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2320 Milan Rd - Downtown Sandusky Scattered-Site Real Estate 87 Unit Apartment Building Offered at $7,550,000 Sandusky, OH 44870
Investment Highlights
- 14/47 Properties in the Transient Rental District
- $140,000+ Immediate Annual Upside
- $76,435 Current Monthly Rent
Executive Summary
This offering represents a rare opportunity to acquire a large, assembled scattered-real estate portfolio spanning over 50 parcels throughout downtown Sandusky, Ohio. Over time, the current ownership strategically acquired these properties to create a meaningful footprint across the city’s core residential neighborhoods, all within close proximity to the waterfront, downtown business district, and major travel corridors.
Being offered as a single package, this portfolio provides an investor immediate scale, geographic density, and operational efficiency that would be nearly impossible to replicate through individual acquisitions.
The portfolio currently produces $76,435 in monthly rental income with documented market rents supporting $88,100 per month, revealing approximately $140,000 in annual upside through rent normalization alone. Many leases are at-will or below market, allowing a new owner to increase income without renovations or redevelopment.
This presents a true value-add opportunity driven by operations rather than construction.
In addition to strong in-place cash flow, the density and location of these properties create long-term optionality for infill development, redevelopment, or strategic hold as Sandusky continues to experience waterfront and downtown revitalization. The next owner benefits not only from immediate yield, but from control of a significant residential footprint in one of Ohio’s most desirable lakefront communities.
Being offered as a single package, this portfolio provides an investor immediate scale, geographic density, and operational efficiency that would be nearly impossible to replicate through individual acquisitions.
The portfolio currently produces $76,435 in monthly rental income with documented market rents supporting $88,100 per month, revealing approximately $140,000 in annual upside through rent normalization alone. Many leases are at-will or below market, allowing a new owner to increase income without renovations or redevelopment.
This presents a true value-add opportunity driven by operations rather than construction.
In addition to strong in-place cash flow, the density and location of these properties create long-term optionality for infill development, redevelopment, or strategic hold as Sandusky continues to experience waterfront and downtown revitalization. The next owner benefits not only from immediate yield, but from control of a significant residential footprint in one of Ohio’s most desirable lakefront communities.
Property Facts
| Price | $7,550,000 | Property Type | Multifamily |
| Price Per Unit | $86,782 | No. Stories | 1 |
| Sale Type | Investment | Year Built | 1900 |
| No. Units | 87 |
| Price | $7,550,000 |
| Price Per Unit | $86,782 |
| Sale Type | Investment |
| No. Units | 87 |
| Property Type | Multifamily |
| No. Stories | 1 |
| Year Built | 1900 |
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Property Taxes
| Parcel Number | 57-05923-000 | Improvements Assessment | $38,178 |
| Land Assessment | $2,583 | Total Assessment | $40,761 |
Property Taxes
Parcel Number
57-05923-000
Land Assessment
$2,583
Improvements Assessment
$38,178
Total Assessment
$40,761
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2320 Milan Rd - Downtown Sandusky Scattered-Site Real Estate
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