Log In/Sign Up
Your email has been sent.
1047-1055 Linden Ave 3 Unit Apartment Building $613,886 CAD ($204,629 CAD/Unit) 11.02% Cap Rate Dayton, OH 45410
Investment Highlights
- 4 COMMERCIAL SPACES | THREE 3-BED/ 1-BA APARTMENTS.
- BELOW MARKET COMMERCIAL RENTS- ALL MONTH TO MONTH.
- VALUE ADD- RESIDENTIAL UNITS ARE VACANT.
- DAYTON’S FIRST KROGER | LOCATED IN HISTORIC LINDEN HEIGHTS.
Executive Summary
The Lorain Building, located on the corner of Linden Ave. and Wilfred Ave., presents an excellent opportunity for investors seeking a cash-flowing property with value-add potential. Home of the original Dayton Kroger, the building also carries significant historical character and community recognition.
The property is comprised of 4 commercial units, all currently rented, and 3 residential units, 3-Bed/1-Ba. The residential units likely need new paint and flooring to achieve market rents of approximately $1,100 per month. The commercial tenants are currently month-to-month, allowing for immediate rent adjustments.
Comparable sales in the area show single-family homes ranging from $135K–$160K and duplexes in the $200K range, supporting the value of this property with its three 3-bedroom residential units and four commercial spaces.
The current owner recently had residential tenants vacate with plans to complete renovations personally but has since relocated out of state, leaving the property ready for a new investor to complete updates and stabilize income quickly. Just before, the units were rented at an average of $750/Month in their current condition. A proposal for new windows and flooring (approx. $15,000) is available and will be shared with serious buyers.
(Property is agent owned.)
Financial Summary
Current Gross Income (all residential units vacant): $31,200
Previous Gross Income (with residential units rented at $750/month): $65,400
Projected Gross Income (at market residential rents, without adjusting commercial rents): $70,800
Estimated Operating Costs: $20,000 (low & self-managed)
The property is comprised of 4 commercial units, all currently rented, and 3 residential units, 3-Bed/1-Ba. The residential units likely need new paint and flooring to achieve market rents of approximately $1,100 per month. The commercial tenants are currently month-to-month, allowing for immediate rent adjustments.
Comparable sales in the area show single-family homes ranging from $135K–$160K and duplexes in the $200K range, supporting the value of this property with its three 3-bedroom residential units and four commercial spaces.
The current owner recently had residential tenants vacate with plans to complete renovations personally but has since relocated out of state, leaving the property ready for a new investor to complete updates and stabilize income quickly. Just before, the units were rented at an average of $750/Month in their current condition. A proposal for new windows and flooring (approx. $15,000) is available and will be shared with serious buyers.
(Property is agent owned.)
Financial Summary
Current Gross Income (all residential units vacant): $31,200
Previous Gross Income (with residential units rented at $750/month): $65,400
Projected Gross Income (at market residential rents, without adjusting commercial rents): $70,800
Estimated Operating Costs: $20,000 (low & self-managed)
Property Facts
| Price | $613,886 CAD | Property Subtype | Apartment |
| Price Per Unit | $204,629 CAD | Building Class | C |
| Sale Type | Investment | Lot Size | 0.20 AC |
| Cap Rate | 11.02% | Building Size | 9,674 SF |
| No. Units | 3 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1930 |
| Zoning | MR-5 - MR-5 zoning, which permits single-family, two-family, multi-family, accessory dwelling units (ADUs), and commercial use | ||
| Price | $613,886 CAD |
| Price Per Unit | $204,629 CAD |
| Sale Type | Investment |
| Cap Rate | 11.02% |
| No. Units | 3 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Building Class | C |
| Lot Size | 0.20 AC |
| Building Size | 9,674 SF |
| No. Stories | 2 |
| Year Built | 1930 |
| Zoning | MR-5 - MR-5 zoning, which permits single-family, two-family, multi-family, accessory dwelling units (ADUs), and commercial use |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 3+1 | 3 | - | - |
1 1
Property Taxes
| Parcel Number | R72-04006-0021 | Improvements Assessment | $60,035 CAD |
| Land Assessment | $8,914 CAD | Total Assessment | $68,949 CAD |
Property Taxes
Parcel Number
R72-04006-0021
Land Assessment
$8,914 CAD
Improvements Assessment
$60,035 CAD
Total Assessment
$68,949 CAD
1 of 18
Videos
Matterport 3D Exterior
Matterport 3D Tour
Photos
Street View
Street
Map
1 of 1
Presented by
1047-1055 Linden Ave
Already a member? Log In
Hmm, there seems to have been an error sending your message. Please try again.
Thanks! Your message was sent.