Sweetbriar Lane Apartments

$3,833,759

1917-2011 Sweetbriar Ln, Springfield, OH 45505

For Sale

Multifamily

Active

Last Updated: 08/18/2026

Details:

Building Size: 58,538 sqft

Lot Area: 5.45 acres

Units: 56

Year Built: 1952

Floors: 1

Description:

Offered at $3,833,759 — 7.50% cap on in-place NOI of $287,532 ($68,460/unit)
Delivered 100% leased at closing — a stabilized asset, not a lease-up play
Brand-new exterior: seller-funded re-siding of all 56 units (~$200,000), completed before closing — zero deferred envelope capital to the buyer
Below-market rents with recent leases signing $850–$950 and clear mark-to-market upside approaching a 9% yield on cost
Efficient, uniform asset — 55 of 56 units are two-bed / one-bath, simplifying turns and management
Tenant utility reimbursement in place, supporting a healthy operating margin

Coldwell Banker Commercial | Heritage is pleased to present Sweetbriar Lane, a 56-unit garden-style apartment community in Springfield, Ohio, offered at $3,833,759 — a 7.50% capitalization rate on in-place income.

The community is being delivered fully stabilized and improved. The seller is re-siding the entire property — an approximately $200,000 capital project completed at the seller's cost — and re-leasing units in step with that work, so a buyer takes over a 100%-leased asset with a brand-new building envelope and no deferred exterior capital. Fifty-five of the fifty-six units share a spacious two-bedroom, one-bath floor plan, keeping turns, renovations, and management simple.

The income is real and growing. Scheduled rents annualize to $561,648, well above trailing collections, and recent leases have signed between $850 and $950 — establishing clear mark-to-market runway across legacy units still priced below those levels. A buyer acquires a stabilized 7.5% going-in yield with a documented path approaching a 9% yield on cost as rents move to market.

Sweetbriar Lane also sits at the center of one of Ohio's most compelling growth stories. In July 2026, Electra selected Springfield for an $850 million advanced-aircraft manufacturing facility expected to create nearly 2,000 jobs — a direct, durable driver of workforce-housing demand in a county of roughly 135,000, anchored along the I-70 corridor between Dayton and Columbus.