Colerain Woods Apartments / 71 Units

4467 Colerain Avenue Cincinnati, OH 45223

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FOR SALE Incentives
Property Type:
MultiFamily Apartments
Amount:
$2,236,500
Last Verified:
May 25, 2017

Highlights

  • 71 Units ~ One and Two-Bedrooms Garden Style
  • Tenants Pay Electric
  • All Units are Rent Ready ~ No Down Units
  • All Kitchens Updated Except 2
  • Hardwood Floors, Laundry Room in Each Building
  • 30% Section 8
  • Newer Windows, Updated Kitchens and Bathrooms

Description

71 garden style one and two-bedroom units. Five 3-story buildings situated on 3.8 acre wooded lot surrounded by Mt. Airy Forest. Owner pays heat and water. Tenants pay electric. Three of the five buildings have boiler heat which the owner pays. The other two buildings have electric baseboard heat paid by the tenants. Each building has its own separate entrance and laundromat with 2 washers and 2 dryers. Newer vinyl windows. Many other updates including all new cabinets and countertops in the kitchens replaced in the last 5 years. Bathrooms have all new lighting, vanities, and medicine cabinets. No Down Units--all units are Rent-Ready! 30% Section 8.

1 Boiler installed in October of 2014 (85% Energy Efficient), Two Water Tanks installed in 2011. 3 Buildings have boiler heat (4481, 4479, and 4477). The other two buildings have electric heat (4469 and 4467). Electric is electric paneling, copper wiring, PVC plumbing, cast iron main stack plumbing, smoke detectors--10 year lithium battery.

Building Breakdown:
4481 / 4 One Bedroom, 10 Two Bedroom
4479 / 7 One Bedroom, 7 Two Bedroom
4477/ 3 One Bedroom / 11 Two Bedroom
4469 / 4 One Bedroom / 10 Two Bedroom
4467/ 3 One Bedroom / 12 Two Bedroom

Cincinnati, Hamilton County, Ohio


Year Built: 1967
Building Size: 49920.0sq ft
Lot Size: 3.8 acres

Map of 4467 Colerain Avenue, Cincinnati, OH, 45223

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Office: (513) 936-9110 ext 5139369110
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What are Real Estate Incentives?

Real Estate incentives range widely and have been overlooked by the Commercial Multiple Listing Services (MLS) for decades. Real estate incentives is a generic term used to group any number of programs, such as tax incentives, that are designated by an agency for a geographic area."

Why are Real Estate Incentives Important and to Whom?

"Incentives" are vital today and in the future because:

  • U.S. Public: Many incentives focus on job creation and Affordable Housing
  • Investors and Commercial Developers use incentives to reduce financial risk, obtain gap financing, etc. Investors and developers look for property listings with incentives available.
  • Commercial Real Estate Brokers, in mass, unfortunately do not know about incentives tied to their listings
  • Entire Supply Chain of Real Estate Development such as small and large companies who will provide goods and services to new and revitalized properties.