URBANA 30
509 Kellie Dr.
Urbana, OH 43078
Price: TBD By Market
30 Units | 2007 Year Built
Investment Highlights:
Charles Hart Multifamily Group is pleased to present Urbana 30, a 30-unit apartment community located in Urbana, Ohio. Built in 2007, the property consists of thirty freestanding, single-story residential buildings situated across 5.39 acres. Urbana 30 provides an excellent opportunity to acquire a stable, well-located asset, with very little deferred maintenance and upside potential through continued unit renovations, increased rents, and improved management.
Urbana 30 is comprised entirely of spacious three-bedroom, one-bathroom single-level apartment homes, each offering approximately 1,144 square feet of living space. The community’s unique layout of detached units provides residents with the privacy and feel of single-family living while maintaining the operational efficiency of a multifamily asset. Renovated units feature modern interiors including updated cabinetry, vinyl plank flooring, updated exterior doors, and refreshed finishes throughout.
Each residence offers generous living space with functional floor plans designed to accommodate families and long-term residents. Additional interior and exterior features include washer/dryer hookups, spacious walk-in closets, a back patio, and a fully equipped kitchen with an electric stove, refrigerator, and range hood. The units are all electric, which the tenants are responsible for paying. The tenant also pays for water/sewer and trash removal is provided through the city.
Urbana 30 presents a compelling value-add opportunity for a new owner to further enhance operations and capture rental upside. The five most recent leases were signed at $1,400 per month, approximately $160 above the property-wide average rent. This gap represents more than $52,000 in annual loss-to-lease that can be realized through natural lease turnover and continued renovation efforts. Additionally, current ownership has invested significantly in capital improvements over the past three years, replacing the majority of HVAC systems and water heaters across the community.
Location Highlights:
The property is conveniently located in Urbana, the county seat of Champaign County. Urbana sits within 45 miles of both Columbus and Dayton and just 20 minutes north of Springfield, providing residents access to employment opportunities across two larger metropolitan areas while maintaining the affordability and lifestyle benefits of a smaller community. Local employers include major manufacturing and industrial companies such as Rittal Corporation, Honeywell, and ORBIS Corporation, while nearby Springfield provides additional employment drivers in healthcare, logistics, and manufacturing.
Urbana 30 Offering Documents
Please read the confidentiality agreement and buyer registration before filling out the form to view additional offering materials.
CHARLES HART REAL ESTATE MULTIFAMILY GROUP
HOME OPPORTUNITIES CLOSED TRANSACTIONS ABOUT ADVANTAGE CONTACT
Confidentiality and disclaimer agreement: The information contained in the following is proprietary and strictly confidential. It is intended to be reviewed only by the party receiving it from Charles Hart Real Estate LLC and should not be made available to any other person or entity without written consent of Charles Hart Real Estate LLC. Marketing Brochures have been prepared to provide summary, unverified information to prospective purchasers, and to establish only a preliminary level of interest in a given subject property. The information contained herein is not a substitute for a thorough due diligence investigation. Charles Hart Real Estate LLC has not made any investigation, and makes no warranty or representation, with respect to the income or expenses for the subject property, the future projected financial performance of the property, the size and square footage of the property and improvements, the Presence or absence of contaminating substances, PCB’s or asbestos, the compliance with State and Federal regulations, the physical condition of the improvements thereon, or the financial condition or business prospects of any tenant, or any tenant’s plans or intentions to continue its occupancy of the subject property. The information contained in a Marketing Brochure has been obtained from sources we believe to be reliable, however, Charles Hart Real Estate LLC has not verified, and will not verify, any of the information contained herein, nor has Charles Hart Real Estate LLC conducted any investigation regarding these matters and makes no warranty or representation whatsoever regarding the accuracy or completeness of the information provided. All potential buyers must take appropriate measures to verify all of the information set forth herein.
Listing disclaimer: Charles Hart Real Estate LLC is not affiliated with, sponsored by, or endorsed by any commercial tenant or lease identified in this marketing brochure. The presence of any corporation logo or name is not intended to indicate or imply affiliation with, or sponsorship or endorsement by said corporation and Charles Hart Real Estate LLC or any of its agents and is solely included for the purpose of providing information about a listing to prospective customers.
