3066 Shadycrest Dr
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3066 Shadycrest Dr
22 Unit Apartment Building $1,350,000 ($61,364/Unit) 7% Cap Rate Cincinnati, OH 45239
Investment Highlights
- Desirable Suburban Rental Market
- Rents Under Market - Without Improvements Needed
- Value Add Opportunity - Below Market Rents
- Well Maintained All Brick Construction / Pitched Shingle Roof Newer
Executive Summary
Kyle Woodland of Reinvest Consultants and Jennifer Donathan of KW Commercial has been retained as the exclusive agent to offer for sale 3066 Shadycrest Drive in Colerain Township a suburb Northwest of Cincinnati. This is an excellent opportunity to purchase a well maintained asset with value add opportunity. 3066 Shadycrest Drive is a twenty-two unit garden style complex constructed of all brick. The roof is pitched shingle and was replaced within the last 5 years. . The property has a total of 10,298 square feet or approximately 450 square feet per unit. The project is comprised of twenty-two 1 bedroom / 1 bath units. Recent capital improvements include roof, new boiler, new hot water tank, new parking lot.
Utilities:
Each unit is heated by the gas boiler and air is provided by wall a/c units. Tenants have separate electric panel. Tenants pay for electric and owner pays heat, water, and trash.
Parking:
Private parking lot with enough space for 22 cars. The lot is blacktopped and was recently repaved and striped.
Amenities:
The property has a common area laundry room, washer and dryer is seller owned. The most appealing quality about this property is that it is located on a quiet cul-de-sac street lined with well trimmed homes. The property is also in the Northwest school district which is very desirable to many residents. It is also within a short distance to the busline and shopping and retail.
Utilities:
Each unit is heated by the gas boiler and air is provided by wall a/c units. Tenants have separate electric panel. Tenants pay for electric and owner pays heat, water, and trash.
Parking:
Private parking lot with enough space for 22 cars. The lot is blacktopped and was recently repaved and striped.
Amenities:
The property has a common area laundry room, washer and dryer is seller owned. The most appealing quality about this property is that it is located on a quiet cul-de-sac street lined with well trimmed homes. The property is also in the Northwest school district which is very desirable to many residents. It is also within a short distance to the busline and shopping and retail.
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Property Facts
| Price | $1,350,000 | Apartment Style | Low Rise |
| Price Per Unit | $61,364 | Building Class | C |
| Sale Type | Investment | Building Size | 20,870 SF |
| Cap Rate | 7% | Average Occupancy | 100% |
| No. Units | 22 | No. Stories | 3 |
| Property Type | Multifamily | Year Built | 1957 |
| Property Subtype | Apartment | Parking Ratio | 2.14/1,000 SF |
| Price | $1,350,000 |
| Price Per Unit | $61,364 |
| Sale Type | Investment |
| Cap Rate | 7% |
| No. Units | 22 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Building Size | 20,870 SF |
| Average Occupancy | 100% |
| No. Stories | 3 |
| Year Built | 1957 |
| Parking Ratio | 2.14/1,000 SF |
Unit Amenities
- Heating
- Kitchen
- Refrigerator
- Oven
- Range
- Tub/Shower
Site Amenities
- Controlled Access
- Tenant Controlled HVAC
- Recycling
- Smoke Free
- Smoke Detector
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Jennifer Donathan -
KW Commercial
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3066 Shadycrest Dr
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