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Multifamily

Views of Mt Airy

2992 High Forest Ln, Cincinnati, OH 45223

Listing Price: Request For Offer

Number of Units
282
Gross SF
202,478

Investment Overview

The Views of Mt. Airy offers the unique opportunity for immediate scale at nearly 300 units in one location positioned less than a 15-minute drive to Downtown Cincinnati, University of Cincinnati, and four hospital campuses. The asset offers strong in place cash flow with continued upside. Property has gone under a large renovation over the past five years to include interior and common area upgrades in addition to multiple deferred maintenance items addressed. Cincinnati rental rates continue to outpace the rest of the US in year over year rental growth with much of this push coming from upper tier work force housing product. Rental Rates for the Mount Airy Submarket grew year over year at 5.5 percent per Yardi Matrix reports. Two Bedrooms in the submarket outpaced the average growth at 6.7 percent. Strong market fundamentals and trailing financials coupled with continued upside offer an unmatched opportunity near the heart of Cincinnati.

Investment Highlights

  • Current Ownership Has Renovated All Units to Some Extent
  • Gold Units are Fully Renovated, Dishwashers, Countertops, Flooring, Lighting, Tub Surrounds, Mirrors. Painted or Replaced Cabinets.
  • Property Is Currently Owner Managed by Out of State Ownership.  Potential to Implement Professional Management Program.

Exclusively Listed By

Multifamily

Views of Mt Airy

Listing Price: Request For Offer

Number of Units
282
Gross SF
202,478

Investment Highlights

  • Current Ownership Has Renovated All Units to Some Extent
  • Gold Units are Fully Renovated, Dishwashers, Countertops, Flooring, Lighting, Tub Surrounds, Mirrors. Painted or Replaced Cabinets.
  • Property Is Currently Owner Managed by Out of State Ownership.  Potential to Implement Professional Management Program.

Investment Overview

The Views of Mt. Airy offers the unique opportunity for immediate scale at nearly 300 units in one location positioned less than a 15-minute drive to Downtown Cincinnati, University of Cincinnati, and four hospital campuses. The asset offers strong in place cash flow with continued upside. Property has gone under a large renovation over the past five years to include interior and common area upgrades in addition to multiple deferred maintenance items addressed. Cincinnati rental rates continue to outpace the rest of the US in year over year rental growth with much of this push coming from upper tier work force housing product. Rental Rates for the Mount Airy Submarket grew year over year at 5.5 percent per Yardi Matrix reports. Two Bedrooms in the submarket outpaced the average growth at 6.7 percent. Strong market fundamentals and trailing financials coupled with continued upside offer an unmatched opportunity near the heart of Cincinnati.

Exclusively Listed By

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