7327 N Ridge Rd
Madison, OH 44057
Holly Ridge Apartments · Multifamily Property For Sale
·
48 Units
Property Facts
| No. Units | 48 | Building Size | 40,131 SF |
| Property Type | Multifamily | Average Occupancy | 100% |
| Property Subtype | Apartment | No. Stories | 1 |
| Apartment Style | Garden | Year Built | 1963 |
| Building Class | C | Parking Ratio | 2.54/1,000 SF |
| Lot Size | 12.00 AC | ||
| Zoning | B2 | ||
| No. Units | 48 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 12.00 AC |
| Building Size | 40,131 SF |
| Average Occupancy | 100% |
| No. Stories | 1 |
| Year Built | 1963 |
| Parking Ratio | 2.54/1,000 SF |
| Zoning | B2 |
Amenities
Unit Amenities
- Air Conditioning
- Heating
- Kitchen
- Refrigerator
- Oven
- Range
- Tub/Shower
- Carpet
Site Amenities
- 24 Hour Access
- Laundry Facilities
- Playground
- Tenant Controlled HVAC
- Walk-Up
About 7327 N RIDGE RD , MADISON, OH 44057
This is a great investment, income producing property. Owner acquired the property approximately 9 years ago and has implemented a strong property management approach and focusing on necessary capital improvements exceeding $120.000 all of which resulted in a NOI improvement of 54.4 % (2007 to 2017 reporting periods). Presently, there are no vacant units with an ongoing waiting list for several prospective tenants. The property includes five buildings including a work shop sitting on 12 acres. There are 27 one-bedroom, 650 square foot, one bath units; 20 two-bedroom, 850 square foot, one bath units; and 1 single family, two-bedroom, one bath home. Apartment buildings are brick facade and vinyl sided on two of the five. Complete roof replacement with today’s current metal roofing systems was completed on all three buildings containing the 1-bedroom apartments. The one-bedroom apartments are heated by a newer boiler. Tenant rate includes heating, electrical, water and sewer. Two-bedroom tenants pay for gas, electric and water in apartments which are heated by individual gas furnaces and with individual hot water tanks.
