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$1,595,000
Est. payment /mo
0.43 Acres Lot
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Midrise
Listing Status Active
Purchase Type For Sale
Subdivision Historic Hudson District
MLS Listing ID 226039517
Year Built 1965
Annual Tax Amount $9,655
Lot Size 0.430 Acres
Lot Dimensions 0.43
Property Sub-Type Midrise
Source Columbus and Central Ohio Regional MLS
Property Description
This excellent investment opportunity features a 14-unit all encompassing garden-style apartment building, with one parking lot, one building, roof, waterline, etc. This property is situated on a ±0.43-acre lot in Newark, Ohio, comprising of seven upper-level units and seven main-level units. Each one-bedroom, one-bathroom layout includes comfortable living and kitchen spaces, with many units recently updated. The property benefits from strong, stable demand driven by four long-term military tenants and five tenants utilizing guaranteed-rent LMHA assistance, delivering reliable cash flow.
Operational efficiency and tenant convenience are further enhanced by professional lawn care, street parking alongside 20 on-site rear spaces, and valuable on-site amenities including a laundry facility and downstairs storage units that generate an additional income stream (with the Jetz laundry contract running through August 2027). The property boasts solid maintenance history, featuring five water tanks and four AC units replaced within the past three years. (Note: Sales are conducted via curb offers only--please respect tenant privacy and do not disturb occupants.)
Operational efficiency and tenant convenience are further enhanced by professional lawn care, street parking alongside 20 on-site rear spaces, and valuable on-site amenities including a laundry facility and downstairs storage units that generate an additional income stream (with the Jetz laundry contract running through August 2027). The property boasts solid maintenance history, featuring five water tanks and four AC units replaced within the past three years. (Note: Sales are conducted via curb offers only--please respect tenant privacy and do not disturb occupants.)
Location
State OH
County Licking
Community Historic Hudson District
Area 0.43
Zoning Residential
Rooms
Other Rooms None
Dining Room No
Interior
Equipment No
Laundry No Laundry Rooms
Exterior
Parking Features Common
Schools
High Schools Newark Csd 4507 Lic Co.
School District Newark Csd 4507 Lic Co.
Others
Tax ID 054-270222-00.000
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Listed by Valerie Tivin Best Corporate Real Estate
Nearby Locations
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