697 - 701 Greenwood Avenue, Cincinnati, OH, 45229

Highlights

• 100% occupied
• Eight 2 bed units / four 1 bed units
• Raise rents for legacy tenants
• Convert the four 1-bedroom units to tenant-paid utilities
• Continue updating units and common areas for higher rents
• Allow subsidized rents
• Allow dogs to collect pet rent
• Xavier University is 1 mile away. Tap into the student market.
• Improve power/water efficiency to save on utilities.
• Area has come up quickly in recent years. Buy and hold for appreciation.

Description

Jennifer Donathan of KW Commercial and Kyle Woodland of
Reinvest Consultants are pleased to present a 12-unit
complex in Cincinnati, Ohio.

The property consists of two contiguous brick buildings with
a large shared parking lot. Each building contains six units
with four 2-bedroom/1-bath and two 1-bedroom/1-bath units.
Easy to maintain. Easy to rent and wait list is common.

Both buildings have gas boilers, with one having been upgraded to
a high-efficiency system and both have new pumps. Property features
new gas water heaters, pitched shingle roofs, vinyl replacement
windows, and a coin-op laundry in each building. The parking lot has
been resurfaced and the gutters/soffits replaced.

All 2-bedroom units are spacious, submetered for power, and have
semi-private dining areas. Many units have updated bathrooms,
kitchens, lighting, and flooring.

Greenwood Avenue is situated in NORTH Avondale, home to famous and historic mansions of Cincinnati. The apartments are surrounded by a mix of single family homes, mansions, high rise condos at Rose Hill and other multi-family buildings. Greenwood Avenue is right in the middle of most investors and homeowners target area to purchase property if looking in NORTH Avondale. Investors are purchasing the surrounding properties, completely renovating and then reselling. The mansions only ¼ mile away have strong resales prices and most on the market for just a few days.