1752 Patrick Dr, Cincinnati, OH 45204
Asking Price: $10,685,000
This is an excellent opportunity to acquire a well-performing, hyper-localized rental portfolio.​​
The portfolio consists of 91 buildings and a total of 99 units.​​

It is primarily subsidized by the Cincinnati Metropolitan Housing Authority (Section 8), with 30% of the units rented to market-rate tenants.​​

Investment Highlights
Major highlights of the portfolio:

Value add portfolio on most market-rate rents for future increase or subsidized conversion to S8, as 30% of the portfolio is market rent non-section 8.
Due to the pandemic, rents have not increased in this section of the portfolio and there is a massive value add opportunity for future rent increases.
The portfolio has had zero evictions from 2019-2020.

As most of the portfolio is comprised of SFR’s, tenants are responsible for their own utilities, landscaping, and other expenses of the properties.

Cashless no-contact interaction

No physical rent collections
With social distancing being the new normal, tenants’ payment options are as follows:
DEPOSIT INTO A RENT COLLECTION BANK ACCOUNT PAYMENT THROUGH PAY-LEASE
PAY THROUGH STANDARD MAIL
No abatements with housing authority

The portfolio has maintained proper physical standards and subsidized units have been regularly inspected by the housing authority over the years.

The portfolio has maintained good standing with the City of Cincinnati regarding city work orders.