The Parkton

About The Parkton

7% TAX-ADJUSTED TRAILING CAP RATE

The Parkton offers an excellent opportunity to acquire a well-built property that recently underwent an extensive renovation. Offered with strong yield at high tax-adjusted cap rates of 7% on trailing 3 months and an achievable 7.4% in year one. Property performance is strong, operating at a consistently high occupancy of 94%, on average, over the past 12 months.

TRANSFORMATIONAL RENOVATION COMPLETED: $54K/UNIT - $18.8M TOTAL SPENT

The property has been fully transformed with significant mechanical improvements, new and improved community amenities, and 100% of the units have been upgraded. Built in 1970, The Parkton has the look and feel of a newer property, and was repositioned and re-branded to make it the top property in the submarket. A new owner can simply focus on increasing rents upon turnover or renewal, and burn off loss to lease.

PROXIMATE TO INTERSTATES, LARGEST MSA EMPLOYMENT HUB & POPULAR AMENITIES

Located less than one mile from I-275, The Parkton has excellent access to all of Cincinnati and also Dayton via I-75. The city’s largest logistics hub (122M SF) housing numerous employers, popular amenities and the Mercy Health Fairfield Hospital are all less than 10 minutes from the property.

TWO-PROPERTY CINCINNATI PORTFOLIO OPPORTUNITY

The Parkton (352 units) can be purchased alone, or together with The Apex (317 units), located just 15 minutes south. Together, the two properties total 669 units, offering the opportunity for scale in Cincinnati.