Eight-Unit Apartment Building
For Sale
$600,000
45 S Wright Ave, Fairborn, OH 45324
Two brick apartment buildings offer consistent one-bedroom layouts with basement storage and HVAC service areas.
Property Size3,744 SF
Price / SF$160.26
Days on Market47
Property Features for 45 S Wright Ave
General Information
Standard status
Active
Size
3,744 SF
Property subtype
Multi-Family
Units
Unit Mix
8 x 1BR/1BA
Multifamily Units
8
Additional Details
Asking Price
$600,000
Building Details
Year Built
1942
Buildings
2
Construction
brick
Listing Agency:
Comey & Shepherd Realtors
(513) 607-4006
Listed By:
Streetlight Realty
(937) 626-4181
Source:
Streetlightrealtors
Added: Sep 7
Changed: Oct 21
Last Checked: Oct 23 at 6:45AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Comey & Shepherd Realtors
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Investment Insights
Based on property information with market context.
This apartment building package includes two brick four-family buildings at 45 S. Wright Ave. and 37 Wright Ave., offering a combined eight units and 3,744 square feet of property. Each apartment is configured with one bedroom and one bathroom. Basement areas provide HVAC equipment and tenant storage. The buildings date to 1942, with several furnaces and apartments updated.
The properties are positioned near shopping and restaurants and close to Wright Patterson Air Base in Fairborn. The sale includes both buildings as a package, creating a single offering with consistent unit layouts and shared operating characteristics. Professional management is in place, and the buildings are described as well kept.
The properties are positioned near shopping and restaurants and close to Wright Patterson Air Base in Fairborn. The sale includes both buildings as a package, creating a single offering with consistent unit layouts and shared operating characteristics. Professional management is in place, and the buildings are described as well kept.
Key Highlights
- Eight total units across two four‑family brick apartment buildings
- All units feature one bedroom and one bathroom
- 3,744 square feet of property size
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$31,891
Cap Rate
5.32%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$637,820
$637.8K
Cap Rate 7%
$455,586
$455.6K
Cap Rate 9%
$354,344
$354.3K
Market Conditions
NOI Build-Up for 3,744 SF
Gross rent
$60.7K $16.20/SF
− Vacancy
−$2.7K −$0.71/SF
EGI
$58.0K $15.49/SF
− OpEx
−$26.1K −$6.97/SF
NOI
$31.9K $8.52/SF
Area
Greene County, OH
Vacancy
4.40%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$637,820
Cap Rate 7%
$455,586
Cap Rate 9%
$354,344
Alternative Uses
Best Use
Apartment 5plus
$455.6K
$398.6K – $531.5K
NOI $31,891 @ 7.0% cap · market cap 5.32%
Second Best
—
—
no second resolved use
Theoretical Best
Office B
$704.0K
$616.0K – $821.3K
NOI $49,278 @ 7.0% cap · market cap 8.21%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Lease Details
8
Residential units
Location Intelligence
Trade Area within ½ mile
612
Businesses Nearby
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Business Placement
Demographics for 45324, OH
40,449
Population
19,729
Households
2.1
Avg Household Size
34
Median Age
30%
College-Educated
92%
High-School Grad
33.1 sq mi
ZIP Area
1,222
Density / Sq Mi
$59,861
Median Household Income
$37,348
Median Earnings
$989
Median Rent
$177,700
Median Home Value
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Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Apartment building - Two brick apartment buildings offer consistent one-bedroom layouts with basement storage and HVAC service areas.
Where is this apartment building located?
The property is located at 45 S Wright Ave Fairborn, OH.
What is the asking price?
The asking price for this property is $600,000.
What are key features of this property?
This property features: Eight total units across two four‑family brick apartment buildings; All units feature one bedroom and one bathroom; 3,744 square feet of property size
