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600 Plainfield Road

West Lafayette, OH 43845
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Bed --

Bed

Bath 0

Bath

Acres6.30

Acres(Lot)

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 r ecorded 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.

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Detail Ic Property Details

Property Type : Residential Income

Price : $2,700,000

AD Id : 91035938

MLS Id : 226033800

Lot Size : 6.30 Acres

Tax Amount : 29972.00

Year Built : 2000

County : Coshocton

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Feature Features

  • Heating & Cooling

    Has Heating: Yes Heating: Hot Water, Natural Gas Has Cooling: Yes Cooling: Central Air

  • Building Information

    Year Built: 2000 Private Pool: No

  • Lot Information

    Main Square Feet: 6.3 Lot Size Acres: 6.3 Lot Size Square Feet: 274428

  • Listing Price Information

    Listing Price: $2700000

  • Tax Information

    Parcel Number: 02000-001-079-00 Tax Year: 2025 Annual Tax: $29972

  • Parking Information

    Parking Total: 93 Common

  • Utility Information

    Natural Gas Available, Water Available, Sewer Available, Electricity Available
  • Location Information

    WaterSource: Public
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Nearby Home Value

Address Estimate Bed Bath Sq. Ft Lot Size
57806 Township Road 261, West Lafayette, OH, 43845 $159,900 2 1 -- 5.03 Acres
22122 Valley View Drive, West Lafayette, OH, 43845 $280,000 3 2 -- 0.23 Acre
21636 Meadow Drive, West Lafayette, OH, 43845 $85,000 2 2 1,120 0.48 Acre
21083 State Route 751, West Lafayette, OH, 43845 $498,900 3 3 1,536 6.12 Acres
19701 Township Road 160, West Lafayette, OH, 43845 $4,150,000 5 4 -- 132.55 Acres
19701 Township Road 160, West Lafayette, OH, 43845 $3,470,000 5 4 -- 122 Acres
19701 Township Road 160, West Lafayette, OH, 43845 $749,700 3 2 -- 10 Acres
105 E Union Avenue, West Lafayette, OH, 43845 $260,000 3 2 1,210 0.17 Acre
324 Fairview Street #91, West Lafayette, OH, 43845 $106,000 3 2 1,276 --

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ByOwner last updated this listing 09/07/2026 @ 07:41

MLS: 226033800 LISTED BY: Daryl Miller, Forge Real Estate Advisors 614-665-5793 SOURCE: Columbus and Central Ohio Regional MLS

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