Marcus & Millichap is pleased to present Wilmington Apartments, an 84-unit multifamily investment opportunity located at 805–819 Wilmington Avenue in Dayton, Ohio within Montgomery County. The property is comprised of two three-story brick buildings situated across two parcels, offering a well-maintained asset in the Shroyer Park submarket. Constructed in 1962, the property totals approximately 42,000 rentable square feet and features a 100% one-bedroom unit mix with efficient layouts.
Wilmington Apartments is currently operating at approximately 90% occupancy with average effective rents around $809, providing a clear value-add opportunity through interior renovations, lease-up, and the implementation of a RUBS program. The property currently includes all utilities in rent, creating immediate upside through expense recapture and additional income streams such as bulk internet and laundry. The asset benefits from long-term ownership, recent capital improvements, and a highly accessible location adjacent to Kettering and Oakwood, with close proximity to the University of Dayton, Downtown Dayton, and Wright-Patterson Air Force Base, supporting stable renter demand and long-term growth.
Link to deal vault with OM, rent roll and financials: https://www.marcusmillichap.com/properties/202663/wilmington-apartments