75 Unit North Cincinnati Portfolio
North Cincinnati 3 Property Porftolio | 75 Units
Marketing description
Discover a very well upkept portfolio with great operational upside.
Lynn Haven House Apartments, a meticulously maintained property featuring 30 identical one bedroom, one bath units. The owner provides water and gas heat, while tenants cover their own electric bills. With a gas boiler for heat and wall air conditioning, the property also offers a convenient on-site coin-operated laundry. 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.
• 4804-4814 Anthony Wayne Avenue is consists of 28 total units in 3 separate 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. Recent improvements include new boilers, 2 roofs, windows, parking lot (2021), 2 water heaters, and 27 of 28 units have been updated. LVP and porcelain tile throughout each unit. Strong property in strong rental market in tremendous condition that will only get better as the market continues to harden. This property is located about 1 mile East of Lynn Haven and 717 Elliot Avenue.
• 717-719 Elliot Avenue is situated down the street from Lynn Haven Apartments. Comprised of 17 total units with 11 one bedroom units and 6 two bedroom units, the owner supplies the heat, water and trash while the tenants pay their own electric and cable. The heat is supplied by a hot water boiler with air conditioning supplied by wall sleeves. Off street parking is available. Low maintenance, low management investment in strong rental market location right on the border of 4 submarkets of Arlington Heights, Reading, Wyoming and Lockland.
Investment highlights
-Very strong operation upside-not a need or huge amount of capital needed to get this property fully stabilized.
-75 total units in three all brick/block buildings located within down the street from one another.
-Significant updating and work completed including roofs, windows, boilers, water heaters, parking lots, and aluminum wiring remediation.
-Low maintenance properties with all brick interiors/exteriors, tile flooring, and metal staircases.
-Every unit has RUBS charge in place for water, sewer, or gas heat
-Tenants pay their own electric air and stove/oven.
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