1884 6th St
Canton, OH 44704
Hillview Apartments · Multifamily Property For Sale
·
56 Units
Property Facts
| No. Units | 56 | Building Size | 49,308 SF |
| Property Type | Multifamily | Average Occupancy | 71% |
| Property Subtype | Apartment | No. Stories | 3 |
| Apartment Style | Garden | Year Built/Renovated | 1972/2002 |
| Building Class | B | Parking Ratio | 1.34/1,000 SF |
| Lot Size | 3.07 AC | ||
| Zoning | R2 | ||
| No. Units | 56 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | B |
| Lot Size | 3.07 AC |
| Building Size | 49,308 SF |
| Average Occupancy | 71% |
| No. Stories | 3 |
| Year Built/Renovated | 1972/2002 |
| Parking Ratio | 1.34/1,000 SF |
| Zoning | R2 |
Amenities
Unit Amenities
- Heating
- Kitchen
- Refrigerator
- Oven
- Range
- Tub/Shower
- Carpet
Site Amenities
- Laundry Facilities
About 1884 6TH ST , CANTON, OH 44704
Green Bridge Real Estate is proud to offer this 56 Unit complex: The Hillview Apartments. Located at 1866-1906 6th St NE Canton, OH 44704 For Sale $1,925,000 ($34,375 per unit). The property has good bones, high occupancy and could benefit from the right renovations between tenants. The property is an outstanding investment opportunity with upside potential! The Hillview Apartments consists of 8 One-bedroom, One bathroom suites, 36 Two-bedroom, One bathroom and 12 Three-bedroom, One bathroom units. The exterior is brick and vinyl siding, approx. 49,308 Sq.Ft. apartment property built in 1972 and located on 3.07 Acres. Newer windows on the entire building. Current Number of Occupied Units 53 Current Occupancy Percentage 94.60% Approx. Annual Laundry Revenue $4,000 Current Gross Annual Rental Income $377,500.00 Current Net Annual Income: $180,054.00 Current Capitalization Rate on $1,925,000 Sales Price 9.35% Price Per Unit on $1,925,000 Sale Price $34,375.00 Pro-Forma Gross Annual Income @100% Occupancy $522,914.00 Pro-Forma Net Annual Income @100% Occupancy $325,468.00 Pro-Forma Capitalization Rate on $1,925,000 Sales Price 16.91% Current Percentage of Subsidy Voucher Based Tenants vs. Market Rent Tenants 69.82% Current Percentage of Subsidy based Income 45.42% Please note that this is a HUD contract property.
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 8 | - | 598 |
| 2+1 | 36 | - | 690 |
| 3+1 | 12 | - | 874 |
Property Taxes
| Parcel Numbers | Improvements Assessment | $105,840 | |
| Land Assessment | $4,200 | Total Assessment | $110,040 |
Property Taxes
