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Williamsburg Place Apartments 1515 Gummer Ave 23 Unit Apartment Building $1,430,000 ($62,174/Unit) Dayton, OH 45403
Investment Highlights
- Well-maintained asset with over 30 years of current ownership
- Desirable one- and two-bedroom unit mix, including 9 townhomes with garages and individual HVAC systems, supporting strong tenant demand
- Clear renovation value-add opportunity with below-market rents and ability to drive income through interior upgrades and operational improvements
- Recent improvements include new roof on 1524 (2023), fully updated HVAC (2019), new parking lot (2016), electrical panels (2013), and windows (2010)
Executive Summary
Marcus & Millichap is pleased to present Williamsburg Place Apartments, a 23-unit multifamily investment opportunity located at 1515 Gummer Avenue and 607 Claremont Avenue in Dayton, Ohio within Montgomery County. The property is comprised of four two-story brick buildings situated across two parcels, offering a well-maintained apartment in the Eastern Hills submarket. Constructed in 1952, the asset totals approximately 17,950 rentable square feet and features a mix of one- and two-bedroom units, including townhome-style floorplans.
Williamsburg Place is currently operating at 91% occupancy with an average effective rent of approximately $861, providing a clear value-add opportunity through lease-up and continued rent growth toward projected market levels. The property benefits from individual HVAC systems installed in 2019, off-street and garage parking, and long-term ownership, supporting operational stability and upside potential. The asset is well positioned in the Eastern Hills submarket, with close proximity to the University of Dayton, Wright-Patterson Air Force Base, and major retail corridors, benefiting from stable renter demand, affordability, and ongoing reinvestment in the surrounding area.
Deal vault link to view OM, RR and T12: https://www.marcusmillichap.com/properties/202652/williamsburg-place
Williamsburg Place is currently operating at 91% occupancy with an average effective rent of approximately $861, providing a clear value-add opportunity through lease-up and continued rent growth toward projected market levels. The property benefits from individual HVAC systems installed in 2019, off-street and garage parking, and long-term ownership, supporting operational stability and upside potential. The asset is well positioned in the Eastern Hills submarket, with close proximity to the University of Dayton, Wright-Patterson Air Force Base, and major retail corridors, benefiting from stable renter demand, affordability, and ongoing reinvestment in the surrounding area.
Deal vault link to view OM, RR and T12: https://www.marcusmillichap.com/properties/202652/williamsburg-place
Property Facts
| Price | $1,430,000 | Apartment Style | Garden |
| Price Per Unit | $62,174 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.97 AC |
| No. Units | 23 | Building Size | 17,950 SF |
| Property Type | Multifamily | No. Stories | 2 |
| Property Subtype | Apartment | Year Built | 1952 |
| Price | $1,430,000 |
| Price Per Unit | $62,174 |
| Sale Type | Investment |
| No. Units | 23 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 0.97 AC |
| Building Size | 17,950 SF |
| No. Stories | 2 |
| Year Built | 1952 |
Amenities
Unit Amenities
- Air Conditioning
- Cable Ready
- Washer/Dryer Hookup
- Heating
- Kitchen
- Refrigerator
- Oven
- Range
Site Amenities
- 24 Hour Access
- Tenant Controlled HVAC
- Public Transportation
- Walk-Up
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 2 | $748.00 | 650 |
| 2+1 | 21 | $921.00 | 750 - 850 |
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Moderately walkable
60/100
Very drivable
80/100
Limited public transit
30/100
Fairly bikeable
50/100
Property Taxes
| Parcel Numbers | Improvements Assessment | $190,560 | |
| Land Assessment | $52,530 | Total Assessment | $243,090 |
Property Taxes
Parcel Numbers
Land Assessment
$52,530
Improvements Assessment
$190,560
Total Assessment
$243,090
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