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Key Details
Sold Price $518,000
Property Type Condo
Sub Type Apartment
Listing Status Sold
Purchase Type For Sale
Subdivision Maple Grove Park
MLS Listing ID 5011448
Sold Date 09/30/24
Construction Status Updated/Remodeled
HOA Y/N No
Year Built 1942
Annual Tax Amount $1,845
Tax Year 2023
Lot Size 0.430 Acres
Acres 0.43
Property Description
11% cap rate as is with ALL large capital improvements recently updated. New Windows, New Sidings, New Roof, New Mechanicals- each unit even got brand new A/c installed. This multi-family currently brings in $81k/year gross rent with super low expenses at just $20k/year (which includes 10% mgmt, insurance, 5% maintenance, , trash, landscaping, utilities and the rental registration. This 6 Unit consists of 4- 4 bedroom units and 2- 1 bedroom units. The 4 beds are all with PMHA and receive $1400/mo (which is about to be increased to $1500 because they are renting so fast!) The 1 beds are at $650 each and have lots of room for growth. Tenants pay ALL off their own utilities, including water & sewer. Seller is open to up to $50k of seller financing for the right buyer. Windham is a small town between 4 large metropolitan areas including Cleveland, Warren, Youngstown and Canton. Owning the nicest building in a small town creates nearly guaranteed long term tenants ( and thanks to PMHA, Guaranteed rent too) Contact Erin for more information.
Location
State OH
County Portage
Interior
Heating Forced Air
Cooling Central Air
Fireplace No
Exterior
Water Access Desc Public
Building
Sewer Public Sewer
Water Public
Construction Status Updated/Remodeled
Schools
School District Windham Evsd - 6711
Others
Tax ID 41-057-10-00-155-000
Acceptable Financing Cash, Conventional, 1031 Exchange
Listing Terms Cash, Conventional, 1031 Exchange
Financing Cash
Special Listing Condition Real Estate Owned
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Bought with Jessica C Fisk • EXP Realty, LLC.