Aster Court

100 Aster Court, Germantown, OH 45327

PROVEN RENOVATION PLAN:

Aster Court has had two studios and twelve one-bedrooms renovated to push rents. The average effective rent for the unrenovated studios is $505 compared to $600 for the renovated studios. The average effective rent for unrenovated one-bedrooms is $505 compared to $690 for the renovated units. New renovated one-bedroom leases have been at or above $725. The current owners have spent around $8,000 per unit on the renovations. The twenty-two remaining unrenovated units provide an exciting value-add opportunity for an incoming investor.

STRONG SUBMARKET FUNDAMENTALS:

Germantown is a fundamentally strong Dayton submarket for investors. The average household income in the two-mile radius around Aster Court is $84,167 and the median household income is $71,832. The population within a 10-mile radius of Aster Court is 202,434. The median home value within a two-mile radius is $163,689. The median household income and median home value are very similar to Kettering – one of the top submarkets in Dayton ($71,232 and $167,713, respectively).

WELL-MAINTAINED ASSET:

Current ownership has invested around $250,000 into the property since 2021. The improvements include:
 New metal roofs, gutters, and soffits
 Resurfaced parking lot
 New mailboxes
 New Heating/Air units in 15 units
 New hot water heaters in 14 units
 36 new outdoor lights
 New dumpster concrete pad and dumpster
 24 new front doors
 New windows in 14 units
 New waterproof vinyl flooring throughout 14 units
 New stoves and refrigerators in 13 units
 100 privacy trees planted

YEAR BUILT
1967/2022
RENTABLE SQFT
22,200
OCCUPANCY
92%