This Multifamily Property is Off-Market.

4823 Reading Road
Cincinnati, OH 45237 ·

41 Units · Multifamily For Sale

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The Carlton

Price N/A Property Sub-type Garden/Low-Rise
No. Units 41 Property Use Type Investment
Building Size 20,475 SF Lot Size 0.65 AC
Property Type Multifamily APN / Parcel ID 131-0004-0022, 131-0004-0092
Listing ID: 16467548 Date Created: 11/11/2009 Last Updated: 04/20/2010

Description

Constructed between 1912 and 1962, The Carlton Apartments is a senior community with many long-term residents. There are 41 total units consisting of a mix of efficiency, one, two-, and four-bedroom garden-style apartment units. The property is configured by four apartment buildings and one two-family building, all with brick masonry exteriors, flat rubber roofs, owner-paid gas boilers, and resident-paid sleeve unit A/C. The main building located on Reading Road includes an elevator. There is ample off-street parking with approximately 33 striped parking spaces, seven garage spots, and an additional parking lot. The Carlton Apartments present an opportunity to add value through management, select unit upgrades, utility management (RUBS implementation), and rent increases to match the market.

The property is centrally-located on Reading Road in the Bond Hill neighborhood of Cincinnati, Ohio, less than 2.0 miles from Interstates 71 and 75 via OH-562 (the Norwood Lateral).
Directions from Downtown Cincinnati: From I-71 North, merge onto OH-562 W via Exit 8B toward Norwood. Follow OH-562 W for approximately 2.3 miles, taking the Reading Rd/US-42 N Exit. Turn slight right onto Reading Road/US-42. The Carlton Apartments will be on your left in approximately 0.2 mile.

Highlights

  • Opportunity to add value through management, select unit upgrades, utility management (RUBS implementation), and rent increases to match the market.
  • Centrally-located with excellent visibility on Reading Road, off of the Norwood Lateral (OH-562). The Norwood Lateral connects Interstates 71 and 75
  • The Carlton contains five buildings and presents an opportunity to parcel off individual buildings for sale at a higher price per unit.
  • A senior community with many long-term residents. Cincinnati' s senior population (55+) is expected to increase by more than 565,000 residents by 2013
  • The main building on Reading Road includes an elevator.

Research

4823 Reading Road, Cincinnati, OH 45237 (Hamilton County)

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