1601 Friendship RdAberdeen, OH 45101

Property Details for 1601 Friendship Rd

Year built

1971

Property type

Residential income properties

Property subtype

Other apartment buildings

APN

15-025504-00-00

APU

150255040000

Description

This exceptional multifamily investment opportunity encompasses a portfolio of four apartment properties strategically located throughout Brown County, Ohio. The portfolio comprises 48 units spread across 14 buildings, totaling 50,650 square feet. Built between 1966 and 2003, with renovations completed in 2015 and beyond, these properties boast a remarkable 98% occupancy rate, reflecting strong market demand. The properties are situated in Aberdeen, Georgetown, Ripley, and Mount Orab, offering operational efficiencies and economies of scale. Zoned for 401 Apartments & R2 Multifamily, the portfolio presents a compelling value-add proposition. Significant income enhancement opportunities exist through implementing month-to-month fees, billing back trash expenses, reimbursing water/sewer costs, reducing operational expenses (including management and insurance), and establishing exclusive cable/internet contracts. Brown County's limited rental supply and consistently high demand create a strong foundation for continued rent growth. The portfolio's history of renovations, coupled with the current high occupancy, positions it for sustained success. This is a rare opportunity to acquire a well-performing portfolio in a market with limited new construction and high renter demand. The properties are privately owned and are not subject to a ground lease. This is a turnkey investment ready for immediate income generation and further value creation.

Location Insight

City

Aberdeen

County

Brown

State

Ohio

Latitude

38.6714

Longitude

-83.7672

CBSA code

17140

CBSA name

CINCINNATI-MIDDLETOWN, OH-KY-IN METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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