670 High St 4 Unit Apartment Building Offered at $550,137 at a 6.55% Cap Rate Waynesville, OH 45068

6.55% Current CAP | Approx. 8.80% Pro Forma CAP | Fully Occupied | Below-Market Rents
Rare opportunity to acquire a fully occupied, all-brick four-unit apartment building in one of Southwest Ohio's strongest rental markets.
Investment Highlights
• Approx. 6.55% Current CAP
• Estimated 8.80% Pro Forma CAP
• Current Gross Income: $47,640 annually
• Estimated Market Gross Income: Approximately $60,000 annually
• Brand-New Roof (June 2026)
• Tenants pay electric, gas, water, sewer and trash
• Lawn care and snow removal currently handled by a tenant
• Four spacious 2-bedroom / 1-bath apartments (approximately 750-800 SF each)
• Solid all-brick construction
• Historically strong occupancy
• Rare multifamily opportunity in Waynesville
Current rents remain below market, providing investors with a compelling value-add opportunity through future rental growth. The combination of stable in-place income, limited owner responsibilities, recent capital improvements, and significant rental upside makes this an exceptional investment opportunity for buyers seeking both immediate cash flow and long-term appreciation.