1500-1525 Stewart Cir NW - Apartments FOR SALE


Warren, OH 44485- Warren/Niles
$1,200,000 USD
330-562-6188
1500-1525 Stewart Cir NW, Warren, OH for Sale
$1,200,000 USD
Apartments - FOR SALE
1/13
null | 8.02% Cap Rate

1500-1525 Stewart Cir NW
Warren, OH 44485
Warren/Niles


HIGHLIGHTS

  • Cul De Sec, fenced in backyard, 3 buildings, 5 parcels, Central AC, new roofs, new solar lights
  • over 8% CAP rate with below market current rent with 3 vacancies, over 9% if full, over 11% based on market proforma
  • Close to all shoppings, grocery stores, restaurants

OVERVIEW

Attention Investors! This Portfolio comprises three adjacent brick 6 unit buildings for a total of 18 units that sit in a private, quiet cul-de-sac street in the city of Warren, Ohio. Each building is 3 stories and has one 750 sf 1B unit and five 1100 sq 2B units with spacious porches/balconies and covered carport spaces and storage lockers for each unit. All units have central air and tenants pay their own water, gas & electric. The complex currently has an 8% cap rate with current below market rent with 3 vacancies, 9% if full and a market proforma over 10%. Each building has a common area with coin-op laundry. Many improvements including 3 new roofs on the main buildings and 1 carport roof replacement, new windows, furnaces, AC condensers, energy efficient lighting, cosmetic upgrades in common areas. Convenient to restaurants, shops, grocery stores, and local amenities. A great value-add opportunity in a supply-constrained rental market. Inspect after an accepted offer. Call, text or email Tina Li with questions. 440-490-6608, tinali@howardhanna.com

FOR SALE DETAILS

PRICE

$1,200,000 USD

PRICE/SF

$59 USD /SF

# OF UNITS

15

PRICE/UNIT

$80,000

CAP RATE

8.02%

% LEASED

83%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1964

PARKING SPACES

26

LAND DETAILS

LAND ACRES

3.71 AC

LAND SF

161,608 SF

ZONING

MF

APN/PARCEL ID

39-566575,39-566580,39-566585,39-566590,39-566595

ASK ABOUT THIS PROPERTY

Tina LiHoward HannaMore Info
330-562-6188

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Tina LiHoward HannaMore Info
330-562-6188

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.