440-474-2269
1515 Gummer Ave, Dayton, OH for Sale
Apartments - FOR SALE
1/20
null | Request Cap Rate

1515 Gummer Ave
Dayton, OH 45403
Eastern Hills


HIGHLIGHTS

  • Well-maintained asset with over 30 years of current ownership
  • Clear renovation value-add opportunity with below-market rents and ability to drive income through interior upgrades and operational improvements
  • Desirable unit mix with one- and two-bedroom layouts, including 9 townhomes with garages and individual HVAC, supporting strong tenant demand
  • Recent investments include roof replaced (2023), HVAC updated (2019), parking lot replaced (2016), electrical panels (2013), and windows (2010).

OVERVIEW

Marcus & Millichap is pleased to present Williamsburg Place Apartments, a 23-unit multifamily investment opportunity located at 1515 Gummer Avenue and 607 Claremont Avenue in Dayton, Ohio within Montgomery County. The property is comprised of four two-story brick buildings situated across two parcels, offering a well-maintained apartment in the Eastern Hills submarket. Constructed in 1952, the asset totals approximately 17,950 rentable square feet and features a mix of one- and two-bedroom units, including townhome-style floorplans. Williamsburg Place is currently operating at 91% occupancy with an average effective rent of approximately $844, providing a clear value-add opportunity through lease-up and continued rent growth toward projected market levels. The property benefits from individual HVAC systems installed in 2019, off-street and garage parking, and long-term ownership, supporting operational stability and upside potential. The asset is well positioned in the Eastern Hills submarket, with close proximity to the University of Dayton, Wright-Patterson Air Force Base, and major retail corridors, benefiting from stable renter demand, affordability, and ongoing reinvestment in the surrounding area. Link to deal vault with OM, RR and T12: https://www.marcusmillichap.com/properties/202652/williamsburg-place

FOR SALE DETAILS

PRICE

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# OF UNITS

23

CAP RATE

Request Cap Rate

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Williamsburg Place Apartments

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Garden

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1952

PARKING SPACES

12

LAND DETAILS

LAND ACRES

0.97 AC

LAND SF

42,253 SF

ZONING

-

APN/PARCEL ID

R72-04303-0057,R72-04304-0003

ASK ABOUT THIS PROPERTY

Jordan DickmanMarcus & MillichapMore Info
440-474-2269

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Jordan DickmanMarcus & MillichapMore Info
440-474-2269

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.