The property consists of 5 contiguous brick four family buildings with 4 car garages. There are 20 two bedroom one bath units and occupancy is approximately 50%. Some of the buildings have newer roofs & gutters and some replacement vinyl windows. The heat is paid for by the owner and is provided by gas boilers, there is one boiler in each building. Tenants pay for electric which is separately metered and for cooking gas which is also separately metered. Air conditioning is provided in each unit by through the wall A/C units and the electric is paid by the tenant. All of the units have hardwood floors. All of the kitchens have oak cabinets and all of the bathrooms have tiled floors and tiled tub surrounds. There is deferred maintenance including the replacement of all 10 two car garage doors. Building 3246 is in need of structural repair after a structural beam was vandalized and removed. Most vacant units will need to be made rent ready. Boilers, pipes, electric and water lines have not been vandalized to the best of our knowledge and are in working condition and of course the Buyer must rely on their own inspections and investigation of the property to determine the condition.
Jennifer Donathan, Senior Investment Advisor of KW Commercial is pleased to present for sale Cottonwood Apartments. This is a bank directed receivership sale of 3127 and 3128 Worthington Avenue, 3216, 3224, 3246 Gobel Avenue in Westwood a suburb of Cincinnati. Cottonwood Apartments is centrally located in Cincinnati off of Westwood Northern Boulevard. It is near several shopping centers, minutes from the newly developed Mercy Hospital and it has convenient access to I-75, I-275 & I-74.
