The Cottages at Bridgewater

14203 Illinois Road, Fort Wayne, IN 46814

$8,200,000 Investment, Residential For Sale

Sturges Property Group - The Cottages at Bridgewater Investment For Sale

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Sale Price
$8,200,000
Year Built
2014
Building Size
54,031 SF
Date Available
Immediate
Cap Rate
6.10%
Adjacent 1.775 AC
$500,000
Zoned
R3 units / C3 land
Property Type
Investment, Residential

Highlights

53 total garden-style units
55+ community
Expansion potential with adjacent 1.775 AC
Stable in-place cash flow

Adjacent Lot Available

$500,000: 1.775 acres

Overview

Sturges Property Group has been appointed the exclusive agent for the sale of The Cottages at Bridgewater, a rare opportunity to acquire a stabilized, income-producing 55+ garden-style community in one of the most desirable suburban corridors of Fort Wayne, Indiana. The property features 53 well-maintained units along with 1.775 acres of adjacent land, offering both immediate cash flow and 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 a clear 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 compelling value-add opportunity through phased development and long-term growth.

Contact Broker to sign a CA to view financials.