Prime at Wright
For sale1300 Cimarron Cir, Fairborn, OH 45324
Property type
Multifamily, Student Housing
Unit / Space count
90
Occupancy
90%
Number of buildings
8
Bedroom count
292
Property description
This offering represents the opportunity to acquire a community in Fairborn, Ohio, pedestrian to Wright State University and Wright-Patterson Air Force Base, which serves over 38,000 employees. Prime at Wright is a 90-unit, 292-bed community with a mix of two-, three-, four-, and five-bed units built in 1986 and 2007. 43 units are townhomes. Currently, there are two separate groups master leasing approximately 21% of the bedrooms (Liberty Lodging and Wilberforce University). Prime at Wright offers amenities to its residents including a fitness center, study areas, game room, fire pits, community kitchen with coffee bar, media center, tanning bed, walking path to campus, and underground parking garage. This offering represents 100 percent fee-simple interest in Prime at Wright, which could be acquired free and clear of any debt or with assumable debt in-place until 2031.
Property highlights
- Below Market RentsPrime at Wright’s rents sit below market. The two-bed townhomes are especially below market and could potentially increase rent by $400/month/unit. Rents at three- and four-bed units could also be increased.
- 11% Increase in Rental Income Potential Through RenovationsAn incoming investor could renovate all units to create a potential 11% increase in rental income, equating to approximately $63/bed and $220,000 of annual rental income.
- Adjacent to Wright State UniversityPrime at Wright is located within walking distance of Wright State University, with a dedicated walking path providing direct connectivity to campus.
- 12% Enrollment Growth Since 2022Wright State’s overall enrollment increased again for fall 2026, with 12,157 students enrolled. This is a 2% increase from fall 2025 and a 12% increase since 2022. First-time student enrollment has grown even faster, increasing 43.5% since 2021.
- Limited Student Housing CompetitionThere is only one other purpose-built student housing community in this market, which means there are a total of 424 student housing beds in the market serving over 12,000 students.
- Adjacent to One of Ohio’s Largest Employment EnginesPrime at Wright benefits from its location between Wright State University and Wright-Patterson Air Force Base, providing exposure to both student and professional housing demand. Wright-Patterson employs more than 38,000 military personnel, civilians, and contractors and generates an estimated $6.5 billion in annual economic impact, supporting a deep base of aerospace, defense, technology, and engineering employment surrounding the property.
- Over $1,000,000 of Recent Capital InvestmentOwnership has invested over $1 million since 2021 across flooring, interiors, HVAC, appliances, fixtures, and landscaping. These expenditures reduce near-term deferred maintenance needs while allowing a new owner to focus additional capital on targeted improvements capable of supporting future rent growth.
- Diverse Tenant BaseBecause of its proximity to both Wright State and Wright-Patterson Air Force Base, Prime at Wright appeals to both students and conventional multifamily renters through a partial master lease with Liberty Lodging that serves active military personnel.