Union Hill

  • Price: $Market Bid
  • Address:

    1735 Mars Hill Drive
    Dayton, Ohio

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Description

VALUE- ADD OPPORTUNITY
Union Hill Is uniquely positioned in a market with rents matching those of product that is 20 years older than it currently sits. The asset has the capacity to undergo a strategic renovation plan to catapult it’s rents closer to some of it’s direct competitors in the surrounding submarkets. Currently the asset sits roughly $450 below other direct competitors in the market.

PROVEN RENT GROWTH
Union Hill is situated in the center of the West Carrollton submarket which has been one of Dayton’s top performers year-over-year. Rent Growth encroached on 10% and occupancies were north of 97%. It boasts and will continue to boast some of the strongest multifamily fundamentals in the near future.

HARD TO FIND | HIGH DEMAND ASSET
With 75% of Dayton’s multifamily supply aged at 1980’s construction or older, Union Hill offers an investor the opportunity to own a high demand asset that is in limited supply within the Dayton submarkets. In the last three years only two assets have sold in this submarket with the same/newer vintage as Union Hill.

THE MARKET
Prior to the pandemic, Dayton’s real gross metropolitan product grew at an average annual rate of 1 .5% from 2015 to 2019. During that same five-year period, job growth averaged 1.0% annually, with roughly 3,900 jobs added on average each year. In 2020, COVID-19 mitigation measures and limited business activity caused tile local economy to contract as much as 10.5% year-over-year in 2nd quarter. Dayton’s unemployment rate in November 2021 declined 1.1 points year-over-year to 3.5%, below the national average of 3.9%.

Listing Details

Price:$Market Bid
Address:1735 Mars Hill Drive
City:Dayton
State:Ohio
Year Built:1992

Location Map

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