Rossmoor is situated off of Rossmoor Pl near the intersection of Weybridge Rd and Kenny Rd, conveniently located near major transportation thoroughfares in the area. Tenants also enjoy immediate access to route 315 and I270 with an abundance of retailers and employers in the area due to the property’s highly strategic location. Hop on the public bus located at the corner of Weybridge and Kenny, and in ten minutes, you’ll arrive at Ohio State University and entertainment opportunities abound.
The 48-unit townhomes were built in 1971, and consist of four two-story buildings, with 12 units in each. Rossmoor boasts an attractive two-bedroom, one-bathroom layout, approximately 850 ft2, with private patios in front and a small, private fenced-in backyard. Each building has one shared basement. Unit amenities could include a washer & dryer in each basement, and a possible dog park, along with central air, individual entrances, and a balcony or patio.
Notably, the property is equipped with tenant-paid electric, and a tenant-paid, gas-forced air heating system, which affords considerable savings to an Owner, especially when the cost associated with heating units of this size is factored into the analysis. And since all the units have exterior entrances, an Owner also incurs virtually no expense for common area utilities.
In addition to the advantageous heating configuration at Rossmoor, current ownership has begun water submetering on about 15 units. Once new ownership completes the water submeter for each individual hot water tank, there won’t be a water expense at all, unless new ownership plans to create common laundry in the basement of each building.
Notable for investors is the extensive rehabilitation that was done to this property over the course of the last few years. Rehab includes the replacement of half of the windows, all roofs are about 10 years old, the parking lot was completely redone and sealed in 2015, and HVAC has been replaced or refurbished to new condition as needed.