Northmarq is pleased to present The Gateway Flats at Manhattan Harbour, a unique opportunity to acquire an 76-unit luxury community located in dynamic Dayton, KY (Cincinnati, OH MSA). Steps away from the Ohio River with inspiring views of Downtown Cincinnati, Gateway Flats is one of Northern Kentucky’s most upscale suburban multifamily communities with a balanced mix of 1- and 2-bed floorplans, best-in-class finishes, coupled with an unrivaled amenities package – including a rooftop terrace, fitness center, secured garage parking, tenant lounge, grilling stations, fire pit, co-working space and more.
Built in 2020, Gateway Flats has been owned / operated by the original developer. Built in 2020, Gateway Flats has been owned / operated by the original developer offering immense operational upside by bringing rent levels in-line with the top competitors in the area. Asset is located within 3 miles of Cincinnati’s CBD with over 160,000 jobs including 8 Fortune 500 companies and well-positioned for new ownership to streamline operations and realize immediate revenue growth. Each unit showcases high-end interior finishes including wood-look flooring, quartz countertops, open concept layouts, in-unit washer/dryer, and private balconies / river views in select units.
Gateway Flats is ideally situated within 1 mile of I-471, offering seamless transportation to both Downtown Cincinnati and Northern Kentucky. The asset benefits from excellent visibility and provides direct access to Northern Kentucky and Cincinnati’s top-rated schools, premier retailers, major employers, entertainment venues and key economic drivers. Gateway Flats benefits from the supply-constrained submarket with no units under construction, while achieving 3.45% year-over-year rent growth, 96.1% occupancy and is an A rated suburb – positioning the asset for durable long-term performance.