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7159 Eastlawn Dr
Cincinnati, OH 45237
UNDER CONTRACT · Multifamily Property For Sale
·
16 Units
PROPERTY FACTS
| No. Units | 16 | Building Size | 10,444 SF |
| Property Type | Multifamily | Average Occupancy | 50% |
| Property Subtype | Apartment | No. Stories | 3 |
| Apartment Style | Low-Rise | Year Built | 1947 |
| Building Class | C | Parking Ratio | 0.77/1,000 SF |
| Lot Size | 0.24 AC | ||
| Zoning | RM12 | ||
| No. Units | 16 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.24 AC |
| Building Size | 10,444 SF |
| Average Occupancy | 50% |
| No. Stories | 3 |
| Year Built | 1947 |
| Parking Ratio | 0.77/1,000 SF |
| Zoning | RM12 |
ABOUT 7159 EASTLAWN DR , CINCINNATI, OH 45237
Jennifer M. Donathan, Senior Investment Advisor at KW Commercial is pleased to present for sale a Value Add Opportunity. The sale is subject to approval by the City of Cincinnati. Sale terms must be cash and sold in "as-is" condition NO EXCEPTIONS. The offering consists of two contiguous brick buildings, identical in construction. One building consists of nine 1 bedroom units and the other building consists of five 1 bedroom units and two 3 bedroom/2 bath units. Heat is provided by a gas boiler. Tenants pay their own electric and owner pays heat, water and trash. Each building has a four car built in rear garage for a total of eight garages and an additional ten parking spaces are available in the private rear lot. The property is has an interim management company that has been hired to stabilize the property and keep the maintenance until closing. The current management would consider staying on for the new owner. Both buildings have a significant amount of deferred maintenance however there is no written cost estimate available, Buyer must see property and determine their own estimate. The projected NOI is based on current market rents, 10% vacancy and 50% expense ratio, assuming the property is stabilized with most deferred maintenance items & capital improvements made by Buyer.
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 14 | $495.00 | 500 |
| 3+2 | 2 | $800.00 | 1,000 |
PROPERTY TAXES
| Parcel Number | 117-0012-0140 | Improvements Assessment | $77,746 |
| Land Assessment | $21,420 | Total Assessment | $99,166 |
PROPERTY TAXES
