601-643 James Marie Ct
Fostoria, OH 44830
James- Marie Court · Multifamily Property For Sale · 44 Units

James Marie is a ranch-style apartment complex, which consists of seven buildings, built in 1975, and is situated on approximately 2.83 acres of land. The buildings are comprised of 43, one-bedroom units (650 ft.2) and 1, two-bedroom unit (700 ft.2). One of the most attractive facets of the investment opportunity is the condition of the units and buildings. Notable for investors is the 98% occupancy, which is consistent with the historical operation of the property. Strong performance such as this can be attributed to location of the property, as well as the proximity to Fostoria High School, Portage, City and Gray Parks, Mottram and Lamberjack Lakes, ProMedica Hospital as well as other amenities- providing tenants ample retail, educational, healthcare and entertainment opportunities that are close to home. Current ownership has spent considerable amount of money, over $115,000, on big ticket items, including the replacement of all the windows with new vinyl windows, re-paving of the parking lot, replacement of all roofs, replaced all entry doors, and much more. The property is outfitted with Tenant-paid, electric forced-air heating system. Fostoria, a population of more than 13,000 residents, is located at the convergence of Hancock, Seneca and Wood Counties in northwest Ohio. Fostoria is located near the junction of US-23 and US-224, approximately 40 miles southeast of Toledo, 20 miles northeast of Findlay and 90 miles northwest away from Columbus, the state capitol of Ohio. Several interstates and highways converge on this region, including I-75, US-23, US-224, SR-12, SR-18, SR-613 and SR-12. Also known for its railroads, more than 100 trains pass through Fostoria daily. This excellent location facilitates commutes and enables convenient access to all of north and central Ohio for residents and businesses alike.