Historical Multifamily Sale Listing - Stonyridge Place Apartments

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Stonyridge Place Apartments

455 Stonyridge Place, Troy, OH 45373

N/A

116 Units | Multifamily

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Multifamily Property - Off Market

Price:
N/A
No. Units:
116
Building Size:
49,350 SF
Property Type:
Multifamily
Property Sub-type:
Garden/Low-Rise
Property Use Type:
Investment
Cap Rate:
9.60%
Occupancy:
93%
No. Stories:
1
Year Built:
1980
Lot Size:
6.22 AC
Listing ID
17201904
Last Updated
over 1 year ago

Highlights

  • Property includes 60 20X10 storage garages
  • Rental upside
  • Good condition inside and out
  • Owner willing to carry secondary financing for qualified buyer
  • 1/2 mile from Troy High School

Description

Marcus and Millichap is pleased to offer Stonyridge Place Apartments located in Troy, Ohio. Stonyridge is a Cardinal style complex comprised of 56 total units with 14 efficiencies, 35 one-bedroom units and seven two-bedroom units. The property also includes sixty 10 by 20 storage units that currently rent for $65.00 per month.

Each unit comes with wall to wall carpet, fully equipped kitchens, electric heat and air provided by a wall unit, ample off street parking and private patios. The owner pays water and trash, while the tenants pay their own heat and air. The property is ideally located just a minute drive from downtown Troy and Troy High School. The property provides tremendous cash flow along with upside through lowering the existing loss to lease estimated at $20,000 per year.

Troy, Ohio, is located just 25 minutes north of Dayton, Ohio, and is home to the well known Troy Strawberry Festival. The city of Troy has a reputation for being a family friendly, vibrant and financially stable community. As of 2010 the population of Troy was 25,058 and continuing to grow.

Map of 455 Stonyridge Place, Troy, OH 45373 (Miami County)

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