Grafton Hills

Description

Marcus & Millichap is pleased to present Grafton Hills Apartments, a 42-Unit multifamily apartment community located in the Grafton Hill submarket, less than 1 mile north of Downtown Dayton. The portfolio consists of 32 studios and 10 1-bedroom, 1 bathroom units. The community has received significant capital improvements ranging from updated interiors consisting of LVP Flooring and new appliances to new roofs and windows. The portfolio offers the incoming investor the value-add approach through continued renovations of the remaining vacant units, as well as the implementation of Utility Rubs and Garage Income.

UTILITY RUB IMPLEMENTATION
Grafton Hills Apartments are currently paying all utilities besides electric for the tenants. However, only 3 of the 42 tenants have an utility RUB implemented. If utility RUBs are implemented by the incoming investor to the remaining tenants, an investor will be able to capture nearly $14,750 of additional income per year.
GARAGE INCOME
Situated under the 200 Central Ave. building is 15 garage parking spaces. Current ownership has spent the time, energy, and effort to fully-restore the parking garage for tenant use. With the implementation of charging tenants for the garage parking space, an investor will be able to capture nearly $11,000 of additional income per year.

SUBMARKET HIGHLIGHTS
Excellent connectivity as the area sits minutes away from I-75, US-35, and downtown Dayton’s amenities and employment
Notable leisure/retail hubs and employers within a 10-minute drive of the submarket
– Leisure/Retail Hubs
– Day Air Ballpark
– Benjamin & Marian Schuster Performing Arts Center
– Levitt Pavilion
– Hollywood Gaming

EMPLOYERS
Kettering Health Dayton – Emergency Center
Grandview Hospital
Sinclair Community College
CareSource
KeyBank
Premier Health
Logistics and Manufacturing Hubs at the corner of Needmore Rd.& I-75
– LORD Corporation
– Supply Technologies
– Look Wall Tile

Listing Details

Location Map