Off market deal: 53 unit apartment complex in NE Fort Wayne 50 out of 53 occupied land contract possible

[Adam Gerig]

Attention investors!!!  I have a 53 unit apartment complex in Fort Wayne, Indiana for sale for $1,850,000.  Contract terms are $300k down at 6.75% interest.

50 out of 53 units are occupied it has 18 1bd/1ba, 16 2bd/1ba, 16 2bd/1.5ba, and 2 3bd/2ba units.  

It's currently grossing $23,660/month and netting right around $14k after expenses.  If interested let me know our company could also handle management on these units making it truly turn-key.  Stop sitting on the sidelines and get in the game!

[Adam Gerig]

$14k before debt service and management.  Again, this is all negotiable, but I know the seller would be willing to make the numbers work for any interested party and our management company is willing to manage the units for 8% commission.  

Owner is Amish so I'm working on getting him to get me something in written form so I can better understand as well, but I've done several deals with the guy and he's always made sure they are fair on both sides.  The owner is financing it.