600 Plainfield Road, West Lafayette, OH 43845 (MLS # 226033800)
Brought to you by RE/Max Consultant Group
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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.
| DAYS ON MARKET | 1 | LAST UPDATED | 9/4/2026 |
|---|---|---|---|
| YEAR BUILT | 2000 | COUNTY | Coshocton |
| STATUS | Active | PROPERTY TYPE(S) | Residential Income |
| ADDITIONAL DETAILS | |
| AIR | Central Air |
|---|---|
| AIR CONDITIONING | Yes |
| HEAT | Hot Water, Natural Gas |
| LOT | 6.3 acre(s) |
| PARKING | Common |
| TAXES | 29972 |
| UTILITIES | Natural Gas Available, Water Available, Sewer Available, Electricity Available |
| WATER | Public |
MORTGAGE CALCULATOR
TOTAL MONTHLY PAYMENT
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Listing provided by Forge Real Estate Advisors, Daryl Allen Miller
Listing information is deemed reliable, but not guaranteed.
This IDX solution is (c) Diverse Solutions 2026.