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MULTI-UNIT HOUSING
INVESTMENT OPPORTUNITY
  
24 UNIT APARTMENT COMPLEX:
129-175 W. MAIN STREET
MT. STERLING, OH 43143


   
 
PROPERTY OVERVIEW
LOCATION:

129-175 W. MAIN STREET
MT. STERLING, OH 43143
UNIT OVERVIEW :

THREE (3) BUILDINGS WITH EIGHT (8) UNITS IN EACH BUILDING TOTALING TWENTY-FOUR (24) TWO (2) BEDROOM, ONE (1) BATH UNITS
UNIT SPECIFICS:

APPROXIMATELY 820 SF PER UNIT
ALL UNITS HAVE CENTRAL HEATING & AIR CONDITIONING
FORTY-EIGHT (48) OFF-STREET PARKING SPACES (TWO PER UNIT)
NEW HEAT PUMPS INSTALLED 1997-1998
NEW SIDING AND WINDOWS IN 2002
NEW ROOFS INSTALLED (TWO IN APRIL 2008, ONE IN 2004)
PARKING LOT SEALED & STRIPED IN 2005
RENTAL INFORMATION :

ALL TWENTY-FOUR [24] UNITS ARE FULLY LEASED
NEW LEASES NOW RENTING AT $485/MONTH WITH $400 DEPOSIT

INVESTMENT INFORMATION:
GROSS SCHEDULED INCOME:   $129,900
OPERATING EXPENSES:    
-
 $33,767
SET-ASIDE FOR RESERVES:  
-
 $15,792
EFFECTIVE NOI:   $80,341.28
EFFECTIVE CAP RATE:   8.5%
CASH ON CASH RETURN RATE:   12.1%
ASKING PRICE:

$950,000
CONTACT: FOR MORE INFORMATION, PLEASE CONTACT MATT GREGORY @
614-629-5234
  AGENT: MATT GREGORY / 614-629-5234
605 S. FRONT STREET / STE 200 / COLUMBUS, OH 43215
614-224-2400 / WWW.OHIOEQUITIES.COM
 
LAST UPDATED: 05/06/08