Lynn Haven House 425 Mill St 30 Unit Apartment Building $1,995,000 ($66,500/Unit) 7.39% Cap Rate Cincinnati, OH 45215

Situated at 425 Mill Street, Lynn Haven House Apartments enjoys a strategic position at the crossroads of Arlington Heights, Reading, and Lockland. Just a stone's throw away from the Reading Bridal District in downtown Reading, this property offers easy access to Interstate 75, enhancing its appeal to potential investors seeking a prime location for their portfolio.
The property consists of 30 identical 1 bedroom, 1 bath units. Each unit has tenant paid electric baseboard heat with wall air conditioning. The building is all brick inside and out with tile common areas and metal staircases. There is onsite laundry on the first floor with storage on each floor for tenants. The owner supplies the water/sewer but does have a $40-45 RUBS charge in place for every unit. 25 of the units have had minor to moderate updating with flooring, fixtures, vanities, appliances- with non updated units just being long term tenants. The owner remediated the aluminum wiring in November of 2025. Roofs/windows were completed in the middle 2010's. Currently they have 1 vacant unit being turned for a recent move out. This property does not accept pets, Section 8 or reduced security deposits.
The owner has 3 a three property portfolio close to one another that he'd sell together or individually.