8400-8414 Anthony Wayne Ave - Apartments FOR SALE


Cincinnati, OH 45216- Hartwell
$1,775,000 USD
513-513-1300
8400-8414 Anthony Wayne Ave, Cincinnati, OH for Sale
$1,775,000 USD
Apartments - FOR SALE
1/27
null | Request Cap Rate

8400-8414 Anthony Wayne Ave
Cincinnati, OH 45216
Hartwell


HIGHLIGHTS

  • Strong upside in finishing and renting down units and lowering the in place loss to lease
  • High rental demand area with high occupancy levels across the submarket
  • Massive development and new I-75 interchange being developed 500 yards north of this property in Lockland off Anthony Wayne Avenue
  • Lots of big cap-ex items completed delivering quality units/buildings with minimal required to stabilize the property

OVERVIEW

4804-4814 Anthony Wayne Avenue is consists of 28 total units in 3 separate, adjacent buildings. Comprised of 22 one bedroom units and 6 two bedroom units, the owner supplies boiler heat with wall air conditioning paid by the tenants. The owner also supplies water/sewer. They have full RUBS in place ranging from $40-$70 per month/per unit. Recent improvements from late 2010's include new boilers, roofs, windows, glass block, parking lot (2021), 2 water heaters, and 27 of 28 units have been updated. Ceramic tile or LVP throughout each unit. All brick/block interior and exteriors. There has been a some down units at this property for some time due to several reasons-owner and management issues mainly. Currently there are 5 empty apartments with 3 that need moderate to heavier updating-two are rent ready that will be filled. The vacant units are all 1 bedroom units. The 2 bedroom units haven't had a vacant unit since this current owner purchased the property in fall of 2021. The property does not accept pets, Section 8 or reduced security deposits. The owner has a 3 property portfolio that includes this listing. The owner would sell all of them together or individually.

FOR SALE DETAILS

PRICE

$1,775,000 USD

PRICE/SF

$91 USD /SF

# OF UNITS

28

PRICE/UNIT

$63,393

CAP RATE

Request Cap Rate

% LEASED

82%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Wayne Apartments

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Garden

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1963

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.62 AC

LAND SF

27,007 SF

ZONING

RM-2.0

APN/PARCEL ID

245-0001-0103,245-0001-0106,245-0001-0109

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.