1221-1223 2nd Street NW, New Philadelphia, OH 44663
sale
$2,500,000
|
Apartment
Courtesy Of McInturf Realty
The New Philadelphia Portfolio is a 38-unit residential investment package in New Philadelphia & Strasburg, Ohio, featuring a diversified mix of multifamily and single-family properties that together produce approximately 336,000 dollars in gross annual income and about 200,000 dollars in net operating income, reflecting an 8.0 percent going-in cap rate based on actual performance. This stabilized, income-producing portfolio is supported by real rent roll and trailing twelve-month financials, offering investors immediate cash flow with upside potential through lease-up of select units, rent normalization where current rents are below market, and continued operational efficiency improvements that are projected to increase NOI to roughly 213,000-217,000 dollars and support an estimated 8.5-8.7 percent stabilized cap rate.
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Property Features
- Age: Over 50 Years Old
- Heating System: Forced Air
- Heating System: Natural Gas
- Legal Description: 2 8 1 .441
- MLSID: 5200090
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