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Brown Multifamily Advisors is pleased to offer for sale Arlington Heights Apartments, a 57-unit, multifamily property. The property is located on Riverside Drive just south of Lane Avenue in Upper Arlington, Ohio.
Arlington Heights features a three-story mixed use brick building constructed in 1970 that contains 57 apartment units and one office unit. The property is situated on approximately 2.16 acres across from Scioto Country Club in the Upper Arlington School District.
Arlington Heights offers 54 one-bedroom / 1 bath flats, three two-bedroom / 1 bath flats and one 3,400 SF office space. The well-maintained units feature ample storage, central air, laundry room, secure entry and abundant parking. Arlington Heights offers a true value-add opportunity for an investor. The achievable market rents for one bedroom units at competitive properties are approximately $1.22 per square foot, which is roughly $0.33 per square foot higher than Arlington Heights’ current rents.
This is a great opportunity to acquire a stable, well-maintained multifamily property that seldom makes it on the market. Brown Multifamily Advisors invites you to pursue this asset as your next acquisition and we look forward to discussing it with you.
Updated on June 19, 2019 at 9:53 am