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Central Superior 200 Central Ave 42 Unit Apartment Building $1,900,000 ($45,238/Unit) 6.40% Cap Rate Dayton, OH 45406
Investment Highlights
- Recent capex since 2021 including roofs, windows, electrical, and interior upgrades reduces near-term capital needs and improves long-term durability.
- Located near downtown Dayton and major employers including Kettering Health and the University of Dayton, supporting consistent renter demand.
- Value-add potential through lease-up to market occupancy, rent growth on renovated units, and monetizing underutilized garage parking.
Executive Summary
Marcus & Millichap is pleased to present Central Superior, a 42-unit multifamily investment opportunity located at 200 Central Avenue and 333 Superior Avenue in Dayton, Ohio. The property consists of two adjacent brick apartment buildings totaling approximately 17,472 rentable square feet and situated on a 0.46-acre site in the Grafton Hill submarket. With extensive recent capex, in-place income, and value-add opportunities through vacancy reduction, garage income, and implementation of bulk internet programs, Central Superior offers investors a performing asset with meaningful upside in a growing Dayton submarket.
Link to deal vault with OM, financials and RR: https://www.marcusmillichap.com/properties/200059/central-superior
Link to deal vault with OM, financials and RR: https://www.marcusmillichap.com/properties/200059/central-superior
Property Facts
| Price | $1,900,000 | Building Class | C |
| Price Per Unit | $45,238 | Lot Size | 0.46 AC |
| Sale Type | Investment | Building Size | 24,102 SF |
| Cap Rate | 6.40% | No. Stories | 3 |
| No. Units | 42 | Year Built/Renovated | 1967/2022 |
| Property Type | Multifamily | Parking Ratio | 0.5/1,000 SF |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Apartment Style | Low-Rise | ||
| Zoning | MR-5 - Mature Residential | ||
| Price | $1,900,000 |
| Price Per Unit | $45,238 |
| Sale Type | Investment |
| Cap Rate | 6.40% |
| No. Units | 42 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.46 AC |
| Building Size | 24,102 SF |
| No. Stories | 3 |
| Year Built/Renovated | 1967/2022 |
| Parking Ratio | 0.5/1,000 SF |
| Opportunity Zone |
Yes |
| Zoning | MR-5 - Mature Residential |
Amenities
Unit Amenities
- Air Conditioning
- Heating
- Kitchen
- Refrigerator
- Range
- Tub/Shower
Site Amenities
- 24 Hour Access
- Controlled Access
- Courtyard
- Laundry Facilities
- Public Transportation
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 31 | $650.00 | 386 |
| 1+1 | 11 | $750.00 | 501 |
1 1
Walk Score®
Very Walkable (71)
Bike Score®
Very Bikeable (80)
Property Taxes
| Parcel Number | R72-06501-0034 | Improvements Assessment | $100,230 |
| Land Assessment | $24,950 | Total Assessment | $125,180 |
Property Taxes
Parcel Number
R72-06501-0034
Land Assessment
$24,950
Improvements Assessment
$100,230
Total Assessment
$125,180
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Central Superior | 200 Central Ave
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