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Wilmington Apartments 805-819 Wilmington Ave 84 Unit Apartment Building For Sale Dayton, OH 45420
Investment Highlights
- Well-maintained asset with over 30 years of current ownership
- Located in the Shroyer Park submarket, directly adjacent to Kettering and Oakwood with strong renter demand and accessibility to major employment hubs
- Clear renovation value-add opportunity with below-market rents and ability to drive income through interior upgrades and operational improvements
- Recent capital improvements include roof replacement (2021), solar panel installation (2021), and vinyl windows replaced (2010)
Executive Summary
Marcus & Millichap is pleased to present Wilmington Apartments, an 84-unit multifamily investment opportunity located at 805–819 Wilmington Avenue in Dayton, Ohio within Montgomery County. The property is comprised of two three-story brick buildings situated across two parcels, offering a well-maintained asset in the Shroyer Park submarket. Constructed in 1962, the property totals approximately 42,000 rentable square feet and features a 100% one-bedroom unit mix with efficient layouts.
Wilmington Apartments is currently operating at approximately 90% occupancy with average effective rents around $809, providing a clear value-add opportunity through interior renovations, lease-up, and the implementation of a RUBS program. The property currently includes all utilities in rent, creating immediate upside through expense recapture and additional income streams such as bulk internet and laundry. The asset benefits from long-term ownership, recent capital improvements, and a highly accessible location adjacent to Kettering and Oakwood, with close proximity to the University of Dayton, Downtown Dayton, and Wright-Patterson Air Force Base, supporting stable renter demand and long-term growth.
Link to deal vault with OM, rent roll and financials: https://www.marcusmillichap.com/properties/202663/wilmington-apartments
Wilmington Apartments is currently operating at approximately 90% occupancy with average effective rents around $809, providing a clear value-add opportunity through interior renovations, lease-up, and the implementation of a RUBS program. The property currently includes all utilities in rent, creating immediate upside through expense recapture and additional income streams such as bulk internet and laundry. The asset benefits from long-term ownership, recent capital improvements, and a highly accessible location adjacent to Kettering and Oakwood, with close proximity to the University of Dayton, Downtown Dayton, and Wright-Patterson Air Force Base, supporting stable renter demand and long-term growth.
Link to deal vault with OM, rent roll and financials: https://www.marcusmillichap.com/properties/202663/wilmington-apartments
Property Facts
| Sale Type | Investment | Lot Size | 2.21 AC |
| No. Units | 84 | Building Size | 42,000 SF |
| Property Type | Multifamily | No. Stories | 3 |
| Property Subtype | Apartment | Year Built | 1962 |
| Apartment Style | Garden | Parking Ratio | 2/1,000 SF |
| Building Class | C |
| Sale Type | Investment |
| No. Units | 84 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 2.21 AC |
| Building Size | 42,000 SF |
| No. Stories | 3 |
| Year Built | 1962 |
| Parking Ratio | 2/1,000 SF |
Amenities
Unit Amenities
- Air Conditioning
- Balcony
- Cable Ready
- Heating
- Kitchen
- Refrigerator
- Oven
- Range
- Tub/Shower
- Carpet
- Window Coverings
Site Amenities
- Laundry Facilities
- Property Manager on Site
- Video Patrol
- Laundry Service
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 84 | $1,159 CAD | 500 |
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Moderately walkable
60/100
Exceptionally drivable
100/100
Limited public transit
30/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | R72-13805-0006 | Improvements Assessment | $429,684 CAD |
| Land Assessment | $140,211 CAD | Total Assessment | $569,895 CAD |
Property Taxes
Parcel Number
R72-13805-0006
Land Assessment
$140,211 CAD
Improvements Assessment
$429,684 CAD
Total Assessment
$569,895 CAD
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Wilmington Apartments | 805-819 Wilmington Ave
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