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2615 N Gettysburg Ave 5 Unit Apartment Building $235,000 ($47,000/Unit) 13.08% Cap Rate Dayton, OH 45406
Investment Highlights
- Fully occupied 5-unit apartment building providing immediate and consistent in-place cash flow.
- Individual electric panels and well-maintained mechanicals help limit near-term capital expenses.
- Upside through rent growth and efficient management without major renovations.
- Five separate income streams reduce vacancy risk compared to smaller multifamily assets.
- Located in an established Dayton workforce-housing submarket with strong small-multifamily investor demand.
Executive Summary
2615 N Gettysburg Avenue presents an opportunity to acquire a fully occupied five-unit multifamily investment at an attractive cost of approximately $49,800 per unit.? The property currently generates $3,600 per month in scheduled rent, providing immediate in-place income from the date of acquisition.?
Ownership has completed more than $83,000 in documented capital improvements, including updates to the furnaces, water heaters, windows and other building components.? Each unit has separate gas and electric service, while the property is served by one water meter.? With full occupancy, established rental income and substantial recent improvements already completed, this property offers investors a straightforward addition to an existing portfolio or an accessible entry into multifamily ownership.?
Ownership has completed more than $83,000 in documented capital improvements, including updates to the furnaces, water heaters, windows and other building components.? Each unit has separate gas and electric service, while the property is served by one water meter.? With full occupancy, established rental income and substantial recent improvements already completed, this property offers investors a straightforward addition to an existing portfolio or an accessible entry into multifamily ownership.?
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- Operating and Financials
Property Facts
| Price | $235,000 | Apartment Style | Low-Rise |
| Price Per Unit | $47,000 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.17 AC |
| Cap Rate | 13.08% | Building Size | 3,499 SF |
| Gross Rent Multiplier | 6.99 | Average Occupancy | 100% |
| No. Units | 5 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1963 |
| Property Subtype | Apartment | Parking Ratio | 2.01/1,000 SF |
| Zoning | Multi Family - Multifamily | ||
| Price | $235,000 |
| Price Per Unit | $47,000 |
| Sale Type | Investment |
| Cap Rate | 13.08% |
| Gross Rent Multiplier | 6.99 |
| No. Units | 5 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.17 AC |
| Building Size | 3,499 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1963 |
| Parking Ratio | 2.01/1,000 SF |
| Zoning | Multi Family - Multifamily |
Amenities
Unit Amenities
- Air Conditioning
- Heating
- Refrigerator
- Oven
- Range
Site Amenities
- 24 Hour Access
- Controlled Access
- Tenant Controlled HVAC
- Smoke Free
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 5 | $712.50 | - |
1 1
Fairly walkable
50/100
Exceptionally drivable
100/100
Limited public transit
20/100
Fairly bikeable
40/100
Property Taxes
| Parcel Number | R72-16008-0003 | Improvements Assessment | $33,780 |
| Land Assessment | $8,510 | Total Assessment | $42,290 |
Property Taxes
Parcel Number
R72-16008-0003
Land Assessment
$8,510
Improvements Assessment
$33,780
Total Assessment
$42,290
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