Marcus & Millichap is pleased to present Embassy Flats, a 2-building, 20-unit portfolio, located in Cincinnati, Ohio. The community consists of 1-bedroom apartments. The asset is currently 90% occupied with 10,500 rentable sqft. on a total of 0.51 acres. Residents have access to all of downtown Cincinnati’s amenities, as the property is just a quick drive away. Embassy Flats offers incoming investors an opportunity to acquire a stabilized, newly renovated, high-income producing asset with an opportunity to continue the utility rub that is being implemented by the current owner.
MARKET LEADING RENTS
Embassy Flats is currently a market leader when comparing their rents to other properties in the neighborhood. The property has undergone interior unit renovations allowing for them to push rents and be at the top of the market. The property is stabilized, as it is quick to fill up its units and hold long-term tenants, showing that their rents are
achievable in the area.
COMPLETE UNIT UPGRADES
Current ownership has completed upgrading all of their units. New apartment features include brand new kitchen appliances, new
cabinets, new flooring, updated bathrooms and countertops. This
provides the opportunity for an investor to acquire an asset that has undergone renovations allowing for higher rents.
UTILITY SWAP IMPLEMENTATION
Embassy Flats is currently began implementing an utility swap. This
allows an incoming investor to continue the utility swap and add
additional income. If utility swap is implemented, an investor will be able to capture nearly $14,000 of additional income per year.
|Address:||4127-4129 West 8th Street|