Investment Overview

Marcus & Millichap is pleased to exclusively present Whispering Pines, a 48-unit apartment complex located in Paulding, OH. Located just 40 minutes from Fort Wayne, the property benefits from being near one of the fastest growing cities in the Midwest. The property was built in 1989 and is comprised of Forty-Seven (47) Two-Bedroom Apartments, One (1) One-Bedroom Apartment, and on-site leasing office, and 67 self-storage units. The self-storage units are located in two purpose-built buildings adjacent to the apartment buildings. Every unit has in-unit washer & dryer hook-ups. The two-bedroom units are approximately 850 square feet, and the current average rent is only $651. Nearby comparable properties average two-bedroom rents are $880 per month, supporting the notion that Whispering Pines is well situated for value-add unit renovations to substantially grow revenue. Whispering Pines offers the prospective investor an attractive opportunity to acquire 48 apartments near Fort Wayne, Indiana. The property was built in 1989, has great curb appeal, has an excellent unit mix of primarily two-bedroom units, has the #1 in-unit amenity in in-unit washer & dryer hook-ups, is offered at an affordable basis, is primed for value-add interior unit renovations, has an on-site office, and has additional upside via the 67 self-storage units.