This Multifamily Property is Off-Market.

633 West Grand Avenue
Dayton, OH 45406 ·

69 Units · Multifamily For Sale

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Grandview Apartments

Price N/A Property Use Type Investment
No. Units 69 Distressed Yes
Building Size 30,000 SF Cap Rate 11%
Property Type Multifamily Occupancy 43%
Property Sub-type Garden/Low-Rise
Listing ID: 16872562 Date Created: 10/14/2010 Last Updated: 12/14/2010

Description

SELLER MUST SELL QUICKLY! PRICE REDUCED $250,000! Owner willing to master lease $4000 per month for 6 months.

Grandview Apartments is a 69 unit complex comprised of 9 studios and 57 one bedroom/one bath units and 3 two bedroom units. Situated just 1/2 mile from Interstate 75 and downtown Dayton, the property is currently 64% occupied. The hot water boiler heat and water are supplied by the owner and each unit is cooled by electric wall AC sleeves, tenant paid. Recent capital improvements include new flat rubber roofs, parking lots and windows. The buildings are solid, all brick structures that require little upkeep. The property presents a tremendous value add play for a new investor that is able to stabilize occupancy and rents, at which time will yield close to a 30% cash on cash return. Owner financing is available for qualified buyers.

The subject property is located at 633-645 West Grand Avenue in Dayton, Ohio.

Highlights

  • Very clean, well maintained property
  • Tremendous cash flow potential/upside
  • All brick interiors/exteriors
  • New windows, parking lots and roofs

Research

633 West Grand Avenue, Dayton, OH 45406 (Montgomery County)

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