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411-415 Grandin Ave 13 Unit Apartment Building For Sale Cincinnati, OH 45246
Investment Highlights
- UNIT RENOVATION STRATEGY: By renovating units upon turns, new ownership can look to increase the average actual rents.
- UTILITY REIMBURSEMENTS: Current ownership is only recuperating 13.65% of the water, sewer, & trash expense at the property.
- PET FEES: The property is currently receiving minimal pet fee income.
- PARKING INCOME: Upgrade parking structures by adding garage doors and either charge residents for parking or rent these spaces as spaces as storage.
- CABLE/INTERNET PACKAGE: If an exclusive contract is implemented, new ownership could increase annual revenue by charging residents a fee.
- STORAGE UNIT INCOME: 413 and 415 Grandin Ave both have 6 storage units available to the residents. Current ownership is not charging residents.
Executive Summary
The Call For Offers Date is Tuesday, April 21st.
This property offers a value-add investment opportunity in the heart of Springdale, only minutes from Interstate 275. This well-located asset benefits from strong surrounding demographics, walkable amenities, and convenient access to major employers.
Please email marianne.taylor@colliers.com for access to the OM, Financials, & Rent Roll.
This property offers a value-add investment opportunity in the heart of Springdale, only minutes from Interstate 275. This well-located asset benefits from strong surrounding demographics, walkable amenities, and convenient access to major employers.
Please email marianne.taylor@colliers.com for access to the OM, Financials, & Rent Roll.
Property Facts
| Sale Type | Investment | Lot Size | 1.08 AC |
| No. Units | 13 | Building Size | 14,636 SF |
| Property Type | Multifamily | Average Occupancy | 100% |
| Property Subtype | Apartment | No. Stories | 2 |
| Apartment Style | Low-Rise | Year Built/Renovated | 1956/2018 |
| Building Class | C | Parking Ratio | 1.41/1,000 SF |
| Zoning | Residential - Residential Multi Family | ||
| Sale Type | Investment |
| No. Units | 13 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 1.08 AC |
| Building Size | 14,636 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built/Renovated | 1956/2018 |
| Parking Ratio | 1.41/1,000 SF |
| Zoning | Residential - Residential Multi Family |
Amenities
Unit Amenities
- Air Conditioning
- Dishwasher
- Washer/Dryer
- Refrigerator
- Carpet
Site Amenities
- Laundry Facilities
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 4 | - | - |
| 2+1 | 8 | - | - |
| 3+1 | 1 | - | - |
1 1
Moderately walkable
60/100
Exceptionally drivable
100/100
Limited public transit
30/100
Fairly bikeable
40/100
Property Taxes
| Parcel Numbers | Improvements Assessment | $221,564 | |
| Land Assessment | $33,761 | Total Assessment | $255,325 |
Property Taxes
Parcel Numbers
Land Assessment
$33,761
Improvements Assessment
$221,564
Total Assessment
$255,325
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411-415 Grandin Ave
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