Two-Building Apartment
2648 Parklawn Drive Kettering, OH 45440
2648 Parklawn Drive, Kettering, OH, 45440
$1,949,000
For Sale
Under Contract
$1,949,000
MULTI_FAMILY - Kettering, OH
Property Size14,894 SF
Lot Size1.09 Acres
Price / SF$130.86
Days on Market410
Property Features for 2648 Parklawn Drive
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Zoning
- Multiple
- Bedrooms
- 24
- Bathrooms
- 22
- Rooms
- Bedroom 2, Bathroom 1, Bedroom 3, Bathroom 2, Bedroom 18, Bedroom 24, Bathroom 6, Bathroom 9, Bedroom 11, Bathroom 4, Bathroom 3, Bathroom 13, Bedroom 20, Bathroom 19, Bedroom 9, Bedroom 19, Bedroom 7, Bathroom 22, Bedroom 14, Bathroom 12, Bathroom 14, Bedroom 13, Bedroom 4, Bathroom 18, Bedroom 5, Bedroom 6, Bathroom 21, Bathroom 5, Bathroom 15, Bedroom 1, Bathroom 20, Bedroom 16, Bathroom 11, Bedroom 12, Bedroom 21, Bathroom 10, Bathroom 8, Bathroom 17, Bedroom 23, Bathroom 16, Bedroom 8, Bedroom 15, Bathroom 7, Bedroom 22, Bedroom 10, Bedroom 17
- Parking features
- Parking Lot, Garage, On Street
- Patio and Porch features
- Patio, Porch
- Interior features
- CeilingFans, HighSpeedInternet, LaminateCounters, Pantry, Remodeled
- Exterior features
- Fence, Porch, Patio, Storage
- Fencing
- Fenced
- Appliances
- Disposal, Range, Refrigerator, GasWaterHeater
- Standard status
- Active Under Contract
- APN
- N64-02611-0002
- Size
- 14,894 SF
- Lot size
- 1.09 Acres
Taxes and HOA fees
- Tax Description
- 135 WILMINGTON HTS 8
Utilities
- Heating system
- Natural Gas, Forced Air
- Cooling system
- Wall Unit(s), Central Air
- Water source
- Public
Building Details
- Year built
- 1963
- Floors in Building
- 2
- Number of units
- 21
- Building materials
- Brick, VinylSiding
- Additional Structures
- Storage, Shed(s)
Listing Agency
Irongate Inc.
(937) 433-3300
122 N Main St., Dayton, OH
Listed by
Kevin Hogan
(937) 681-1798
Added: Jun 3, 2025 Checked: Jul 17 at 9:06 am
MLS# 935772
Listing URL
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.
This for-sale apartment property consists of two buildings with 21 units. The ownership has maintained and cared for the asset over the past 17 years, and many units have been refreshed over the last several years with new flooring, paint, doors, and countertops.
The property is across the street from an elementary school, with a grocery store about one mile away. It is also approximately two miles from I-675, about two and a half miles from Walmart, and within about 30 minutes of the greater Dayton market.
On-site amenities include a community laundry room with coin-operated washer and dryer units, supporting convenient resident access.
The property is across the street from an elementary school, with a grocery store about one mile away. It is also approximately two miles from I-675, about two and a half miles from Walmart, and within about 30 minutes of the greater Dayton market.
On-site amenities include a community laundry room with coin-operated washer and dryer units, supporting convenient resident access.
Key Highlights
- 2‑building, 21‑unit apartment property
- Coin‑operated washer & dryer in a community laundry room adds $300–$350/month to the bottom line
- Most units refreshed over recent years with new flooring, paint, doors, and countertops
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $241.3k | $16.20 |
| − Vacancy | −$10.6k | −$0.71 |
| EGI | $230.7k | $15.49 |
| − OpEx | −$103.8k | −$6.97 |
| NOI | $126.9k | $8.52 |
14,894 SF · lease $16.20/SF/yr · vacancy 4.40% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$1.81M
$1.59M – $2.11M
NOI $126,866 @ 7.0% cap · market cap 6.51%
Second Best
—
—
no second resolved use
Theoretical Best
Office B
$2.80M
$2.45M – $3.27M
NOI $196,033 @ 7.0% cap · market cap 10.06%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
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FAQs
What type of property is this?
Apartment building - Two-building, 21-unit apartment property with community laundry featuring coin-operated washer and dryer.
Where is this apartment building located?
The property is located at 2648 Parklawn Drive Kettering, OH.
What is the asking price?
The asking price for this property is $1,949,000.
What are key features of this property?
This property features: 2‑building, 21‑unit apartment property; Coin‑operated washer & dryer in a community laundry room adds $300–$350/month to the bottom line; Most units refreshed over recent years with new flooring, paint, doors, and countertops
