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504 Olden Ave 4 Unit Apartment Building Offered at $290,000 at a 10.71% Cap Rate Arlington Heights, OH 45215
EXECUTIVE SUMMARY
Fantastic investment opportunity in Arlington Heights! The quad features 2-two bedroom units and 2-one bedroom units. Currently fully occupied, with solid cash flow and room to improve rents!! Hardwood flooring, off street parking, on site laundry, and close to all the shops, dining and entertainment in Wyoming, Reading and Blue Ash!! Don't miss the chance add this to your portfolio or live in one unit and have the tenants carry your mortgage!!
FINANCIAL SUMMARY (ACTUAL - 2024) |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$50,400
|
$15.22
|
| Other Income |
-
|
-
|
| Vacancy Loss |
$2,520
|
$0.76
|
| Effective Gross Income |
$47,880
|
$14.46
|
| Taxes |
$4,639
|
$1.40
|
| Operating Expenses |
$12,180
|
$3.68
|
| Total Expenses |
$16,819
|
$5.08
|
| Net Operating Income |
$31,061
|
$9.38
|
FINANCIAL SUMMARY (ACTUAL - 2024)
| Gross Rental Income | |
|---|---|
| Annual | $50,400 |
| Annual Per SF | $15.22 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | $2,520 |
| Annual Per SF | $0.76 |
| Effective Gross Income | |
|---|---|
| Annual | $47,880 |
| Annual Per SF | $14.46 |
| Taxes | |
|---|---|
| Annual | $4,639 |
| Annual Per SF | $1.40 |
| Operating Expenses | |
|---|---|
| Annual | $12,180 |
| Annual Per SF | $3.68 |
| Total Expenses | |
|---|---|
| Annual | $16,819 |
| Annual Per SF | $5.08 |
| Net Operating Income | |
|---|---|
| Annual | $31,061 |
| Annual Per SF | $9.38 |
PROPERTY FACTS
| Price | $290,000 | Lot Size | 0.18 AC |
| Price Per Unit | $72,500 | Building Size | 3,312 SF |
| Sale Type | Investment | No. Stories | 2 |
| Cap Rate | 10.71% | Year Built | 1959 |
| No. Units | 4 | Opportunity Zone |
Yes
|
| Property Type | Multifamily |
| Price | $290,000 |
| Price Per Unit | $72,500 |
| Sale Type | Investment |
| Cap Rate | 10.71% |
| No. Units | 4 |
| Property Type | Multifamily |
| Lot Size | 0.18 AC |
| Building Size | 3,312 SF |
| No. Stories | 2 |
| Year Built | 1959 |
| Opportunity Zone |
Yes |
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 2 | $900.00 | - |
| 2+1 | 2 | $1,200 | - |
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PROPERTY TAXES
| Parcel Number | 601-0001-0189 | Total Assessment | $55,965 |
| Land Assessment | $9,660 | Annual Taxes | $4,639 ($1.40/SF) |
| Improvements Assessment | $46,305 | Tax Year | 2024 |
PROPERTY TAXES
Parcel Number
601-0001-0189
Land Assessment
$9,660
Improvements Assessment
$46,305
Total Assessment
$55,965
Annual Taxes
$4,639 ($1.40/SF)
Tax Year
2024
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504 Olden Ave
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