CRE i Ohio

Marcus & Millichap sells apartment complex in Cincinnati suburbs for more than $13 million

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Marcus & Millichap recently closed the sale of Independence Oaks Apartments, a six-building 144-unit apartment complex in Independence, Ken.

Marcus & Millichap recently closed the sale of Independence Oaks Apartments, a six-building 144-unit apartment complex in Independence, Ken.

The $13.75 million sales price comes out to $95,486 a unit, which is the highest price-per-unit recorded for a suburban Cincinnati multi-family commercial real estate property sale so far this year.

Nicholas Andrews, Joel Dumes and Stan Falk of Marcus & Millichap’s Cincinnati office represented both the buyer and the seller in the transaction.

Located at 2050 Boxer Lane in Independence, the property is set between three wooded acres and several restaurants and retailers, including a Kroger supermarket.