Washington Park Apartments

Washington Park Apartments

Cincinnati, OH
Under Contract
  • Property Type: Apartments
  • Property Size: 33,316 SF / 0.31 Acres / 37 Units

Overview

Capstone Apartment Partners is pleased to present the Washington Park Apartments: a 37-unit affordable asset with a 20-year HAP contract. The HAP contract provides guaranteed rental income from the U.S. Department of Housing and Urban Development (HUD). The property is a well-positioned along Race Street in the trendy Over-the-Rhine entertainment district in downtown Cincinnati. Washington Park has been consistently 100% occupied as current ownership has done an outstanding job of maintaining quality low-income housing for its residents. The current HAP contract runs through July 1, 2025 and can easily be renewed for up to 20 years, depending on the preference of incoming ownership. Washington Park boasts outstanding cash flow and is an excellent opportunity for incoming investors to break into the affordable market or continue to grow their current portfolio.

Investment Highlights

Guaranteed Above Market Rental Income
Well-Maintained Consistently 98%+ Occupied Asset
Trendy Location in Downtown Cincinnati

Contact Information

Stash Geleszinski, CCIM Managing Director P: 513.506.2872
O: 800.746.3175 ext. 705
stash@capstone-companies.com
Sherief Gouda Senior Advisor P: 513.252.1427
O: 800.746.3175 ext. 708
sherief@capstone-companies.com
Nathan Murphy Senior Advisor P: 513.460.5941
O: 800.746.3175 ext. 707
nathan@capstone-companies.com
Corey Mason Investment Sales Advisor P: 513.312.2024
O: 800.746.3175 ext. 735
corey@capstone-companies.com
capstoneapts-logo