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Bayridge Condominium 31501 N Marginal Dr 6 Unit Apartment Building $650,000 ($108,333/Unit) 7% Cap Rate Willowick, OH 44095
Investment Highlights
- Tenants pay all utilities
- Stabilized portfolio with rent upside-market rents $1400-$1600 for three bedroom units
- HOA present, so minimal/low owner management duties
Executive Summary
Prime Six-Unit Multifamily Investment Opportunity – Stabilized Portfolio with Upside. This well-maintained six-unit multifamily property presents an excellent investment opportunity with stable occupancy and strong rental upside. Each spacious 3- bedroom, 1.5-bath unit offers approximately 1,200 square feet of living space, totaling 7,200 square feet across the property.
Property Facts Under Contract
| Price | $650,000 | Property Subtype | Apartment |
| Price Per Unit | $108,333 | Building Class | C |
| Sale Type | Investment | Building Size | 7,200 SF |
| Cap Rate | 7% | Average Occupancy | 100% |
| No. Units | 6 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1978 |
| Price | $650,000 |
| Price Per Unit | $108,333 |
| Sale Type | Investment |
| Cap Rate | 7% |
| No. Units | 6 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Building Class | C |
| Building Size | 7,200 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1978 |
Amenities
Unit Amenities
- Air Conditioning
- Cable Ready
- Dishwasher
- Washer/Dryer Hookup
- Kitchen
Site Amenities
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 3+1.5 | 6 | - | 1,200 |
1 1
Fairly walkable
40/100
Exceptionally drivable
100/100
Minimal public transit
10/100
Somewhat bikeable
30/100
Property Taxes
| Parcel Number | 28-A-040-H-01-009-0 | Improvements Assessment | $26,580 |
| Land Assessment | $1,510 | Total Assessment | $28,090 |
Property Taxes
Parcel Number
28-A-040-H-01-009-0
Land Assessment
$1,510
Improvements Assessment
$26,580
Total Assessment
$28,090
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Bayridge Condominium | 31501 N Marginal Dr
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