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384 N Franklin St - 3T's Townhomes 30 Unit Apartment Building Offered at $6,570,192 CAD at a 6.21% Cap Rate Richwood, OH 43344
Investment Highlights
- 2025 NEW CONSTRUCTION - 30 Units - 10 Townhome Style Buildings
- In-Place 6.2% Cap Rate, Projected 6.8% - 7.3% Stabilized Yield - STRONG Rent Growth Trajectory ($1350 - $1450 Target)
- Individually Metered Utilities (Tenant Pays Electric & Water/Sewer), In-Unit Washer & Dryer in every unit
- 95% Occupied
- Low Expense Profile & Predictable Operations
Executive Summary
Newly constructed (2025) 30-unit townhome-style multifamily community consisting of 10 buildings. The property is currently 95% occupied and stabilizing, with in-place rents generating a 6.2% cap rate at the offering price. Individually metered utilities (tenant-paid electric and water/sewer) create a favorable and predictable expense structure.
Ownership projects rental growth to $1,360 within Year 1 and $1,450 within Year 2, supporting a projected 6.8%–7.3% stabilized cap rate. Minimal deferred maintenance risk and limited competing new inventory in the immediate market position this asset as a low-volatility income opportunity with measurable upside.
Ideal for 1031 exchange buyers, passive investors, or portfolio expansion into newly delivered product.
Ownership projects rental growth to $1,360 within Year 1 and $1,450 within Year 2, supporting a projected 6.8%–7.3% stabilized cap rate. Minimal deferred maintenance risk and limited competing new inventory in the immediate market position this asset as a low-volatility income opportunity with measurable upside.
Ideal for 1031 exchange buyers, passive investors, or portfolio expansion into newly delivered product.
Data Room Click Here to Access
- Offering Memorandum
- Market Information
Financial Summary (Actual - 2026) Click Here to Access |
Annual (CAD) | Annual Per SF (CAD) |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Actual - 2026) Click Here to Access
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
Amenities
Unit Amenities
- Air Conditioning
- Cable Ready
- Dishwasher
- Microwave
- Washer/Dryer
- Heating
- Ceiling Fans
- Eat-in Kitchen
- Kitchen
- High Speed Internet Access
- Refrigerator
- Oven
- Range
- Tub/Shower
- Carpet
- Wi-Fi
- Double Pane Windows
- Family Room
- Loft Layout
- Patio
- Vinyl Flooring
- Window Coverings
Site Amenities
- Private Bathroom
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 3+2 | 30 | $1,627 CAD | 1,150 |
Property Taxes
| Parcel Number | 06-0008027-0000 | Total Assessment | $83,414 CAD (2024) |
| Land Assessment | $15,358 CAD (2024) | Annual Taxes | -$1 CAD ($0.00 CAD/SF) |
| Improvements Assessment | $68,056 CAD (2024) | Tax Year | 2026 Payable 2027 |
Property Taxes
Parcel Number
06-0008027-0000
Land Assessment
$15,358 CAD (2024)
Improvements Assessment
$68,056 CAD (2024)
Total Assessment
$83,414 CAD (2024)
Annual Taxes
-$1 CAD ($0.00 CAD/SF)
Tax Year
2026 Payable 2027
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384 N Franklin St - 3T's Townhomes
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