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$ 3,750,000
Est. payment | /mo
28,032 SqFt
$ 3,750,000
Est. payment | /mo
28,032 SqFt
Key Details
Property Type Apartment
Sub Type Apartment
Listing Status Active
Purchase Type For Sale
Square Footage 28,032 sqft
Price per Sqft $133
MLS Listing ID 1877557
Year Built 1981
Property Sub-Type Apartment
Source Cincinnati Multiple Listing Service
Property Description
Well-maintained 48-unit multifamily community in Middletown, Ohio, featuring 48 spacious one-bedroom, one-bath apartments, each with a living room, dining area, and kitchen. This income-producing asset offers desirable tenant amenities, including an on-site leasing office, laundry facility, and dog park. Recent capital improvements include a new roof installed in 2022 and all new electrical service completed in 2023. Select units have also been updated with new hot water heaters, flooring, countertops, and other interior finishes. Rents continue to trend upward as units turn over, providing a clear path for continued revenue growth. The property also benefits from an on-site maintenance employee, with those expenses already incorporated into the current NOI. Located between Dayton and Cincinnati, this property presents an excellent investment opportunity with stable cash flow and additional upside potential through continued unit upgrades and operational efficiencies.
Location
State OH
County Butler
Area Butler-W19
Zoning Residential,Multi Family
Rooms
Basement None
Interior
Heating Electric
Cooling Wall Unit
Fireplaces Type None
Inclusions Refrigerator, Range
Window Features Slider
Exterior
Parking Features None
View Y/N No
Water Access Desc Public
Roof Type Shingle
Building
Foundation Poured
Sewer Public Sewer
Water Public
Level or Stories Three
New Construction No
Schools
School District Middletown City Sd
Others
Miscellaneous Coin Laundry,Smoke Alarm
Listed by Keller Williams Community Part
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