1917-2011 Sweetbriar Ln - Apartments FOR SALE


Springfield, OH 45505
$3,833,759 USD
937-360-9952
1917-2011 Sweetbriar Ln, Springfield, OH for Sale
$3,833,759 USD
Apartments - FOR SALE
1/9
null | 7.5% Cap Rate

1917-2011 Sweetbriar Ln
Springfield, OH 45505


HIGHLIGHTS

  • Offered at $3,833,759 — 7.50% cap on in-place NOI of $287,532 ($68,460/unit)
  • Delivered 100% leased at closing — a stabilized asset, not a lease-up play
  • Brand-new exterior: seller-funded re-siding of all 56 units (~$200,000), completed before closing — zero deferred envelope capital to the buyer
  • Below-market rents with recent leases signing $850–$950 and clear mark-to-market upside approaching a 9% yield on cost
  • Efficient, uniform asset — 55 of 56 units are two-bed / one-bath, simplifying turns and management
  • Tenant utility reimbursement in place, supporting a healthy operating margin

OVERVIEW

Coldwell Banker Commercial | Heritage is pleased to present Sweetbriar Lane, a 56-unit garden-style apartment community in Springfield, Ohio, offered at $3,833,759 — a 7.50% capitalization rate on in-place income. The community is being delivered fully stabilized and improved. The seller is re-siding the entire property — an approximately $200,000 capital project completed at the seller's cost — and re-leasing units in step with that work, so a buyer takes over a 100%-leased asset with a brand-new building envelope and no deferred exterior capital. Fifty-five of the fifty-six units share a spacious two-bedroom, one-bath floor plan, keeping turns, renovations, and management simple. The income is real and growing. Scheduled rents annualize to $561,648, well above trailing collections, and recent leases have signed between $850 and $950 — establishing clear mark-to-market runway across legacy units still priced below those levels. A buyer acquires a stabilized 7.5% going-in yield with a documented path approaching a 9% yield on cost as rents move to market. Sweetbriar Lane also sits at the center of one of Ohio's most compelling growth stories. In July 2026, Electra selected Springfield for an $850 million advanced-aircraft manufacturing facility expected to create nearly 2,000 jobs — a direct, durable driver of workforce-housing demand in a county of roughly 135,000, anchored along the I-70 corridor between Dayton and Columbus.

FOR SALE DETAILS

PRICE

$3,833,759 USD

PRICE/SF

$65 USD /SF

# OF UNITS

56

PRICE/UNIT

$68,460

CAP RATE

7.5%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Sweetbriar Lane Apartments | 56 Units

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Garden

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1952

PARKING SPACES

-

LAND DETAILS

LAND ACRES

5.45 AC

LAND SF

237,402 SF

ZONING

-

APN/PARCEL ID

34-00700-02111-0001,34-00700-02111-2001,34-00700-02721-4023,34-00700-02721-5019,34-00700-02721-8018

ASK ABOUT THIS PROPERTY

Patrick WilliamsColdwell Banker Commercial | HeritageMore Info
937-360-9952

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Patrick WilliamsColdwell Banker Commercial | HeritageMore Info
937-360-9952

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