5500 Glengate Lane 5501 Glengate Ln Immeuble residentiel 73 lots 2 990 855 € (40 971 €/Lot) Cincinnati, OH 45212

Court Appointed Receiver Sale, opportunity to acquire 5500 Glengate Lane. Offers a rare, large-scale value-add multifamily opportunity in Pleasant Ridge, a desirable neighborhood in Cincinnati, OH. This 5.63-acre site consists of seven (7) three-story garden-style buildings totaling 73 units and approximately 66,400 rentable square feet. The unit mix includes 62 two-bedroom and 11 one-bedroom apartments, complemented by 80 on-site parking spaces.
Built in 1959, the property features spacious layouts and solid mid-century construction, ideal for interior renovations and exterior enhancements. Currently operating at approximately 25% occupancy, the asset is well-positioned for a full repositioning strategy. Investors can unlock significant upside through strategic upgrades, improved management, and lease-up of the vacant units.
Centrally located near I-71 and the growing Pleasant Ridge entertainment district, the property benefits from strong rental demand and long-term growth potential. This is an excellent opportunity for experienced operators to capitalize on scale, location, and a clear path to value creation.
Bidder Registration
All prospective bidders must be pre-approved to bid.
Prospective bidders wishing to be approved must submit the following items no later than July 28, 2025:
Submit evidence of financial capability
Submit $25,000 participation deposit
Submit bidder executed Purchase and Sale Agreement
Auction Date / Times
Auction Starts: Live Now
Auction Ends: July 29, 2025 @ 2pm ET
Sale Terms
A 10% (ten percent) buyer's premium will be added to the highest acceptable bid to determine the final purchase price
As-Is, Where-Is
Sold free and clear of all liens
Taxes are prorated of the day of closing
Receiver will convey insurable title
Financing contingencies are not permitted
Due diligence contingencies are not permitted
Subject to court approval
Winning bidder must increase the total deposit to $150,000 by 12pm ET, July 30, 2025
Tour Dates
Email kurt@prodigyprop.com to be approved to participate in the sale, with questions, or to schedule a tour.
Receiver may, in its sole discretion, accept or reject any offer or bid, for any reason, at any time, without notice.
Investment Highlights
Substantial Value-Add Opportunity
25% in-place occupancy offers immediate lease-up potential
Interior and exterior renovation upside with minimal disruption
Large, Well-Located Parcel
5.63 acres with potential for enhanced amenities or future development
80 on-site parking spaces
Solid Construction & Spacious Layouts
Built in 1959 with classic masonry construction
Well-sized units with natural light and efficient floorplans
Strategic Location with Excellent Access
Minutes to Pleasant Ridge, Norwood, Oakley, and Downtown Cincinnati
Convenient access to I-71
Strong Market Fundamentals
Area experiencing sustained renter demand and development activity
Attractive demographics and growing local amenities