23
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$375,000
Est. payment /mo
10 Beds
10 Baths
5,986 SqFt
Pending
2620 N Gettysburg Avenue Dayton, OH 45406
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Key Details
Property Type Multi-Family, Commercial
Sub Type 5+ Units
Listing Status Pending
Purchase Type For Sale
Square Footage 5,986 sqft
Price per Sqft $62
MLS Listing ID 952155
Bedrooms 10
Full Baths 10
Year Built 1965
Annual Tax Amount $13,136
Lot Size 5,227 Sqft
Lot Dimensions 140' x 45'
Property Sub-Type 5+ Units
Property Description
Explore this well-maintained 10-unit multifamily asset situated in the heart of Dayton. This 5,986-square-foot building features ten 1-bed/1-bath units and is currently 80% occupied, reflecting the area's consistent rental demand. Current base rents average approximately $615 per month. Significant capital improvements have been made, including a roof approximately 3.5 years old and an efficient boiler system designed for year-round comfort. Six of the units have been recently renovated, providing a turnkey foundation for a new owner.
Strategic value-add is currently being implemented through a utility pass-through program. This pass-through is a separate, additional fee paid by tenants in addition to their base rent. While most tenants currently pay a $50/month fee for water, sewer, trash, and gas, recent renewals have successfully moved to a $120/month rate. All subsequent renewals are scheduled to align with this $120/month fee, offering a clear path for a potential increase in Net Operating Income. Positioned in an area noted for its economic anchors like Wright-Patterson Air Force Base and the logistics sector, this asset offers immediate stability. Professionally managed and located in a region with a track record of historical growth, this property is a strong candidate for investors seeking a value-add opportunity.
Strategic value-add is currently being implemented through a utility pass-through program. This pass-through is a separate, additional fee paid by tenants in addition to their base rent. While most tenants currently pay a $50/month fee for water, sewer, trash, and gas, recent renewals have successfully moved to a $120/month rate. All subsequent renewals are scheduled to align with this $120/month fee, offering a clear path for a potential increase in Net Operating Income. Positioned in an area noted for its economic anchors like Wright-Patterson Air Force Base and the logistics sector, this asset offers immediate stability. Professionally managed and located in a region with a track record of historical growth, this property is a strong candidate for investors seeking a value-add opportunity.
Location
State OH
County Montgomery
Zoning Commercial,Multiple
Rooms
Basement Slab
Interior
Heating Hydronic Baseboard, Natural Gas
Cooling Wall
Exterior
Parking Features None
Building
Structure Type Brick
Schools
School District Dayton
Listed by ManCo Property Services
NEARBY SCHOOL & BUSINESS
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