Description
INVESTMENT HIGHLIGHTS
Marcus & Millichap is pleased to present Concord Square, 54-units of Cardinal Construction on the East side of Cincinnati in the submarket of Williamsburg. The current owner has addressed multiple deferred maintenance items from new metal roofs and patio fences, to waterproofing the crawl spaces. An incoming investor can continue the rental increase the current owner has been highly successful with through modest unit upgrades on turns. With limited supply available in the submarket the renter demand is high enabling the leasing and management staff to be efficient with showings and leasing activity.
LIMITED SUPPLY AVAILABLE
Williamsburg is home to roughly 2,500 residents but the area only offers roughly 230 market rate rental units with only an additional 167 units proposed in the development pipeline within a 12 mile radius. The current owner has been able increase rents due to the lack of supply proving out rental upside and creating roughly 12.5% of loss to lease on the current rent roll.
Listing Details
| Price: | $Market Bid |
|---|---|
| Address: | 113 Concord Square |
| City: | Williamsburg |
| State: | Ohio |
| Year Built: | 1985 |