633 West Grand Avenue
Dayton, OH 45406 ·
69 Units · Multifamily For Sale
|Price||N/A||Property Use Type||Investment|
|Building Size||30,000 SF||Cap Rate||11%|
|Listing ID: 16872562||Date Created: 10/14/2010||Last Updated: 12/14/2010|
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.
- Very clean, well maintained property
- Tremendous cash flow potential/upside
- All brick interiors/exteriors
- New windows, parking lots and roofs
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