Investment Overview

Marcus & Millichap is pleased to present Central Superior, a 42-unit multifamily investment opportunity located at 200 Central Avenue and 333 Superior Avenue in the Grafton Hill neighborhood of Dayton, Ohio, within Montgomery County. Constructed in 1963 and renovated in 2022, the property is two three-story brick buildings on 0.46 acres, positioned about 1 mile from Kettering Health Dayton and 1.5 miles from downtown Dayton. The asset features a unit mix of 31 studio and 11 one-bedroom apartments averaging approximately 416 square feet, along with an on-site laundry room, a garage with capacity for at least 12 vehicles, and street parking. Units are individually metered for electric, with ownership covering common area electric, gas for the boiler and hot water, water, sewer, and trash. Since 2021, ownership has replaced both roofs, installed replacement windows across both buildings, updated the majority of the electric panels, replaced multiple plumbing stacks, added new hallway flooring and mailboxes, and renovated the laundry room. Roughly half of that work sits behind the walls, and about 85% of the apartments have been finished as units turned. In-place effective rents average $636 on the studios and $750 on the one-bedrooms. The projection adds about 8%, roughly $27,000 a year, and holds the one-bedroom at $775. Two income streams sit at zero today: the garage, which carries at least 12 spaces and produces no parking revenue, and a bulk cable and internet program of the kind nearby buildings have already adopted. With Kettering Health Dayton, Sinclair Community College, downtown Dayton, the University of Dayton, and Dayton Children's Hospital all within three miles, Central Superior is positioned for continued occupancy and income growth.