425 Mill St - Apartments FOR SALE


Cincinnati, OH 45215- Lockland
$1,995,000 USD
513-513-1300
425 Mill St, Cincinnati, OH for Sale
$1,995,000 USD
Apartments - FOR SALE
1/2
null | 7.39% Cap Rate

425 Mill St
Cincinnati, OH 45215
Lockland


HIGHLIGHTS

  • Very well maintained inside and out
  • Lots of updates to the units and building
  • Strong upside in getting rents to market and lowering current loss to lease in place
  • Low maintenance, management building
  • Currently 1 vacant unit

OVERVIEW

Situated at 425 Mill Street, Lynn Haven House Apartments enjoys a strategic position at the crossroads of Arlington Heights, Reading, and Lockland. Just a stone's throw away from the Reading Bridal District in downtown Reading, this property offers easy access to Interstate 75, enhancing its appeal to potential investors seeking a prime location for their portfolio. The property consists of 30 identical 1 bedroom, 1 bath units. Each unit has tenant paid electric baseboard heat with wall air conditioning. The building is all brick inside and out with tile common areas and metal staircases. There is onsite laundry on the first floor with storage on each floor for tenants. The owner supplies the water/sewer but does have a $40-45 RUBS charge in place for every unit. 25 of the units have had minor to moderate updating with flooring, fixtures, vanities, appliances- with non updated units just being long term tenants. The owner remediated the aluminum wiring in November of 2025. Roofs/windows were completed in the middle 2010's. Currently they have 1 vacant unit being turned for a recent move out. This property does not accept pets, Section 8 or reduced security deposits. The owner has 3 a three property portfolio close to one another that he'd sell together or individually.

FOR SALE DETAILS

PRICE

$1,995,000 USD

PRICE/SF

$128 USD /SF

# OF UNITS

30

PRICE/UNIT

$66,500

CAP RATE

7.39%

% LEASED

97%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Lynn Haven House

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Garden

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1970

PARKING SPACES

30

LAND DETAILS

LAND ACRES

0.89 AC

LAND SF

38,768 SF

ZONING

RM-2.0

APN/PARCEL ID

641-0015-0023

ASK ABOUT THIS PROPERTY

Matthew AmosC.A.P. Real EstateMore Info
513-513-1300

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Matthew AmosC.A.P. Real EstateMore Info
513-513-1300

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