The West Clifton Apartments is a 16 unit complex with a Moderate Rehab Hap Contract for 15 of 16 the units. The property is slated for a $7000 annual rental increase for 2012. There is a studio apartment that is not included in the MOD Rehab Contract and it is being used as a storage room but could be leased for $350/month or a potential $4200/year. Tenants pay for their own heat and electric and landlord pays water. This is an excellent opportunity for an experienced tax credit developer or an apartment operator with strong and aggressive management in place.

Location Description:

The complex is located in Cincinnati Ohio at the bottom of West Clifton Avenue just a mile North and South of downtown Cincinnati and the University of Cincinnati. The new Cincinnati Street Car which broke ground in February 2012 at an estimated cost of $100 million dollars will be routed right past the complex. This new development will bring much revitalization to the area and open doors to other opportunities for the property.

Highlights:

>> Moderate Rehab HAP Contract In Place

>> Located On $100M Cincinnati Street Car Route

>> Possible Tax Credit Opportunity

>> 10.5% CAP Rate - Value Add Deal

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