4644 Burkhardt AveDayton, OH 45431

Property Details for 4644 Burkhardt Ave

Year built

1969

Construction

WOOD

Lot size

0.22 AC

Property size (Sq ft)

29,097 SF

Property type

Residential income properties

Property subtype

Garden apartment buildings

APN

R72 15410 0108

APU

R72154100108

Description

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.

• CAP approach

  CAP return

  Valuation

  6%

  $6,923,255

  6.5%

  $6,390,697

  7%

  $5,934,218

• Comparable approach

  Method

  Valuation

  Relative Method

  $888,026

  Geo Method

  $888,026

• Alternative Use

  Use

  Valuation

  Residential

  $6,390,697

  Hospitality

  $5,853,844

  Educational

  $4,870,330

  Medical

  $5,037,828

  Retail

  $7,576,068

Location Insight

City

Dayton

County

Montgomery

State

Ohio

Latitude

39.7597

Longitude

-84.1325

CBSA code

19430

CBSA name

DAYTON-KETTERING, OH METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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