Description
WELL MAINTAINED ASSET:
Since the start of ownership in 2006, management has diligently reinvested back into the property addressing all major deferred maintenance items from roofs and gutters/downspouts to blacktop and storm water run off drainage. On the unit interiors, the community is second generation Cardinal Construction enabling management to quickly and easily turn units by ordering replacement cabinets, counter tops, appliances, doors and trim from Buckeye Management in Columbus, OH. The turn materials arrive in one package and do not require any resizing, resulting in quick turns and enabling ownership to replace damaged items at a similar cost to repair.
SUBMARKET DRIVERS:
The top five industries with the largest employment concentration in Hillsboro are:
Health Care & Social Assistance: 19%
Manufacturing: 14%
Accommodation & Food Services: 11%
Educational Services: 10%
Retail Trade: 8%
Seal-Tite Manufacturers first began in the spring of 1900 in Cincinnati, Oh. They have been consistently expanding their operation in Hillsboro since 2009, with their most recent expansion planned to create 80 additional roles.
Hobart Corporation is a leading manufacturer of commercial food equipment with over 1,500 technicians, first founded in 1897 in Troy, Oh. The Hillsboro manufacturing location recently celebrated it’s 50Th anniversary, the facility opened in 1970.
ORGANIC RENTAL GROWTH:
Current management has not had a rental increase at the community since 2017, and they currently work off a waiting list. In addition, the average asking rent of the competing market rate communities in the area is over $200 higher than the average effective rent at Deerbrook Apartments.
Listing Details
| Price: | $Market Bid |
|---|---|
| Address: | 1100 Northview Drive |
| City: | Hillsboro |
| State: | Ohio |
| Year Built: | 1978 |