Fully leased 14-unit townhome portfolio in Kettering, located near the Oakwood border. Offered as one investment, the portfolio includes three residential buildings. Current rents average approximately $250 per unit below estimated market rents ($42,000 per year), providing meaningful potential for future rent growth.
All units feature two-bedroom floor plans with distinctive layouts. Twelve townhomes showcase a beautiful spiral staircase—a striking architectural feature rarely found in rental properties—and include one full bath and two half baths. Two garden-style units offer single-level living with two full baths. Kitchens include a range, refrigerator, dishwasher and disposal. Eight units provide in-unit washer and dryer hookups. The community laundry room features three leased, coin-operated washer-and-dryer units that will convey with the property. Tenants pay gas and electric. Parking includes 14 covered carport spaces and five uncovered spaces in the rear lot.
The property has received substantial improvements within the past five years. Seven units have been fully renovated and four partially renovated. The rear lot and covered parking areas received asphalt improvements in September 2023. Decks were rebuilt at Units 2177 and 2183, and deck stairs at Unit 2179. New HVAC systems were installed in Units 2171, 2183 and 2191.
Plumbing improvements include individual main water shutoff valves in every unit and new building water-main shutoff valves in the pit. Additional updates include water heaters, appliances, toilets, faucets, sinks and fixture shutoff valves.
This is an opportunity to acquire a stabilized, income-producing portfolio with distinctive townhome residences and significant rental upside near Oakwood.
Financial information is available to qualified prospective purchasers upon execution of a purchase contract. Net Operating Income = TTM: $100,612, 2025: $100,262
Please do not disturb tenants. Showings by appointment only.