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Concord Square Apartments 500 N Lexington-Springmill Rd 73 Unit Apartment Building For Sale Mansfield, OH 44906
Investment Highlights
- Strong In-Place Cap Rate
- Low-Cost Value-Add Strategy
- Location & Strategic Points of Interest
- Outsized Future Yield
- Enormous Capital Improvements Completed
- Strong Local Demographics & Limited Market Supply
Executive Summary
MMG Real Estate Advisors is pleased to present Concord Square Apartments, a 73-unit, stabilized, high-performing multifamily opportunity in the heart of the top submarket (Ontario) in the broader Mansfield MSA. With a 96% current occupancy rate and a strategic location in a major retail corridor, the asset is perfectly positioned to capitalize on the area’s steady demand and limited new supply.
Financial Summary (Pro Forma - 2026) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
-
|
-
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Pro Forma - 2026) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Sale Type | Investment | Lot Size | 5.00 AC |
| No. Units | 73 | Building Size | 43,200 SF |
| Property Type | Multifamily | Average Occupancy | 100% |
| Property Subtype | Apartment | No. Stories | 1 |
| Apartment Style | Garden | Year Built/Renovated | 1984/2023 |
| Building Class | C | Parking Ratio | 3.47/1,000 SF |
| Zoning | C | ||
| Sale Type | Investment |
| No. Units | 73 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 5.00 AC |
| Building Size | 43,200 SF |
| Average Occupancy | 100% |
| No. Stories | 1 |
| Year Built/Renovated | 1984/2023 |
| Parking Ratio | 3.47/1,000 SF |
| Zoning | C |
Amenities
Unit Amenities
- Air Conditioning
- Cable Ready
- Dishwasher
- Disposal
- Washer/Dryer
- Washer/Dryer Hookup
- Heating
- Ceiling Fans
- Eat-in Kitchen
- Kitchen
- High Speed Internet Access
- Refrigerator
- Oven
- Range
- Tub/Shower
- Walk-In Closets
- Carpet
- Freezer
- Vinyl Flooring
- Window Coverings
Site Amenities
- 24 Hour Access
- Courtyard
- Laundry Facilities
- Package Service
- Storage Space
- Maintenance on site
- Online Services
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 6 | $820.00 | 288 |
| 1+1 | 57 | $935.00 | 576 |
| 2+1 | 6 | $1,092 | 864 |
| 2+2 | 4 | $1,126 | 864 |
1 1
Somewhat walkable
30/100
Exceptionally drivable
100/100
Somewhat bikeable
30/100
Property Taxes
| Parcel Numbers | Improvements Assessment | $464,130 (2025) | |
| Land Assessment | $75,600 (2025) | Total Assessment | $539,730 (2025) |
Property Taxes
Parcel Numbers
Land Assessment
$75,600 (2025)
Improvements Assessment
$464,130 (2025)
Total Assessment
$539,730 (2025)
Contacts
-
Kim Hoff -
Jake Sullivan -
Brian Hall -
Evan Lisle
-
Aidan Schlueter
-
Tyler Kishimoto
-
MMG
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Concord Square Apartments | 500 N Lexington-Springmill Rd
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