For Sale
$1,895,000

4644 Burkhardt AveDayton, OH 45431

Prime Dayton location, strong NOI, recent renovations.

Overview

Added:
Dec 11, 2024
Days on market:
113
This exceptional 35-unit apartment complex, located at 4644 Burkhardt Ave, Dayton, OH 45431, presents a compelling investment opportunity. The property, a Class B building constructed in 1969 and extensively renovated in 2023, boasts 29,097 square feet and offers a mix of 23 one-bedroom/one-bathroom and 12 two-bedroom/one-bathroom units. Thirty-one units have undergone recent renovations, including new insulated vinyl windows, paint, appliances, and updated flooring in living areas and kitchens. The roof was replaced within the last four years. Each unit features separate utilities, with tenants responsible for electric heat (baseboard) and electricity, and the landlord responsible for water. The property includes ample off-street parking in a private lot and on-site coin laundry facilities. A management office and substantial storage space are located in the main building. The asking price is $1,895,000, representing $65.13 per square foot and $54,143 per unit. The property currently generates a Net Operating Income (NOI) of $139,819, yielding a 7.38% cap rate. The property's location in Dayton's desirable Eastern Hills neighborhood, combined with the recent renovations and potential for rent increases, makes this a highly attractive investment prospect with significant upside potential.

Highlights

  • 35-unit apartment complex in Dayton, OH's desirable Eastern Hills neighborhood.
  • Class B building (1969 construction, extensively renovated in 2023), totaling 29,097 square feet.
  • Unit mix: 23 one-bedroom/one-bathroom, 12 two-bedroom/one-bathroom; 31 units recently renovated.
  • New roof (within last four years), ample off-street parking, on-site laundry, management office, and substantial storage.
  • $1,895,000 asking price ($65.13/SF, $54,143/unit); $139,819 NOI (7.38% cap rate).

Property Details for 4644 Burkhardt Ave

Property type
Apartment buildings
Square Feet
29,097 SF
Class
B
Year Built/Renovated
1969/2023
Units
35

Location Insight

City
Dayton
County
Montgomery
State
Ohio
Latitude
39.76000259553
Longitude
-84.133020447221
4644 Burkhardt Ave, Dayton, Ohio

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4644 Burkhardt Ave
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