This property is Off-Market
690 King St. Apt 1
Mansfield, OH 44903 ·
170 Units · Multifamily For Sale
Northwest Village Apartments
|Price||N/A||Property Use Type||Investment|
|No. Units||170||Commission Split||3%|
|Building Size||180,000 SF||Cap Rate||11%|
|Property Sub-type||Government Subsidized||Lot Size||14 AC|
|Listing ID: 15804061||Date Created: 07/15/2008||Last Updated: 11/18/2009|
Early 1970 Vintage Multi Family apartment complex. 170 units total, 70, 1 and 2 bedroom garden style, 100- 2 and 3 bedroom Townhomes. Most have section 8 vouchers, 40 units are under section 8 HAP contract. Great cash flow, low fixed costs and maintenance costs. Management is already in place and stays with the property. All units but 2 have been renovated. All maintenance items are done in house. 2007 Gross Rents 703,000. NOI 400k. 2008 income was 743k+ and expenses are approximately 275k. No prepayment penalty on the loan, and is a viable investment for FHA 223 F HUD or tax credit financing. More information available upon request. I am not a broker but will pay a commission to buyers broker.
Located in Mansfield, Ohio 44903. 690 King St Apt.1. From Columbus, Ohio 1 hour North off of 71, then 30 west (5 miles) to 39 (springmill) right on to King St.
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