1602-1616 Belvo Rd - Apartments FOR SALE


Miamisburg, OH 45342- Miamisburg/Moraine
$860,000 USD
937-554-0922
1602-1616 Belvo Rd, Miamisburg, OH for Sale
$860,000 USD
Apartments - FOR SALE
1/8
null | 8.49% Cap Rate

1602-1616 Belvo Rd
Miamisburg, OH 45342
Miamisburg/Moraine


OVERVIEW

Stabilized asset with significant upside through rent increases. 8.49% Pro Forma CAP. Exceptional opportunity to acquire two 4-family apartment building in one of the most sought-after rental submarkets in Miamisburg. Each building consists of 4-spacious 2-bedroom, 1.5-bath townhome-style units, approx. 1,000 SF each. Highly functional layouts feature private entrances, in-unit laundry, & two-story living with kitchen, living room, laundry & half bath on first floor, & 2 bedrooms & full bath upstairs. Plenty of updates include not limited to: Laminate flooring, concrete patios, exterior lights front and back, New ACs etc. This is a rare opportunity to acquire 8 units on two separate parcels, side by side, in a high-demand rental location. • Gross Scheduled Income: $110,400 (Market Rents $1,150/month) • Other Income (Utility Bill-Backs): $9,703 • Gross Potential Income: $120,103 • Operating Expenses: $51,923 • Net Operating Income (NOI): $72,980

FOR SALE DETAILS

PRICE

$860,000 USD

PRICE/SF

$102 USD /SF

# OF UNITS

8

PRICE/UNIT

$107,500

CAP RATE

8.49%

% LEASED

88%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1986

PARKING SPACES

18

LAND DETAILS

LAND ACRES

0.71 AC

LAND SF

31,010 SF

ZONING

R-4

APN/PARCEL ID

K46-01313-0001,K46-01313-0002

ASK ABOUT THIS PROPERTY

Tushar MehtaBerkshire Hathaway Professional Realty CommercialMore Info
937-554-0922

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Tushar MehtaBerkshire Hathaway Professional Realty CommercialMore Info
937-554-0922

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