Jennifer Donathan of KW Commercial has been retained as the exclusive agent to offer for sale 2654 Harrison Avenue in Cincinnati, Ohio. This is an excellent opportunity to purchase a well maintained asset with value add opportunity. 2654 Harrison Avenue is a twelve unit garden style complex constructed of all brick. The roof is pitched shingle and is about 10-12 years old. The property has a total of 2448 square feet per floor or approximately 450 square feet per unit for a total of 7,344 sf. The projects is comprised of twelve 1 bedroom / 1 bath units. Recent capital improvements include new boiler, new hot water tank, and 8 new balconies.
Utilities:
Each unit is heated by the gas boiler and air is provided by wall a/c units. Tenants have separate electric panel. Tenants pay for electric and owner pays heat, water, and trash.
Parking:
Private parking lot with enough space for 12 cars. The lot is concrete.
Amenities:
The property has a common area laundry room, washer and dryer is seller owned. The property is also on the busline and close to shopping and retail.
Value Add Opportunity:
The property has been well maintained for the last 20 years. With that said, the owner has not raised rents on many tenants for years and continues to lease new tenants at the extremely low rates. Rates for these one bedrooms are lower than studio apartments down the street.
Seller Motivation:
He is a local resident and investor and is retiring. Feel free to ask for details on the rest of his portfolio also being offered for sale.
