN
The information listed above has been obtained from sources we believe to be reliable; however, we accept no responsibility for its correctness.
Presented By: Robert L. Hudson, CCIM | [email protected] | (260) 744-9200 Carolyn Spake-Leeper, SIOR | [email protected] | (260) 421-1916
Multi-family investment provides sustainable growth in the real estate marketplace.
Multi-family investment provides a steady source of positive present and future cash flow.
Multi-family investment provides numerous tax advantages.
Multi-family investment provides equity appreciation over a period of time.
Multi-family investment is generally less risky than most other real estate investment.
While interest rates are historically low, it is an excellent environment for both buyers and sellers.
The BND multi-family investment team is dedicated to assisting clients who wish to acquire or sell properties in Northeast Indiana. With more than 100 successful multi-family closings, our goal is simple: to create wealth for investors by utilizing our experience and in-depth market knowledge of apartments, student housing, senior living and distressed properties to achieve a smooth and successful transaction.
The BND team has the capacity to handle multi-family requirements of any size. Our professionals first acquire a complete understanding of our clients’ needs and then provide the expertise and tools to fulfill those requirements and objectives. Utilizing aggressive marketing strategies and our company’s strong partnership with local and national brokerage firms, we are able to carefully screen each potential buying prospect. This saves time and resources by only promoting property listings to those individuals or companies with the greatest potential for a successful closing.
As an investor, you can rest assured that your special requirements - whether buying selling or helping you find a replacement property for a 1031 exchange - are considered unique, and our services are customized exclusively to meet your needs.
The BND multi-family team will assist you in every stage of the real estate process by representing your interests through buying, selling, financing, or managing and valuing assets. We provide strategic planning and research, portfolio analysis, as well as many other investor services. Thanks to our inside knowledge of the regional multi-family market, our advice to owners and investors is specifically tailored to each individual.
Our team has more than 50 years of combined experience, and our commercial real estate sales and investment services have played a critical role in creating wealth for our clients. We are confident that we can do the same for you.
Ashley Court Apartments, 316 Units
Autumn Woods Apartments (sold 3 times), 211 Units
Bovera Apartments, 17 Units
Brendonwood Park Apts. (sold 2 times), 210 Units
Brentwood Senior Apartments, 120 Units
Brighton Meadows Apartments, 248 Units
Carriage House Apartments (sold 4 times), 240 Units
Casselwood Apartments (sold 2 times), 140 Units
Chase Manor Apartments, 144 Units
Cobblestone Villas, 224 Units
Coliseum Park Apartments, 460 Units
DeVille Arms Apartments (sold 2 times), 22 Units
Diplomat Apartments (sold 2 times), 140 Units
Doehrman Apartments, 26 Units
El Dot Apartments, 14 Units
Fairfield Gardens Apartments (sold 2 times), 48 Units
Fairfield Manor Apartments (sold 2 times), 74 Units
Fairview Court Apartments (sold 2 times), 112 Units
Florida Apartments (sold 2 times), 46 Units
Foster Park Apartments (sold 2 times), 70 Units
Garden Royal Apartments, 22 Units
Gardenview North Apartments, 22 Units
Garrison Flats Apartments, 34 Units
Hickory Mill Apartments, 70 Units
Hobson Road Apartments, 10 Units
Hunt Club Apartments, 300 Units
Indian Village Garden Apts. (sold 2 times), 100 Units
Indian Village Manor Apartments, 22 Units
Jackson Manor Apartments, 34 Units
Jackson Wayne Apartments (sold 2 times), 33 Units
Lakeside Apartments, 61 Units
Poagston Arms Apartments, 105 Units
Poplar Ridge, 221 units
Port-O-Call Apartments, 36 Units
Regency House Apartments (sold 4 times), 36 Units
Rex Terre Apartments, 40 Units
Riverview Terrace Apartments (sold 3 times), 102 Units
Sheridan Court Apartments (sold 2 times), 54 Units
Shoaff Park Village East Apts. (sold 2 times), 96 Units
Stratford Place Apartments, 52 Units
Summit Ridge Apartments (sold 2 times), 40 Units
Tara Marca Apartments (sold 2 times), 34 Units
Three Rivers Apartments, 335 Units
Van Buren Wayne Apartments (sold 2 times), 34 Units
Victoria Square Apartments, 210 Units
Villa Capri Apartments, 172 Units
Village Apartments, 12 Units
Village Green Apartments, 210 Units
Williamsburg Apartments, 144 Units
Windsor Apartments, 23 Units
Worthington Apartment, 50 Units
Bob Hudson, CCIM Senior Broker
Bob Hudson, CCIM, is a well-respected professional in northeast Indiana’s commercial real estate arena with more than 40 years experience and over $600 million in successful real
estate transactions, including the disposition of over 100 apartment complexes in the Fort Wayne area. Before coming to BND, Bob was the owner / principal broker for Hudson Investment Realty Company and more recently served as local managing director of a national commercial real estate firm where he specialized in the sale of multi-family housing. Bob has a Bachelor of Science degree in business administration and accounting from Indiana University and is a proud veteran with an Honorable Discharge from the U.S. Army. Bob has earned the coveted Certified Commercial Investment Member (CCIM) designation and is a member of the Indiana Commercial Board of REALTORS, the National Association of REALTORS, the Indiana Association of REALTORS and the Fort Wayne Apartment Association. In addition, Bob serves on committees of Faith Lutheran Church. He previously served on boards for the Boy Scouts of America, and Wings of Hope, a prison ministry for women. He was a member of the Fort Wayne Downtown Rotary, and is a past president of the Downtown Sertoma Club. He and his wife, Sheila, have three children and four grandchildren. [email protected] (260) 744-9200
Multi-Family Transactions
1021 S. Calhoun Street Suite One Fort Wayne, IN 46802 Office: 260-407-0900 Fax: 260-469-7137
www.bndcommercial.com
Ashley Court Apartments, 316 Units
Autumn Woods Apartments (sold 3 times), 211 Units
Anthony Wayne Apartments, 54 Units
Bovera Apartments, 17 Units
Brendonwood Park Apts. (sold 2 times), 210 Units
Brentwood Senior Apartments, 120 Units
Brighton Meadows Apartments, 248 Units
Carriage House Apartments (sold 4 times), 240 Units
Casselwood Apartments (sold 2 times), 140 Units
Chase Manor Apartments, 144 Units
Cobblestone Villas, 224 Units
Coliseum Park Apartments, 460 Units
DeVille Arms Apartments (sold 2 times), 22 Units
Diplomat Apartments (sold 3 times), 140 Units
Doehrman Apartments, 26 Units
El Dot Apartments, 14 Units
Fairfield Gardens Apartments (sold 2 times), 48 Units
Fairfield Manor Apartments (sold 2 times), 74 Units
Fairview Court Apartments (sold 2 times), 112 Units
Florida Apartments (sold 2 times), 46 Units
Foster Park Apartments (sold 2 times), 70 Units
Franklin Apartments, 16 Units
Garden Royal Apartments, 22 Units
Gardenview North Apartments, 22 Units
Garrison Flats Apartments, 34 Units
Hickory Mill Apartments, 70 Units
Hobson Road Apartments, 10 Units
Hunt Club Apartments, 300 Units
Indian Village Garden Apts. (sold 2 times), 100 Units
Indian Village Manor Apartments, 22 Units
Jackson Manor Apartments, 34 Units
Jackson Wayne Apartments (sold 2 times), 33 Units
Lakeside Apartments, 61 Units
Poagston Arms Apartments, 105 Units
Poplar Ridge, 221 units
Port-O-Call Apartments, 36 Units
Prestwick Square Apartments, 100 Units
Regency House Apartments (sold 4 times), 36 Units
Rex Terre Apartments, 40 Units
Riverview Terrace Apartments (sold 3 times), 102 Units
Sheridan Court Apartments (sold 2 times), 54 Units
Shoaff Park Village East Apts. (sold 2 times), 96 Units
Stratford Place Apartments, 52 Units
Summit Ridge Apartments (sold 3 times), 40 Units
Tara Marca Apartments (sold 2 times), 34 Units
Three Rivers Apartments, 335 Units
Van Buren Wayne Apartments (sold 2 times), 34 Units
Victoria Square Apartments, 210 Units
Villa Capri Apartments, 172 Units
Village Apartments, 12 Units
Village Green Apartments, 210 Units
Washington Apartments, 15 Units
Williamsburg Apartments, 144 Units
Windsor Apartments, 23 Units
Worthington Apartment, 50 Units
Multi-Family Property Assignments
[email protected] (260) 421-1916
Carolyn joined BND in 2015 after more than a decade as an associate broker at another local commercial real estate company. She specializes in sales and lease transactions of all types
including both investment and owner-occupied properties. Carolyn earned a BA from Ball State University in Marketing and Public Relations. She is a current board member of the Indiana Commercial Board of REALTORS® (ICBOR) and Risk Management Association. She is also a member of the prestigious Society of Industrial and Office Realtors (SIOR), which is the highest designation to be awarded to an industrial or office commercial realtor. Prior to her real estate career, Carolyn spent more than ten years in the Fort Wayne financial industry, including a position as Vice President of Business Development and Marketing for 3 Rivers. Carolyn is a Fort Wayne native who remains passionate about serving her community through various non-profit boards and committees, including such organizations as SCAN, Fort Wayne Women’s Bureau, East Wayne Street Center, Mental Health of America and the American Heart Association. She has been a YWCA Tribute to Women recipient as well as a Future 40 honoree. She is also an active member of WOWnet and former president of the group.
Carolyn has three children: Spencer 24, Garrett 20, and Mallory 13. They enjoy sports and lake activities as a family.
Carolyn Spake-Leeper, SIOR Senior Broker
Clients Represented Greater Fort Wayne, Inc Citilink Fort Wayne Women’s Bureau
Scottish Rite 111 Design Fort Wayne Dermatology
3 Rivers YWCA St. Joe Hospital
Fort Wayne Housing Authority Howard Toussaint Properties Jeff Gilmore Homes
Freedom Industrial Park Lutheran Life Villages Steel Dynamics Inc.
Fort Wayne Oncology and Hematology Foresight Engineering Dr. Michael Tom
Peg Perego Fort Financial FCU Star Bank
Steininger Development Corp Mike & Jeff Thomas Metropolitan Title Company
Parkwood Office Park/Ambassador Family Ent. Lancia Office Park Resource Engineers
Leeper’s Lawn Service Ambassador City of Ft. Wayne/Allen County Auburn Family Dentistry
Visiting Nurse East Wayne Street Center Park Center
Assignments YWCA (Wells Street Campus) 100,000 SF Sale
Emmaus Lutheran Church 60,260 SF Sale
Parkwood Office Park 40,800 SF Sale/Leasing
Lake Pointe Office Park 17,600 SF Sale/Leasing
Shovel Ready Site @ I-69 & Lafayette Center Road 28 acres Sale
Keystone Distribution Park 273,932 SF Leasing
La-Z-Boy Furniture Galleries 23,179 SF Sale
Kiddie Academy 7,904 SF Leasing
Greater Fort Wayne Inc 14,196 SF Leasing
Watersong Office Park Land/Buildings Sale/Leasing
Hyde Park By Lancia 20,865 SF Leasing
Sycamore Pointe Office Park 17,171 SF Leasing
9901 Auburn Road 7,668 SF Sale
Story Pointe/Union Chapel Road Land Sale
5750 Falls Drive 8,348 SF Sale/Leasing
Parkview Health/Mutual Drive 8,719 SF Lease
Commercial Real Estate Assignments
1021 S. Calhoun Street Suite One Fort Wayne, IN 46802 Office: 260-407-0900 Fax: 260-469-7137
www.bndcommercial.com