Listed by Danberry Realtors
$1,645,000
1624-1650 Michigan Ave. Maumee Ohio 23 Units
Details
Property Type Multifamily
Sub Type Apartment Building
Square Footage 16,482
Units 23
Beds 23
Cap Rate 6.53%
NOI $107,469
Tenancy Multi
Pro-Forma Cap Rate 7.65%
Pro-Forma NOI $125,797
Class B
Year Built 1963
Buildings 5
Stories 1
Investment Type Stabilized
1624-1650 Michigan Ave. Maumee Ohio- 23 units
Marketing description
This is a 23-unit multifamily property located in Maumee, Ohio, featuring five brick ranch-style buildings constructed in 1963. The property includes 17 one-bedroom units of approximately 600 square feet and 6 two-bedroom units of approximately 800 square feet. All units feature separately metered gas forced air heating, central air conditioning, stoves and refrigerators, and washer/dryer hookups in each unit. The property features newer gable roofs across all buildings. Located on Michigan Avenue with access via Heatherdowns to South on Eastgate.
Investment highlights
- 23 units in 5 buildings
- Brick Ranch Style construction
- Gable all newer roofs
- 1-story buildings
- 17 one-bedroom and 6 two-bedroom units
- 600 and 800 sq ft units approximately
- Separately metered Gas forced air heating
- Central Air cooling
- Stoves and refrigerator in each unit
- Washer and Dryer hook ups in each unit (some units provided)
- Built in 1963
Listing Contacts
Listed by Danberry Realtors
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$107,469.00
$8,955.75/mo
Valuation Metrics
0
DSCR
6.53%
Cap Rate
6.53%
ROI
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