This Multifamily Property is Off-Market.

10943 Birchridge Drive
Cincinnati, OH 45240 ·

23 Units · Multifamily For Sale

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Birchridge Apartments

Price N/A Cap Rate 9%
No. Units 23 Gross Rent Multiplier 6
Building Size 28,750 SF Occupancy 100%
Property Type Multifamily No. Stories 2
Property Sub-type Garden/Low-Rise Year Built 1972
Property Use Type Investment Lot Size 2 AC
Commission Split 1.5% Parking Ratio 2 / 1,000 SF
Listing ID: 15312247 Date Created: 08/29/2007 Last Updated: 10/18/2010

Description

Birchridge Townhomes is an updated complex of 23 units, each with 3 bedrooms and 1 1/2 bath, spacious living rooms and dining area. These 2 story townhomes are 1,200 sq. feet and located in a quaint residential neighborhood of single family homes. The spaciousness and layout makes this an easy to keep rented complex, with very little turnover. Property is currently running at 100% occupancy! All units have a front and rear door entrance, with a patio and storage in the back. The first floor houses the kitchen, living and dining rooms and half bath, while the 3 bedrooms and full bath are on 2nd floor. Most of the units are on section 8 housing, and annual inspections have kept the property well maintained and easy to pass inspections with no deferred maintenance! Each unit has it's own HVAC system which is paid for by the tenant making this an exceptionally profitable property to own.

This property is located in the neighborhood of Springfield Township. A suburban area of mainly single family homes. It is conveniently located from the local retail shopping center, the busline of Hamilton, and the I-275 loop making it convenient location for getting around Cincinnati.

Highlights

  • All 3 Bedroom Townhouses - very easy to rent! (New Lease rents increasing)
  • No Deferred Maintenance
  • Easy to Manage Property, Currently 100% occupied, Rents are Actual.
  • Heat, AC and Electric paid by tenant
  • Current Mgmt will stay if requested
  • Further profits can be added- by submetering the rest of units (6 now complete)

Research

10943 Birchridge Drive, Cincinnati, OH 45240 (Hamilton County)

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