1000 N West St
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1000 N West St
40 Unit Block of Flats £3,755,760 (£93,894/Unit) 7.75% Net Initial Yield Hillsboro, OH 45133
Executive Summary
Welcome to Harper Station!
This immaculate 40-unit apartment complex is a standout investment opportunity in Hillsboro, Ohio—a rapidly growing area with new construction surrounding the property. With the Highland County Hospital, the largest employer in the region, situated directly behind, this location offers excellent potential for steady rental demand.
Unit Breakdown:
22 two-bedroom, one-bathroom units, each with an attached garage.
18 three-bedroom, one and a half-bathroom units, also featuring attached garages.
Future Developments:
An additional lot on the property is ready for a duplex build, allowing for expansion and increased revenue potential.
Utilities:
The seller is in the process of having the community tap into the city sewer system which will mean owner paid utilities are only for turns. Tenants pay heat and water.
Current Market Trends:
Rents are at an eall-time high, ensuring robust cash flow for the new owner.
Value add opportunity in getting all units to market rent.
Upgrades & Condition:
5 new roofs have been installed.
33 of the 40 units boast new HVAC systems.
Many units have new decks, along with fresh LVP, carpet, and paint following recent turnovers.
Prime Location:
It is ideally situated for your next investment venture, with growing demand and a solid tenant base in a thriving community. Don’t miss out on this unique opportunity!
Seller is conducting a 1031 exchange on this property.
Can purchase Harper Station, LLC (drop n swap)
This immaculate 40-unit apartment complex is a standout investment opportunity in Hillsboro, Ohio—a rapidly growing area with new construction surrounding the property. With the Highland County Hospital, the largest employer in the region, situated directly behind, this location offers excellent potential for steady rental demand.
Unit Breakdown:
22 two-bedroom, one-bathroom units, each with an attached garage.
18 three-bedroom, one and a half-bathroom units, also featuring attached garages.
Future Developments:
An additional lot on the property is ready for a duplex build, allowing for expansion and increased revenue potential.
Utilities:
The seller is in the process of having the community tap into the city sewer system which will mean owner paid utilities are only for turns. Tenants pay heat and water.
Current Market Trends:
Rents are at an eall-time high, ensuring robust cash flow for the new owner.
Value add opportunity in getting all units to market rent.
Upgrades & Condition:
5 new roofs have been installed.
33 of the 40 units boast new HVAC systems.
Many units have new decks, along with fresh LVP, carpet, and paint following recent turnovers.
Prime Location:
It is ideally situated for your next investment venture, with growing demand and a solid tenant base in a thriving community. Don’t miss out on this unique opportunity!
Seller is conducting a 1031 exchange on this property.
Can purchase Harper Station, LLC (drop n swap)
Financial Summary (Pro forma - 2024) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| 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 (Pro forma - 2024) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | £3,755,760 | Apartment Style | Garden |
| Price Per Unit | £93,894 | Building Class | B |
| Sale Type | Investment | Building Size | 1,150 SF |
| Net Initial Yield | 7.75% | Average Occupancy | 100% |
| Sale Conditions | 1031 Exchange | Number of Floors | 1 |
| No. Units | 40 | Year Built | 2002 |
| Property Type | Residential | Parking Ratio | 10/1,000 SF |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Price | £3,755,760 |
| Price Per Unit | £93,894 |
| Sale Type | Investment |
| Net Initial Yield | 7.75% |
| Sale Conditions | 1031 Exchange |
| No. Units | 40 |
| Property Type | Residential |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | B |
| Building Size | 1,150 SF |
| Average Occupancy | 100% |
| Number of Floors | 1 |
| Year Built | 2002 |
| Parking Ratio | 10/1,000 SF |
| Opportunity Zone |
Yes |
Unit Amenities
- Cable Ready
- Dishwasher
- Washer/Dryer Hookup
- Ceiling Fans
- Eat-in Kitchen
- Kitchen
- High Speed Internet Access
- Refrigerator
- Oven
- Range
- Tub/Shower
- Walk-In Closets
- Carpet
- Deck
- Double Pane Windows
- Island Kitchen
- Patio
Unit Mix Information
| Description | No. Units | Avg. Rent.Mo | SF |
|---|---|---|---|
| 2+1 | 22 | £798.10 | - |
| 3+2 | 18 | £938.94 | - |
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zoning
| Zoning Code | 550 |
| 550 |
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1000 N West St
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