For more information on this property, contact Joey Marino at 330-412-2221 or

5219 Jaycee Avenue
Ashtabula, Ohio OH 44004
Price: $3,466,400
Listing ID 4419700
Status Active
SqFt 38,143
Acres 2.930

Property Description:

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%.

Primary Features

County: Ashtabula
Property Sub Type: Apartment
Property Type: Commercial Sale


Above Grade Finished Area: 38143
Basement: None
Basement: no
Building Features: Pole Sign
Cooling: yes
Cooling Type: Wall Unit(s)
Flooring: Carpet
Levels: One
Stories: 1
Stories Total: 1


Lot Size Source: Assessor
Lot Size Units: Acres
Parking Features: Driveway, On Site, Outside, Private
Roof: Asphalt, Fiberglass, Flat
Sewer: Public Sewer
Water Source: Public


Building Area Total: 38143
MLS Area Major: Ashtabula
Postal City: Ashtabula
State Or Province: OH
Township: Ashtabula City


Days On Market Replication: 43
Days On Market Replication Date: 2022-12-13T00:00:00+00:00
Days On Market Replication Increasing: yes
Documents Count: 2
Permission: IDX
Property Sub Type Additional: Apartment
Year Built: 1995
Year Built Details: Actual YBT


Lease Considered: no
Listing Terms: Assumable, Cash, Conventional, Trade
Net Operating Income: 178316
Owner Pays: Sewer, Trash Collection, Water
Ownership: Principal/NR
Possession: Delivery Of Deed
Tenant Pays: Cable TV, Electricity
Total Actual Rent: 327788

Zoning Info

Area Info

© 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: Thursday, March 23rd, 2023 at 06:43:30 PM.

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