Description
Marcus & Millichap is pleased to present Dayton 45, a scattered-site, multifamily portfolio located in the Grafton Hill, Fairview, and Westwood-Montgomery submarkets of Dayton. The portfolio consists of 10 studios and 35 1-bedroom, 1 bathroom units. All three of the assets have received significant capital improvements ranging from all new bathrooms and kitchens to new roofs and HVAC systems. The portfolio is fully turnkey and offers strong in place cash flow as well as a modest rental increase.
Submarket Highlights
Excellent connectivity as the area sits minutes away from I-75, US-35, and downtown Dayton’s amenities
Rental rates on average grew 6.8% over the last 12 months across the submarkets
Average occupancy in the submarkets is 96.8%
Competitive Interior Upgrades
Multiple apartment communities in the submarket have recently undergone interior renovations in recent years resulting in significant rental increases. This portfolio offers an investor to acquire an asset that is located in an area with proven rental upside in the market.
Unit Upgrades
Since 2013, units are received upgrades with two different approaches: Light Renovation or Extensive Renovation
Light Renovations entail:
Refaced kitchen cabinets
New kitchen appliances (White or Black)
LVP flooring
Extensive Renovations entail:
New kitchen cabinets
New kitchen appliances (Stainless Steel)
Stone/Tile Backsplash in Kitchen
Tile Tub Surround
LVP Flooring
New paint
New Bathroom Vanity
Listing Details
| Price: | $Market Bid |
|---|---|
| Address: | Portfolio |
| City: | Dayton |
| State: | Ohio |
| Year Built: | 1963/66/67 |