246 5th Street Northwest
Updated 7 unit apartment building near Lake Anna Barberton
Marketing description
Updated 7-unit apartment building near Lake Anna in Barberton. The building consists of 7 (1) bedroom / (1) bathroom units with uncovered parking lot to the side of the building. All 7 units have been renovated. Each unit is separately metered for gas/electric. Tenants pay gas and electric. Beautifully decorated kitchens, bath fixtures, newer flooring, fresh paint and appliances throughout. All newer windows. Property is located at the corner of 5th Street and Lake Anna Court. which is walking distance to Lake Anna. Unit Rents: 1) $850, 2) $755, 3) $825 vacant, 4) $885, 5) $850 vacant, 6) $755, 7) $775. Monthly gross rent potential $5,695. Owner left the two units vacant for sale purpose.
Investment highlights
Total Gross income $68,340. Operating Expenses $16,122. Net operating income $52,218. Cap rate 10.99%.
All units have been updated. Newer windows. Roof is estimated to be about 14 years old.
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