City (Mailing Addr): Marion
Corp LimitPerAuditor: Marion
For Sale: Yes
Exchange: No
# of Buildings: 17
Built Prior to 1978: Yes
Number of Units: 35
Year Built: 1920
Acreage: 0.25
Mult Parcels/Sch Dis: Yes
Addl Parcel Numbers: 12103000-2900,12419000-3200,
12205010-1500, 12206000-1100,
12313000-2100, 12314000-4700,
12206000-1300, 12204000-0600,
12212000-1000, 12205010-0500,
12206010-2700
Tax Abatement: No
Tax Incentive: No
Parcel #: 12103000-2800
Property Description: Incredible opportunity to own a 35 unit cash flowing portfolio in Marion, Ohio. Consists of a 15 unit complex complete with a laundry facility and a 3000sf garage/office, as well as 10 doubles in close proximity allowing for efficient property management. All units have been updated over time by owners and rents are at market rates making this a true turnkey opportunity with a current 9.5% cap rate! The owners self manage and would assist new owners with transfer of their online management system through Tenant Cloud.
Gross Income: 343000
Net Operating Income: 270000
Total Expenses: 73000
R.E. Taxes: 13108
Property Insurance: 18928
Repairs&Maintenance: 13240
Misc Expense: 15000
Water Expense: 10610.8
1 Bedroom # of Units: 6
1 Bedroom Month Rent Per Unit: 650
2 Bedroom # of Units: 25
2 Bedroom Month Rent Per Unit: 850
3 Bedroom # of Units: 4
3 Bedroom Month Rent Per Unit: 1100
3 Car Garage: 1
On Street: 1
Common: 1
Electricity Available: 1
Natural Gas Available: 1
Sewer Available: 1
Storm Sewer: 1
Water Available: 1
Other # of Units: 2
Other Month Rent Per Unit: 1000
Basement: 1
Security System: 1
Gas: 1
Trash Collection: 1
Water: 1
Electricity: 1
Auction/Online Bidding Y/N: No
Original List Price: 2850000
Sold Price: $2,850,000
Property Sub Type: Mixed Use
Street #: 132
Street PreDirection: E
Street Name: George
Street Suffix: Street
County: Marion
State: OH
Zip Code: 43302
School District: MARION CSD 5102 MAR CO.
Township: Marion
Status: Closed
MLS Entry Date: 2025-01-27
Under Contract Date: 2025-01-27
Sold Date: 2025-03-31
Sold Price: $2,850,000
Addl Acceptance Cond: None Known
Parking Features: 3 Car Garage; On Street; Common
Owner Pays: Sewer
Tenant Pays: Electricity; Gas; Trash Collection; Water
Heat Fuel: Gas
Heating: Forced Air
Air Conditioning: Central Air; Other
Construction: Brick; Vinyl Siding
Sewer: Public Sewer
Services Available: Electricity Available; Natural Gas Available; Sewer Available; Storm Sewer; Water Available
Miscellaneous: Basement; Security System
MLS Primary PhotoSrc: Realtor Provided
