This Multifamily Property is Off-Market.

690 King St. Apt 1
Mansfield, OH 44903 ·

170 Units · Multifamily For Sale

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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 Type Multifamily Occupancy 94%
Property Sub-type Government Subsidized Lot Size 14 AC
Listing ID: 15804061 Date Created: 07/15/2008 Last Updated: 11/18/2009

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.

Research

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

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