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The Flats at Wilmington Pike 3217 Wilmington Pike 24 Unit Apartment Building For Sale Dayton, OH 45429
Executive Summary
The Flats at Wilmington Pike offers investors a stabilized, cash-flow opportunity in Kettering, OH, the top-ranked submarket among 21 in the Dayton metro for both rent and rent growth (6.8% year-over-year), with zero new units under construction. The 24-unit, all-studio community is 100% occupied, providing a buyer with banked, de-risked in-place income from day one. Meaningful upside remains in-place rents of $704 sit 18% below the $830 pro forma, achievable through local management efforts lifting stabilized NOI to $120,674; a 29% increase over the trailing figures. Demand is anchored by Wright-Patterson AFB (~38,000 employees) and Kettering Health (~12,000) within a trade area carrying a median household income near $72,000, and a school district that ranks in the top 20th percentile of Ohio districts. The deal can be summarized as a low-execution-risk, yielding investment with a defined path to increased income.
Property Facts
| Sale Type | Investment | Lot Size | 0.99 AC |
| No. Units | 24 | Building Size | 21,664 SF |
| Property Type | Multifamily | Average Occupancy | 37% |
| Property Subtype | Apartment | No. Stories | 3 |
| Apartment Style | Low-Rise | Year Built | 1977 |
| Building Class | C | Parking Ratio | 3.96/1,000 SF |
| Sale Type | Investment |
| No. Units | 24 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.99 AC |
| Building Size | 21,664 SF |
| Average Occupancy | 37% |
| No. Stories | 3 |
| Year Built | 1977 |
| Parking Ratio | 3.96/1,000 SF |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 24 | - | 450 |
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Fairly walkable
50/100
Exceptionally drivable
100/100
Limited public transit
30/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | N64-03405-0007 | Improvements Assessment | $266,720 |
| Land Assessment | $58,590 | Total Assessment | $325,310 |
Property Taxes
Parcel Number
N64-03405-0007
Land Assessment
$58,590
Improvements Assessment
$266,720
Total Assessment
$325,310
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The Flats at Wilmington Pike | 3217 Wilmington Pike
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