721 E High St
Springfield, OH 45505
Berkley Manor · Multifamily Property For Sale · 15 Units

Charles Hart is please to present Berkley Manor, a 15-unit apartment building located in Springfield, OH. The Berkley Manor was built in 1891 and was once the mansion of W. S. Thomas. Mr. Thomas was a member of one of the leading industrial families of Springfield. He was made treasurer of J.H. Thomas & Sons Manufacturing in 1886, and after his father's death in 1901 became president. He served as president of Mad River National Bank. The property is comprised of 1 residential building and is nestled on 0.60 acres. Berkley Manor consists of 15 units and consists of Studio, One-, and Two-Bedroom units, all of which have a unique layout and floor plan. The units feature a kitchen with refrigerator and range, hardwood floors, a decorative fireplace, vaulted ceilings, as well as an abundance of natural light. Residents are responsible for paying the gas, electric, and water/sewer (via a reimbursement to the owner). The building has interior unit entryways, off-street parking, and a laundry facility for the residents. Berkley Manor provides an excellent opportunity to acquire a stable, well-located asset, with significant upside through improved management and rental rate increases. Current ownership lives an hour away and has not focused on driving higher rents to stay in line with the competing properties which are roughly $75 higher per month. At the Market Rents, there is more than $13,000 worth of loss-to-lease for a new owner to realize simply by improved operations.