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