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Chapel Hill Apartments
4427 Wilmington Pike, Kettering, OH 45440
N/A
120
106,600 SF
Multifamily
Garden/Low-Rise
Investment
9.10%
90%
2
1968
7.22 SF
-
Last Verified 1/6/2010
Listing ID 15899723
Highlights
81% two/three bedroom units- Only 72 units currently billed back for water
- Very desirable Kettering submarket
- All brick exteriors/low maintenance
- Good assumable debt in slumping credit market
Description
$620K PRICE REDUCTION
OWNER WILL LOOK AT ALL OFFERS
Marcus & Millichap is pleased to offer Chapel Hill Apartments. Located in the Kettering submarket of Dayton, the property sits in a very desirable community approximately 10 miles from downtown. The community is comprised of 10 buildings total, with an outstanding unit mix of (24) one bedroom units, (73) two bedroom/one bath units, and (23) three bedroom/ one and one-half bath units. The property was constructed in 1968 and is sprawled on park-like grounds covering several acres of natural wooded surroundings. Chapel Hill is situated at the corner of Wilmington Pike and East David Road . Amenities include paid water/sewer, central HVAC, swimming pool, on-site laundry, walk-in closets, ample parking, and on-site management. The owner recently started billing back for water and has close to 50 percent of the units paying. The property has tremendous upside with getting the additional units billed back for water and lowering the approximated $40,000 loss to lease. Chapel Hill Apartments is a solid opportunity for an investor to acquire 120 rental units with a great unit mix in a very desirable Kettering submarket.
Subject property is located in Kettering, Ohio-submarket located south of Dayton, Ohio.
Map of 4427 Wilmington Pike, Kettering, OH 45440 (Montgomery County)
Created 9/18/2008
Additional Information for 4427 Wilmington Pike, Dayton, OH 45440
View the Property Record for this address to access additional information such as historical listings, property details, tax details, owners, mortgages, tenants, and more.
The information above has
been obtained from sources believed reliable. While we do not doubt its accuracy we have not verified
it and make no guarantee, warranty or representation about it. It is your responsibility to independently
confirm its accuracy and completeness. Any projections, opinions, assumptions, or estimates used are
for example only and do not represent the current or future performance of the property. The value of
this transaction to you depends on tax and other factors which should be evaluated by your tax, financial,
and legal advisors. You and your advisors should conduct a careful, independent investigation of the
property to determine to your satisfaction the suitability of the property for your needs. TB-BSO