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$550,000
Est. payment /mo
8 Beds
4 Baths
3,000 SqFt
UPDATED:
Key Details
Property Type Multi-Family
Sub Type 2-4 Units
Listing Status Active
Purchase Type For Sale
Square Footage 3,000 sqft
Price per Sqft $183
MLS Listing ID 962643
Bedrooms 8
Full Baths 4
Year Built 1966
Annual Tax Amount $10,688
Lot Size 6,372 Sqft
Lot Dimensions 75 x 85
Property Sub-Type 2-4 Units
Property Description
Rare Four-Unit Investment Opportunity in Highly Desirable Waynesville!
6.55% Current CAP • Approx. 8.80% Pro Forma CAP • Fully Occupied • New Roof (2026) • Tenants Pay All Utilities
Rare opportunity to acquire a fully occupied four-unit apartment building in the highly desirable Waynesville rental market. Offering an approximate 6.55% current capitalization rate at the asking price, this property also presents exceptional upside through below-market rents. Current gross annual income is $47,640, while estimated market rents of approximately $1,250 per unit have the potential to increase annual gross income to approximately $60,000, resulting in an estimated 8.80% pro forma capitalization rate. Buyers should perform their own due diligence regarding projected rental income.
Constructed in 1966, this solid all-brick building features four spacious 2-bedroom, 1-bath apartments, each approximately 750-800 square feet. A unique floor plan offers two apartments on the first floor and two on the second floor, with separate stairways on each side providing convenient access and enhanced tenant privacy.
Major capital improvements include a brand-new roof installed in June 2026, significantly reducing future capital expenditure. Tenants pay all utilities, including electric, water, sewer and trash, while lawn care and snow removal are currently handled by a tenant, creating a truly low-maintenance investment with minimal owner responsibilities.
Multifamily opportunities in Waynesville are extremely limited. This property offers immediate cash flow, durable brick construction, low operating expenses, and outstanding long-term appreciation potential in one of Warren County's most desirable rental markets.
6.55% Current CAP • Approx. 8.80% Pro Forma CAP • Fully Occupied • New Roof (2026) • Tenants Pay All Utilities
Rare opportunity to acquire a fully occupied four-unit apartment building in the highly desirable Waynesville rental market. Offering an approximate 6.55% current capitalization rate at the asking price, this property also presents exceptional upside through below-market rents. Current gross annual income is $47,640, while estimated market rents of approximately $1,250 per unit have the potential to increase annual gross income to approximately $60,000, resulting in an estimated 8.80% pro forma capitalization rate. Buyers should perform their own due diligence regarding projected rental income.
Constructed in 1966, this solid all-brick building features four spacious 2-bedroom, 1-bath apartments, each approximately 750-800 square feet. A unique floor plan offers two apartments on the first floor and two on the second floor, with separate stairways on each side providing convenient access and enhanced tenant privacy.
Major capital improvements include a brand-new roof installed in June 2026, significantly reducing future capital expenditure. Tenants pay all utilities, including electric, water, sewer and trash, while lawn care and snow removal are currently handled by a tenant, creating a truly low-maintenance investment with minimal owner responsibilities.
Multifamily opportunities in Waynesville are extremely limited. This property offers immediate cash flow, durable brick construction, low operating expenses, and outstanding long-term appreciation potential in one of Warren County's most desirable rental markets.
Location
State OH
County Warren
Zoning Residential
Rooms
Basement Slab
Interior
Heating Electric
Cooling Window Unit
Exterior
Exterior Feature Deck, Fence, Porch
Parking Features None
Utilities Available Public Water, Sanitary Sewer
Building
Structure Type Brick
Schools
School District Wayne
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Listed by BHHS Professional Realty
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