$2,700,000
 $17,963 est/mo Sourced by Back At You

600 Plainfield Road,West Lafayette, OH 43845

West Lafayette, OH 43845

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Description

Rare LIHTC-to-market-rate value-add opportunity in West Lafayette, OH (Coshocton County). Lafayette Mills Apartments is a 40-unit garden-style community built in 2000, comprising 28 two-bedroom/one-bath and 12 three-bedroom/one-bath units across 5 walk-up buildings with 93 on-site surface parking spaces. The property is 100% occupied and has been well-maintained under active compliance monitoring, with no material deferred maintenance identified. In-place rents average $758/unit against a $980/unit market rate -- roughly 29% upside as the property's LIHTC and HOME rent restrictions phase out. The extended-use LIHTC compliance period is scheduled to expire 12/31/2028, with HOME-assisted units restricted through 12/31/2029 (buyers should independently verify both dates with OHFA and the recorded Land Use Restriction Agreement). Offered at $2,700,000 ($67,500/unit, $41.03/SF), with a 9.81% cap rate once converted to market rents. Turnkey operations -- lease-up is complete, and the opportunity is to capture the rent upside as restrictions lift.

Details

MLS #226033800
Listing TypeFor Sale
Sub-TypeResale
StatusContingent
Year2000
Days On Site41
Listing Provided ByForge Real Estate Advisors | Daryl Allen Miller

Features

Units40
Building(s)5
Acreage6.30

Taxes

Property29972

Area Information

StateOH
CountyCoshocton
CityWest Lafayette
Zip Code43845
School DistrictRIDGEWOOD LSD 1602 COS CO.
High SchoolRIDGEWOOD LSD 1602 COS CO.
Listing VS Median (in 43845)
Price:
$2,700,000
low | high
Med:
$159,900
100% of Average
On site:
41
low | high
Med:
4
100% of Average
Sourced by Back At You

Market Activity 43845

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Contact

Learn More About This Property

Ibrahim Ayad

Ibrahim Ayad

e-Merge Real Estate Unlimited

2024005973 (380) 206-9317ibrahim.ayad@e-merge.com
StateOH
CountyCoshocton
CityWest Lafayette
Zip Code43845
School DistrictRIDGEWOOD LSD 1602 COS CO.
High SchoolRIDGEWOOD LSD 1602 COS CO.
Listing VS Median (in 43845)
Price:
$2,700,000
low | high
Med:
$159,900
100% of Average
On site:
41
low | high
Med:
4
100% of Average
Sourced by Back At You
Listing Updated: October 2, 2026 at 10:50:44 AM PDT

Ibrahim Ayad - e-Merge Real Estate Unlimited Polaris - e-Merge Real Estate