Historical Multifamily Sale Listing - Northwest Village Apartments

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Northwest Village Apartments

690 King St. Apt 1, Mansfield, OH 44903

N/A

170 Units | Multifamily

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Multifamily Property - Off Market

Price:
N/A
No. Units:
170
Building Size:
180,000 SF
Property Type:
Multifamily
Property Sub-type:
Government Subsidized
Property Use Type:
Investment
Commission Split:
3%
Cap Rate:
11%
Occupancy:
94%
Lot Size:
14 AC
Listing ID
15804061
Last Updated
over 1 year ago

Description

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.

Map of 690 King St. Apt 1, Mansfield, OH 44903 (Richland County)

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