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.
Excellent connectivity as the area sits minutes away from I-75, US-35, and downtown Dayton’s amenities
Rental rates on average grew 9.6% over the last 12 months across the submarkets
Average occupancy in the submarkets is 96.2%
COMPETITIVE INTERIOR UPGRAGES
Multiple apartment communities in the submarkets have recently undergone interior renovations, which has become a necessary approach in order to attract quality residents. Dayton 45 offers the incoming investor turnkey units in addition to all new deferred maintenance items. This grants the new owner the advantage of attracting quality residents without any necessary capital investments, in addition to buildings that will have greatly reduced maintenance requirements.
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)
Extensive Renovations entail:
New kitchen cabinets
New kitchen appliances (Stainless Steel)
Stone/Tile Backsplash in Kitchen
Tile Tub Surround
New Bathroom Vanity