We Buy Houses

Buy - Sell - Rent - Invest

RE/MAX

 Contact Us

RE/MAX

9313 Mason-Montgomry Rd
Mason, OH 45040
 (513) 226-3179
Contact Us


1752 Patrick Dr, Cincinnati, OH 45204

Multiple Family

Property Status: Available |  For Sale: $10,685,000.00



99 Unit SFR/APT Rental Property Mix


Property Details:
Property Style:
1-Story
Basement:
No Basement
Owner/Agent:
Real Estate Agent

This is an excellent opportunity to acquire a well performing, hyper-localized rental portfolio.?? The portfolio consist of 91 buildings and a total of 99 units.??

It is primarily subsidized by the Cincinnati Metropolitan Housing Authority (Section 8), with 30% of the units rented to market-rate tenants.?? 

Major highlights of the portfolio:


 

Value add portfolio on most market-rate rents for future increase or subsidized conversion to S8, as 30% of the portfolio is market rent non-section 8.

Due to the pandemic, rents have not increased on this section of the portfolio and there is a massive value add opportunity for future rent increases.

The portfolio has had zero evictions from 2019-2020.

 

As most of the portfolio is comprised of SFR’s, tenants are responsible for their own utilities, landscaping, and other expenses of the properties.

Cashless no-contact interaction

 

No physical rent collections

With social distancing being the new normal, tenants’ payment options are as follows:

 

 

 DEPOSIT INTO A RENT COLLECTION BANK ACCOUNT PAYMENT THROUGH PAY-LEASE

PAY THROUGH STANDARD MAIL

 

No abatements with housing authority


The portfolio has maintained proper physical standards and subsidized units have been regularly inspected by the housing authority over the years.

The portfolio has maintained good standing with the City of Cincinnati regarding city work orders.

Contact me for Offering Memorandum and full Marketing Flyer 
 



Real Estate Promo is not responsible for the properties or the information listed here. Each Property is independently owned.  Click on the link above to contact the Property Owner about this property.