455 Stonyridge Place
Troy, OH 45373 ·
116 Units · Multifamily For Sale
Stonyridge Place Apartments
|Building Size||49,350 SF||No. Stories||1|
|Property Type||Multifamily||Year Built||1980|
|Property Sub-type||Garden/Low-Rise||Lot Size||6.22 AC|
|Property Use Type||Investment|
|Listing ID: 17201904||Date Created: 06/14/2011||Last Updated: 02/29/2012|
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.
- 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
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