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75 Units North Cincinnati Portfolio 3 Multifamily Properties Offered at $5,100,000 in Cincinnati, OH



Investment Highlights
- 3 property portfolio-blocks from one another in strong rental markets
- Strong upside in owner with better management economies of scale
- Lots of updates completed across all three properties
- Solid, low maintenance all brick/block buildings
- Low vacancy submarket with strong demand
- Water/sewer/gas RUBS across every unit
Executive Summary
Lynn Haven House is comprised of 30 identical one bedroom, one bath units. Each unit comes with tenant paid electric baseboard heat with wall A/C-owner provides water, sewer and trash with RUBS in place on every unit. 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. Don't miss out on this exceptional opportunity to capitalize on the thriving real estate market in this sought-after area.
• 8400-8414 Anthony Wayne Avenue consists of 28 total units in 3 separate buildings. Comprised of 22 one-bedroom units and 6 two-bedroom units, the owner supplies boiler heat with wall air conditioning paid by the tenants. The owner also supplies water/sewer. Recent improvements include new boilers, 2 roofs, windows, parking lot (2021), 2 water heaters, and 27 of 28 units had moderate updating. LVP flooring and porcelain tile throughout each unit. Strong property in strong rental market in great overall condition that will only get better as the market continues to harden. This property is located about 1 mile East of Lynn Haven and Elliot Avenue.
• 717-719 Elliot Avenue is situated down the street from Lynn Haven Apartments. Comprised of 17 total units with 11 one-bedroom units and 6 two-bedroom units, the owner supplies the heat, water and trash while the tenants pay their own electric and cable. 100% RUBS in place. The heat is supplied by a hot water boiler with air conditioning supplied by wall sleeves. Off street parking is available. Low maintenance, low management investment in strong rental market location right on the border of 4 submarkets of Arlington Heights, Reading, Wyoming and Lockland.
• 8400-8414 Anthony Wayne Avenue consists of 28 total units in 3 separate buildings. Comprised of 22 one-bedroom units and 6 two-bedroom units, the owner supplies boiler heat with wall air conditioning paid by the tenants. The owner also supplies water/sewer. Recent improvements include new boilers, 2 roofs, windows, parking lot (2021), 2 water heaters, and 27 of 28 units had moderate updating. LVP flooring and porcelain tile throughout each unit. Strong property in strong rental market in great overall condition that will only get better as the market continues to harden. This property is located about 1 mile East of Lynn Haven and Elliot Avenue.
• 717-719 Elliot Avenue is situated down the street from Lynn Haven Apartments. Comprised of 17 total units with 11 one-bedroom units and 6 two-bedroom units, the owner supplies the heat, water and trash while the tenants pay their own electric and cable. 100% RUBS in place. The heat is supplied by a hot water boiler with air conditioning supplied by wall sleeves. Off street parking is available. Low maintenance, low management investment in strong rental market location right on the border of 4 submarkets of Arlington Heights, Reading, Wyoming and Lockland.
Data Room Click Here to Access
Taxes & Operating Expenses (Pro Forma - 2027) Click Here to Access |
Annual |
|---|---|
| Gross Rental Income |
$99,999
|
| Other Income |
$99,999
|
| Vacancy Loss |
$99,999
|
| Effective Gross Income |
$99,999
|
| Taxes |
-
|
| Operating Expenses |
-
|
| Total Expenses |
$99,999
|
| Net Operating Income |
$99,999
|
Taxes & Operating Expenses (Pro Forma - 2027) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Other Income | |
|---|---|
| Annual | $99,999 |
| Vacancy Loss | |
|---|---|
| Annual | $99,999 |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Taxes | |
|---|---|
| Annual | - |
| Operating Expenses | |
|---|---|
| Annual | - |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
Property Facts
| Price | $5,100,000 | Number of Properties | 3 |
| Price / SF | $106.90 / SF | Individually For Sale | 0 |
| Cap Rate | 7% | Total Building Size | 47,709 SF |
| Sale Type | Investment | Total Land Area | 1.81 AC |
| Status | Active |
| Price | $5,100,000 |
| Price / SF | $106.90 / SF |
| Cap Rate | 7% |
| Sale Type | Investment |
| Status | Active |
| Number of Properties | 3 |
| Individually For Sale | 0 |
| Total Building Size | 47,709 SF |
| Total Land Area | 1.81 AC |
Properties
| Property Name / Address | Property Type | Size | Year Built | Individual Price |
|---|---|---|---|---|
|
Wayne Apartments
8400-8414 Anthony Wayne Ave, Cincinnati, OH 45216 |
Multifamily | 19,593 SF | 1963 | - |
|
Lynn Haven House
425 Mill St, Cincinnati, OH 45215 |
Multifamily | 15,546 SF | 1970 | - |
|
Arlington Heights/Lockland
717-719 Elliott Ave, Cincinnati, OH 45215 |
Multifamily | 12,570 SF | 1963 | - |
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75 Units North Cincinnati Portfolio
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