Townhouse-Style
For Sale
$609,900
1855-1861 N Lakeman Drive, Bellbrook, OH 45305
ResidentialIncome, Bellbrook, OH
Property Size3,752 SF
Lot Size0.30 Acres
Price / SF$162.55
Days on Market53
Property Features for 1855-1861 N Lakeman Drive
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
Residential
Zoning description
Residential
Bedrooms
8
Bathrooms
8
Full bathrooms
8
Rooms
Bathroom 3, Bedroom 1, Bedroom 2, Bedroom 4, Bedroom 5, Bathroom 8, Bathroom 4, Bedroom 8, Bathroom 5, Bathroom 7, Bedroom 3, Bathroom 1, Bedroom 6, Bedroom 7, Bathroom 2, Bathroom 6
Parking features
Garage
Subdivision
Carriage By Lake
Elementary school district
Sugarcreek
Middle school district
Sugarcreek
High school district
Sugarcreek
Standard status
Active
APN
L32-0001-0003-0-0081-00
Size
3,752 SF
Lot size
0.30 Acres
Taxes and HOA fees
Tax Description
CARRIAGE BY THE LAKE 1 ALL LOT 195 N LAKEMAN AV
Legal Description
CARRIAGE BY THE LAKE 1 ALL LOT 195 N LAKEMAN AV
Utilities
Heating system
Electric (Heating), Baseboard
Cooling system
Window Unit(s)
Amenities
washer/dryer hookups
off-street parking
outdoor storage closet
Building Details
Year built
1989
Floors in Building
2
Number of units
4
Building materials
Brick, VinylSiding
Listing Agency:
Keller Williams Community Part · Keller Williams Realty
(937) 530-4904
Listed By:
Myles Greely · License #2020004590
(937) 269-7087
Added: Aug 14
Changed: Oct 3
Last Checked: Oct 5 at 4:06PM
MLS# 966569
Copyright © 2026 Dayton Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Located at 1855-1861 N Lakeman Drive in Bellbrook, Ohio, this 3,752-square-foot quadplex contains four townhouse-style units. Each residence includes two bedrooms and two full bathrooms, with a living room, eat-in kitchen, and full bathroom on the main level. The upper floor contains two bedrooms and another full bathroom. Individual washer and dryer hookups, an outdoor storage closet, and off-street parking serve each unit. The property was built in 1989 on a 0.2957-acre residential-zoned site.
Updates include lighting, bathroom fixtures, wall heaters, a window A/C unit, paint, blinds, a main water supply valve, and garbage disposal in unit 1855; a window A/C unit, blinds, and smoke detectors in 1857; and blinds in 1861. The roof and decking were completely replaced in 2025. Construction includes brick and vinyl siding, with electric baseboard heating and window-unit cooling.
Updates include lighting, bathroom fixtures, wall heaters, a window A/C unit, paint, blinds, a main water supply valve, and garbage disposal in unit 1855; a window A/C unit, blinds, and smoke detectors in 1857; and blinds in 1861. The roof and decking were completely replaced in 2025. Construction includes brick and vinyl siding, with electric baseboard heating and window-unit cooling.
Key Highlights
- Four townhouse‑style units, each with 2 bedrooms and 2 full bathrooms
- 3,752 square feet on a 0.2957‑acre residential‑zoned site
- Two‑story layouts with living room, eat‑in kitchen, and bathrooms on the main level
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$34,729
Cap Rate
5.69%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$694,580
$694.6K
Cap Rate 7%
$496,129
$496.1K
Cap Rate 9%
$385,878
$385.9K
Market Conditions
NOI Build-Up for 3,752 SF
Gross rent
$51.8K $13.80/SF
− Vacancy
−$2.2K −$0.58/SF
EGI
$49.6K $13.22/SF
− OpEx
−$14.9K −$3.97/SF
NOI
$34.7K $9.26/SF
Area
Greene County, OH
Vacancy
4.18%
Lease Rate
$13.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$694,580
Cap Rate 7%
$496,129
Cap Rate 9%
$385,878
Alternative Uses
Best Use
Multifamily LT 5
$496.1K
$434.1K – $578.8K
NOI $34,729 @ 7.0% cap · market cap 5.69%
Second Best
Apartment 5plus
$456.6K
$399.5K – $532.7K
NOI $31,959 @ 7.0% cap · market cap 5.24%
Theoretical Best
Office B
$705.5K
$617.3K – $823.1K
NOI $49,383 @ 7.0% cap · market cap 8.10%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
499
Businesses Nearby
Explore this area
Business Placement
Demographics for 45305, OH
11,470
Population
4,466
Households
2.6
Avg Household Size
41
Median Age
52%
College-Educated
96%
High-School Grad
13.8 sq mi
ZIP Area
831
Density / Sq Mi
$119,129
Median Household Income
$62,873
Median Earnings
$1,241
Median Rent
$314,500
Median Home Value
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Market
Vacancy Rate% for Multifamily in Midwest region
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Frequently Asked Questions
What type of property is this?
Quadplex - Four residential units offer two-story layouts, individual laundry hookups, storage closets, and off-street parking.
Where is this quadplex located?
The property is located at 1855-1861 N Lakeman Drive Bellbrook, OH.
What is the asking price?
The asking price for this property is $609,900.
What are key features of this property?
This property features: Four townhouse‑style units, each with 2 bedrooms and 2 full bathrooms; 3,752 square feet on a 0.2957‑acre residential‑zoned site; Two‑story layouts with living room, eat‑in kitchen, and bathrooms on the main level
