Kirby Manor

Kirby Manor

Hobart, IN
Available
  • Property Type: Apartments
  • Year Built : 2006
  • Property Size: / 80 Units

Overview

Capstone Apartment Partners is pleased to present Kirby Manor, an 80-unit senior living (55+) multi-family asset located in Hobart, Indiana. Kirby Manor operates in conformance as a Low-Income Housing Tax Credit (LIHTC) project, limiting all 80 units to Area Median Income restrictions ranging from 30% to 60% AMI, depending on the unit type. Participation in this affordable program ensures investors are acquiring a high-quality asset that meets the strenuous criteria required in order to be eligible for tax credits. Although rent restrictions are in place, the current rents at Kirby Manor trail the Max Allowable Rents set by the county, presenting new ownership with the opportunity to immediately raise rents and substantially increase rental income. Kirby Manor is a fully occupied and well-built senior living community with an expansive amenity package, attractive unit mix, and spacious floor plans. As part of the Chicago MSA, Kirby Manor is surrounded by an abundance of retail and amenities as well as top healthcare centers and public transportation services. 

Investment Highlights

  • Immediate Rent Growth Achievable as Affordable Rents Trail Max Allowable
  • Well-Built Senior Living Community with 100% Occupancy and Waiting List
  • Attractive Unit Mix with Spacious Floor Plans
  • Proximity to Demand Drivers and Major Highways

Contact Information

Kevin Burns Investment Sales Advisor P: 239.272.1661
O: 800.746.3175 ext. 739
kburns@capstone-companies.com
Eric Liebich Director P: 248.225.3706
O: 800.746.3175 ext. 730
eric@capstone-companies.com
Ron Corrao Managing Director P: 757.749.6994
O: 800.746.3175 ext. 712
ron@capstone-companies.com
Thomas Colaiezzi Investment Sales Advisor P: 901.603.8590
O: 800.746.3175 ext. 714
tcolaiezzi@capstone-companies.com
Travis Cundiff Investment Sales Advisor P: 919.601.3119
O: 800.746.3175 ext. 792
tcundiff@capstone-companies.com
Jourdan Sullivan, MAI Investment Sales Advisor P: 903.450.3898
O: 800.746.3175 ext.749
jsullivan@capstone-companies.com
Matt Weinstein Investment Sales Advisor P: 703.987.0236
O: 800.746.3175 ext. 732
w.matt@capstone-companies.com
capstoneapts-logo