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2603 Fleetwood Avenue
Cincinnati, OH 45211 ·

209 Units · Multifamily For Sale

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LaFeuille Apartments

Price N/A Cap Rate 9.66%
No. Units 209 Occupancy 79%
Building Size 203,094 SF No. Stories 3
Property Type Multifamily Year Built 1974
Property Sub-type Garden/Low-Rise Lot Size 16.74 AC
Property Use Type Investment APN / Parcel ID 208-0065-0001
Listing ID: 16775533 Date Created: 07/28/2010 Last Updated: 10/06/2011

Description

209 units with highly visible location in Westside of Cincinnati with convenient access to Interstate 75 as well as nearby grocery, retail and restaurants on Glenway Avenue.
Built in two phases, the property features a mix of 204 garden-style units and 5 townhomes; Phase I features 113 2- and 3-bedroom units with master gas boiler heat and thru-wall A/C. The six Phase I buildings have flat rubber roofs, brick exteriors and single-pane aluminum windows. Phase II features 96 2- and 3-bedroom units with individual electric forced-air furnaces and central A/C. The 10 Phase II buildings have pitched roofs with asphalt shingles, brick exteriors and single-pane aluminum windows.
Additional features include W/D hookups in some units, laundry facilities, new picnic areas in 2010, ample green space, fully-equipped kitchens with electric range, frost-free refrigerator, garbage disposal and dishwasher and private patios or balconies. Property has 299 open surface parking spaces.
The property is being sold by the heirs of the original developer and is available for purchsae with the Mayridge Apartments, 108 units located at 3179 Mayridge Court, Cincinnati, OH 45211.

The LaFeuille Apartments are located at 2603 Fleetwood Avenue in a west submarket of Cincinnati, just south of Interstate 74 with easy access to Interstates 75 and 275 via Queen City Avenue. The property sits approximately six miles northwest of downtown Cincinnati in the neighborhood of Westwood with excellent visibility and exposure to drive-by rental traffic. Westwood' s main thoroughfares are Werk Road and Harrison, Boudinot, Glenway and Queen City Avenues. Sitting on a two-mile stretch of Glenway, at the convenience of LaFeuille residents, is the Western Hills retail trade area, including the Ferguson, Glenway Crossing and Western Hills Shopping Centers.

Highlights

  • Owner will consider secondary financing for qualified investors
  • Highly-visible location with exposure to drive-by rental traffic
  • Mix of townhomes and garden-style units with spacious floor plans
  • Property offers two separate price points for renters based on property phases (113 untis have individual HVAC and 96 units have master heat)
  • Opportunity to implement RUBS allocations for water and sewer

Research

2603 Fleetwood Avenue, Cincinnati, OH 45211 (Hamilton County)

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