247 & 253 S Liberty Street, Delaware, OH 43015 (MLS# 220031867)

247 & 253 S Liberty Street, Delaware, OH 43015

$1,230,000

Property Type: Multi-Family Lot Size (sq. ft.): 36,590 Status: Closed

Current Price: $1,230,000 List Date: 9/11/2020 Last Modified: 2/09/2025

Overview

Description

18 multifamily units that are located in downtown Delaware, Ohio. Sitting on .83 ares, the property is located minutes from Ohio Wesleyan University, as well as all of the restaurants, shops, and amenities that downtown Delaware has to offer. This property has significant upside potential and the opportunity to add substantial value within the first year. Currently, the property is 85% occupied with 15/18 units leased. Two of the one bedroom vacancies are rent ready and could be leased at anytime. Based on the 2020 income/expense projections the NOI will be approx $84,830. This property has tremendous upside potential

Listing Details MLS# 220031867

Location Property Info

Original List Price: 1230000
Property Sub Type: Flat
Street #: 247 & 253
Street PreDirection: S
Street Name: Liberty
Street Suffix: Street
County: Delaware
State: OH
Zip Code: 43015
School District: DELAWARE CSD 2103 DEL CO.
Township: None

OfficeContract Info

MLS Entry Date: 2020-09-04

General Property Info

Number of Units: 18
Total Parking: 35
Year Built: 1968
Built Prior to 1978: Yes
Acreage: 0.84
Use Code: 401 - APARTMENT:4-19 UNITS

Tax Info

Parcel #: 519-433-20-026-000
Mult Parcels/Sch Dis: Yes
Addl Parcel Numbers: 519-433-20-027-000
Assessment: $161,820
Tax Abatement: No
Taxes (Yrly): 11983
Tax Incentive: No

Status Change Info

Under Contract Date: 2020-09-14
Sold Date: 2020-10-30

1 Bedroom

1 Bedroom # of Units: 6

More Information

2 Bedroom

2 Bedroom # of Units: 8

3 Bedroom

3 Bedroom # of Units: 4

Financials

Financials ForYearOf: 2020

Auction Info

Auction/Online Bidding Y/N: No

Location & Property Info

City (Mailing Addr): Delaware
Corp LimitPerAuditor: Delaware

Office/Contract Info

For Sale: Yes
Exchange: No

Remarks & Misc

Property Description: 18 multifamily units that are located in downtown Delaware, Ohio. Sitting on .83 ares, the property is located minutes from Ohio Wesleyan University, as well as all of the restaurants, shops, and amenities that downtown Delaware has to offer. This property has significant upside potential and the opportunity to add substantial value within the first year. Currently, the property is 85% occupied with 15/18 units leased. Two of the one bedroom vacancies are rent ready and could be leased at anytime. Based on the 2020 income/expense projections the NOI will be approx $84,830. This property has tremendous upside potential

Income/Expenses

Gross Income: 144856
Net Operating Income: 84830
Total Expenses: 60026

Addl Acceptance Cond

None Known: Yes

Construction

Brick: Yes

Heat Fuel

Gas: Yes

Services Available

Electricity Available: Yes
Natural Gas Available: Yes
Sewer Available: Yes
Storm Sewer: Yes
Water Available: Yes

Miscellaneous

W/D Hookups: Yes

Heating

Forced Air: Yes

Air Conditioning

Central Air: Yes
Window Unit(s): Yes

Owner Pays

Trash: Yes

MLS Primary PhotoSrc

Realtor Provided: Yes

Property Features

Addl Acceptance Cond: None Known Owner Pays: Trash Heat Fuel: Gas Heating: Forced Air Air Conditioning: Central Air; Window Unit(s) Construction: Brick Services Available: Electricity Available; Natural Gas Available; Sewer Available; Storm Sewer; Water Available Miscellaneous: W/D Hookups MLS Primary PhotoSrc: Realtor Provided

Listing Office: Aspire Realty Services

Listing Agent: Andrew Sylvester

Last Updated: February - 09 - 2025

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