265 Units | Cincinnati | Dayton
Lakeshore Patterson | Dayton, OH
Marcus & Millichap is pleased to present Lakeshore Place and Patterson House apartments, 57 and 67 units of apartment living located in eastern Dayton only minutes from Downtown. Located in the submarket of Oakwood, this property provides the investor two top tier investments in one of Dayton’s most highly sought-after submarkets.
Dayton’s booming downtown neighborhood and thriving healthcare sector:
Downtown Dayton, the region’s entertainment hub, is located within 5 minutes of the asset and offers professional sports, farmers markets, museums, nightlife, and concert venues. Dayton’s four largest medical employers, Premier Health Partners, Kettering Health Network, Children’s Hospital and CareSource, are all within 15 minutes of property and total 25,085 employees.
Dayton metro’s continued rental growth:
In the 3rd quarter of 2022, effective asking rents for new leases were up 10.3% YOY. That annual rent performance was more than twice the market’s fiver-year average of 4.5%and a new high for the market. As of the 3rd quarter 2022, effective asking renal rates in Dayton averaged $1,071 per month or $1.177 per SF. Even with the strong rental growth the metro maintained an occupancy level above the national average of 93.8%. The metro boasts an average occupancy of 96.5%, with B Class assets leading A and C with an average occupancy of 96.8%.
Located in Dayton’s highest profile retail submarket with nearby demand drivers:
Within 15 minutes (10 miles) of The Mall at Fairfield with retailers include Macy’s, Dick’s Sporting Goods, H&M and JCPenney. Within 10 minutes (4 miles) of The Greene, a mixed-use asset featuring offices, apartments and retail destinations including Apple, Forever 21, Lululemon and Nordstrom Rack. Wright State University is located 15 minutes from the subject, with 12,000 students and 276-degree programs. Wright Patterson Air Force Base is located within 20 minutes (15miles) of the subject, with 20,000+ civilian employees and 7,000+ military personnel.