625 Mill St - Apartments FOR SALE
New Lexington, OH 43764 |
$2,160,000 USD
216-255-5378
625 Mill St
New Lexington, OH 43764
HIGHLIGHTS
- Stabilized 36-Unit Multifamily Asset in New Lexington, Ohio – Fully leased property with consistent historical occupancy.
- Core/Core-Plus Investment Profile – Low operational risk supported by stabilized performance, offering durable income with upside potential.
- Favorable Market Dynamics – Limited rental housing inventory and strong demand for affordable housing underpin long-term tenant stability.
- Recent Capital Improvements – Well-maintained physical condition with recent upgrades that enhance asset durability.
- Strategic Southeastern Ohio Location – Positioned within commuting distance to both Lancaster and the Columbus MSA.
- Attractive Relative Yield – Offers a compelling cap rate and income return compared to similar assets in larger Ohio metros.
FOR SALE DETAILS
PRICE
$2,160,000 USD
PRICE/SF
$90 USD /SF
# OF UNITS
36
PRICE/UNIT
$60,000
CAP RATE
7.32%
% LEASED
-
SALE TYPE
Investment
BUILDING DETAILS
PROPERTY NAME
625 Mill St For Sale & Lease
PROPERTY TYPE
Multi-Family
PROPERTY SUBTYPE
Apartments
TOTAL BUILDING SIZE
-
STORIES
1
YEAR BUILT
1973
PARKING SPACES
-
LAND DETAILS
LAND ACRES
1.86 AC
LAND SF
81,074 SF
ZONING
-
APN/PARCEL ID
270029880000
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216-255-5378
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216-255-5378
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