330-412-2221

Properties


Listing ID4419700
Price$3,466,400
StatusActive
SqFt 38,143
Acres 2.930
CountyAshtabula
Property TypeCommercial Sale
Property Sub TypeApartment
Seven buildings with 56 residential units. (28)1-bedroom units and (28)2-bedroom units. Five of seven roofs replaced in recent years. All new electrical service in each apartment with each unit separately metered. Two retaining walls installed. Onsite laundry present. 43% of tenants in place more than four years. Rents have not been adjusted to market rates by current ownership. Significant upside in potential gross rents at 2023 HUD FMR plus ability to decrease operating costs can yield 9.08% proforma capitalization rate. Assumable Freddie Mac financing at 4.7%.
© 2023 MLS Now (MLSN). All rights reserved. The data relating to real estate for sale on this web site comes in part from the Internet Data Exchange Program of MLSN. Real estate listings held by IDX Brokerage firms other than Whipple Auction & Realty are marked with the Internet Data Exchange logo or the Internet Data Exchange thumbnail logo and detailed information about them includes the name of the listing Brokers. Information provided is deemed reliable but not guaranteed. Listing courtesy of Keller Williams Grt Cleve NE. Data last updated: Wednesday, February 8th, 2023 at 09:28:49 AM.

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