3100 Beal St - Apartments FOR SALE


Warren, OH 44485- Warren/Niles
$2,000,000 USD
216-870-8687
3100 Beal St, Warren, OH for Sale
$2,000,000 USD
Apartments - FOR SALE
1/33
null | 9.49% Cap Rate

3100 Beal St
Warren, OH 44485
Warren/Niles


OVERVIEW

Beal St Apartments is a 24-unit garden-style multifamily asset built in 1974 in Warren, Ohio, offered at just $83,333 per door with a 9.49% cap rate on trailing-twelve actuals. The property is currently 96% occupied with only a single vacancy, and delivered $189,881 in T12 NOI on $230,968 in effective gross income. The T3 annualized numbers are even stronger: $200,529 in NOI, pushing the cap rate above 10%. At this basis, you are buying real, in-place income with room to run. Current average rent sits at $809 per unit per month. The tenant mix is anchored by LG, which leases 14 of the 24 units, providing a reliable, institutional-backed income stream that adds stability to the cash flow profile. Total operating expenses came in at just $41,087 for the trailing twelve, and the only meaningful proforma adjustment is layering in professional management at 6% of EGI ($14,742 annually), since the current owner self-manages. Even fully loaded, EOY 1 proforma NOI holds firm at $189,871 and the 9.49% cap. This is a well-run building that does not need a turnaround to deliver returns. The macro story unfolding in the Warren-Lordstown corridor is hard to ignore. Kimberly-Clark is deploying roughly $960 million into a new manufacturing plant and distribution center, bringing 491-600 jobs by end of 2026 with nearly $50 million in annual payroll. Ultium Cells operates a $2.3 billion battery plant in Lordstown with 1,700 employees. SoftBank is investing $3 billion to convert the former GM Lordstown Assembly into an AI manufacturing facility for the Stargate project. The state has committed $17.4 million in road infrastructure upgrades around the corridor. Billions in capital, thousands of new jobs, and a tight rental market all driving housing demand in a submarket where you can still buy at $83,333 a door. Cash flow is here now, and the upside is being built around you in real time. Let's chat.

FOR SALE DETAILS

PRICE

$2,000,000 USD

PRICE/SF

$82 USD /SF

# OF UNITS

24

PRICE/UNIT

$83,333

CAP RATE

9.49%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Beal Street Apartments

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1974

PARKING SPACES

35

LAND DETAILS

LAND ACRES

1.15 AC

LAND SF

50,202 SF

ZONING

-

APN/PARCEL ID

39-459332

ASK ABOUT THIS PROPERTY

Tal TamirRussell Real Estate ServicesMore Info
216-870-8687

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Tal TamirRussell Real Estate ServicesMore Info
216-870-8687

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