CRE i Ohio

Marcus & Millichap brings $11.6 million multi-family listing to Cincinnati market

Marcus & Millichap Real Estate Investment Services has retained the exclusive listing for Ashley Woods, a 352-unit, 314,880-square-foot multi-family property in Cincinnati.

Marcus & Millichap Real Estate Investment Services has retained the exclusive listing for Ashley Woods, a 352-unit, 314,880-square-foot multi-family property in Cincinnati.

The listing price of $11.6 million represents $33,097 per unit and $37 per square foot.

Scott Harris, a senior vice president of investments, and Kyle Shoemaker, a multi-family property investment specialist, both in Marcus & Millichap's Oak Brook, Ill., office, and Kurt Shoemaker, a multi-family property investment specialist in Cincinnati, are representing the seller, Ashley Woods Limited Partnership, an affiliate of the Haley Real Estate Group LLC, based in Omaha, Neb.

“Ashley Woods offers potential buyers the opportunity to acquire a well-maintained and well-occupied apartment complex serving low- to moderate-income tenants in northwest Cincinnati,” says Shoemaker.

Built in 1970 on 23.9 acres, Ashley Woods has a variety of garden-style and townhouse floor plans. The unit mix includes 32 one-bedroom garden units, 108 two-bedroom/two-bath garden units, 176 two-bedroom/two-bath townhouse units and 36 three-bedroom/two-bath garden units.