Sweetbriar Lane Apartments

Highlights:

• Average Occupancy Rate: 100.0

Description:

Offered at $3,795,000 — 8.70% cap on stabilized inplace NOI of $330,007 ($67,768/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, delivered 100% leased at closing, offered at $3,795,000 — an 8.70% capitalization rate on stabilized in-place income.


This is a stabilized, cash-flowing community with a meaningful capital item already handled: the seller has fully replaced the exterior siding across the entire property — an approximately $200,000 project completed at the seller's cost — giving a buyer a brand-new building envelope on all 56 units. Per ownership, water heaters have been updated in roughly two-thirds of the units. Unit interiors and remaining systems are offered in their current, as-is condition, leaving a buyer clear room to add value through unit-level improvements over time. Fifty-five of the fifty-six units share a spacious two-bedroom, one-bath floor plan, keeping operations simple.


The income is real and growing. Scheduled rents annualize to $561,648, and vacated units are re-leasing at $900 — the mark-to-market rate the upside is built on is being achieved today, not projected. With legacy units still priced below that level, a buyer acquires a stabilized 8.70% going-in yield and a demonstrated path toward a 9%-plus yield on cost as rents continue to turn.


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.

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Listing ID: 86a16887-d6e5-4b12-a5e6-2119e842d16b