Coldwell Banker Commercial | Heritage is pleased to present Hepburn Apartments, a 16-unit, two-building multifamily investment offering exceptional value-add upside in the Dayton MSA. Located at 2271 & 2275 Hepburn Avenue, the property features an efficient, 100% one-bedroom unit mix that serves the market's deepest and most durable pool of rental demand. Currently 44% occupied, Hepburn hands an incoming investor a clear, executable path to stabilization. Five units were fully renovated in 2025, cutting near-term capital needs and positioning the vacant inventory for immediate lease-up. Income is anchored by government-backed rental subsidies — Section 8, Miami Valley Housing, and Eastway — with subsidized units achieving $740–$765 per month, delivering reliable, recession-resistant cash flow as occupancy is restored. Critically, the upside is underwritten by performance, not projection: in 2024 the asset generated approximately $36,800 in net operating income. Restored to a stabilized ~95% occupancy at a conservative blended rent of $700, Hepburn is projected to produce a stabilized NOI of $55,352 — a stabilized yield exceeding 10% at the offering price, with a stabilized value indication north of $600,000. At roughly $34,300 per door, the basis sits below both replacement cost and stabilized value, and that spread is the investor's return for executing a straightforward lease-up.