509 Kellie Dr, Urbana, OH 43078 For Sale

For more information please visit https://www.chmultifamily.com/listings-overview/urbana or contact Cam Seecamp at 614-271-8922

Charles Hart Multifamily Group is pleased to present Urbana 30, a 30-unit apartment community located in Urbana, Ohio. Built in 2007, the property consists of thirty freestanding, single-story residential buildings situated across 5.39 acres. Urbana 30 provides an excellent opportunity to acquire a stable, well-located asset, with very little deferred maintenance and upside potential through continued unit renovations, increased rents, and improved management.

Urbana 30 is comprised entirely of spacious three-bedroom, one-bathroom single-level apartment homes, each offering approximately 1,144 square feet of living space. The community’s unique layout of detached units provides residents with the privacy and feel of single family living while maintaining the operational efficiency of a multifamily asset. Renovated units feature modern interiors including updated cabinetry, vinyl plank flooring, updated exterior doors, and refreshed finishes throughout.

Each residence offers generous living space with functional floor plans designed to accommodate families and long-term residents. Additional interior and exterior features include washer/dryer hookups, spacious walk-in closets, a back patio, and a fully equipped kitchen with an electric stove, refrigerator, and range hood. The units are all electric, which the tenants are responsible for paying. The tenant also pays for water/sewer and trash removal is provided through the city.

Urbana 30 presents a compelling value-add opportunity for a new owner to further enhance operations and capture rental upside. The five most recent leases were signed at $1,400 per month, approximately $160 above the property-wide average rent. This gap represents more than $52,000 in annual loss-to-lease that can be realized through natural lease turnover and continued renovation efforts. Additionally, current ownership has invested significantly in capital improvements over the past three years, replacing the majority of HVAC systems and water heaters across the community.

The property is conveniently located in Urbana, the county seat of Champaign County. Urbana sits within 45 miles of both Columbus and Dayton and just 20 minutes north of Springfield, providing residents access to employment opportunities across two larger metropolitan areas while maintaining the affordability and lifestyle benefits of a smaller community. Local employers include major manufacturing and industrial companies such as Rittal Corporation, Honeywell Aerospace, KTH Parts, and ORBIS Corporation, while nearby Springfield provides additional employment drivers in healthcare, logistics, and manufacturing.