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Fairfield Square 2 Multifamily Properties in Fairfield, OH
Investment Highlights
- Land Development or Add Amenities: an adjacent 0.639-acre parcel zoned R-O PUD allows for development of additional units or an amenity.
- Low Real Estate Tax Rate: effective RE tax rates of approximately 1.96% on the multifamily component and 1.33% on the townhome units.
- Free & Clear Offering: The property is being offered free and clear of existing debt, providing investors with maximum flexibility.
- Unit Renovation Strategy: 14 units are renovated & achieving higher rents compared to the 6 partially renovated units & the 4 non renovated units.
- Limited Townhome Supply: limited supply of comp rental THs in the Fairfield submarket, with only one direct comp property offering 2 bed 1.5 bath THs.
- Washer/Dryer Income: Installing in-unit washers and dryers presents a clear value-add opportunity to increase rental rates and enhance resident appeal
Executive Summary
Colliers is pleased to present Fairfield Square, a 24-unit multifamily community comprised of 12 townhome-style residences and 12 flat units, ideally located in Fairfield, Ohio. The offering also includes an additional 0.639-acre adjacent parcel zoned R-O PUD, providing a valuable opportunity for future expansion, whether through additional townhome units, a supplementary multifamily building, or the creation of enhanced on-site amenities.
Fairfield Square represents a compelling value-add investment opportunity with proven upside through continued interior renovations. Recently upgraded units are achieving notable rent premiums over classic and partially renovated units, offering a clear pathway for a new owner to implement a targeted renovation strategy and drive meaningful rental growth.
Beyond the asset-level upside, the property benefits from its location in Fairfield, a highly desirable submarket within Greater Cincinnati, known for its economic stability and strong demand fundamentals. Notably, the investment is further supported by exceptionally favorable real estate tax exposure, with an effective tax rate of approximately 1.96% on the multifamily component and just 1.33% on the townhome units, providing a distinct advantage relative to competing assets in the region.
Additional revenue growth opportunities exist through operational enhancements, including the installation of in-unit washers and dryers and the implementation of a bulk cable and internet program, both of which can generate incremental income while enhancing the overall resident experience.
Fairfield Square represents a compelling value-add investment opportunity with proven upside through continued interior renovations. Recently upgraded units are achieving notable rent premiums over classic and partially renovated units, offering a clear pathway for a new owner to implement a targeted renovation strategy and drive meaningful rental growth.
Beyond the asset-level upside, the property benefits from its location in Fairfield, a highly desirable submarket within Greater Cincinnati, known for its economic stability and strong demand fundamentals. Notably, the investment is further supported by exceptionally favorable real estate tax exposure, with an effective tax rate of approximately 1.96% on the multifamily component and just 1.33% on the townhome units, providing a distinct advantage relative to competing assets in the region.
Additional revenue growth opportunities exist through operational enhancements, including the installation of in-unit washers and dryers and the implementation of a bulk cable and internet program, both of which can generate incremental income while enhancing the overall resident experience.
Property Facts
| Sale Type | Investment or Owner User | Individually For Sale | 0 |
| Status | Active | Total Building Size | 24,912 SF |
| Number of Properties | 2 | Total Land Area | 1.14 AC |
| Sale Type | Investment or Owner User |
| Status | Active |
| Number of Properties | 2 |
| Individually For Sale | 0 |
| Total Building Size | 24,912 SF |
| Total Land Area | 1.14 AC |
Properties
| Property Name / Address | Property Type | Size | Year Built | Individual Price |
|---|---|---|---|---|
|
Fairfield Square
2090 Woodtrail Dr, Fairfield, OH 45014 |
Multifamily | 12,840 SF | 1985 | - |
| 2080 Woodtrail Dr, Fairfield, OH 45014 | Multifamily | 12,072 SF | 1984 | - |
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