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24 Fernwood Ave 4 Unit Apartment Building $245,000 ($61,250/Unit) 8.27% Cap Rate Dayton, OH 45405
Investment Highlights
- Tenants pay for their own heat and electricity
- Many improvements to the building
- New roof in 2021
- Fully Occupied
Executive Summary
Introducing an exceptional opportunity for Multifamily investors in the Dayton area. This low maintenance all brick 4,500 SF building comprises of four 1-bedroom, four 1-bath apartment units, and offers a solid investment in a thriving market. Built in 1951 and zoned ER-4, the property features 100% occupancy, ensuring immediate returns for savvy investors. With a strategic location and a track record of full occupancy, this investment promises strong rental demand and consistent cash flow. Don't miss your chance to secure a valuable asset in the dynamic Dayton market. Recent improvements include a new roof installed in 2021, four new heat pumps installed in 2023, new floors, new windows and appliances installed in early 2021 in three units, two new water heaters installed in 2026. Tenants pay for their own heat and electricity. Seller self-manages the property. Two parcels: R72 06310 0076, 0077.
Property Facts
| Price | $245,000 | Apartment Style | Garden |
| Price Per Unit | $61,250 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.12 AC |
| Cap Rate | 8.27% | Building Size | 4,500 SF |
| No. Units | 4 | Average Occupancy | 100% |
| Property Type | Multifamily | No. Stories | 2 |
| Property Subtype | Apartment | Year Built | 1951 |
| Zoning | ER-4 - Outlines the regulations for land use and development within the city. | ||
| Price | $245,000 |
| Price Per Unit | $61,250 |
| Sale Type | Investment |
| Cap Rate | 8.27% |
| No. Units | 4 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 0.12 AC |
| Building Size | 4,500 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1951 |
| Zoning | ER-4 - Outlines the regulations for land use and development within the city. |
Amenities
Unit Amenities
- Heating
- Yard
- Basement
- Vinyl Flooring
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 4 | $600.00 | - |
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Fairly walkable
40/100
Moderately drivable
70/100
Limited public transit
30/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | R72-06310-0076 | Improvements Assessment | $41,440 |
| Land Assessment | $3,890 | Total Assessment | $45,330 |
Property Taxes
Parcel Number
R72-06310-0076
Land Assessment
$3,890
Improvements Assessment
$41,440
Total Assessment
$45,330
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24 Fernwood Ave