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$ 295,000
Est. payment /mo
New
71 W Washington Street Athens, OH 45701
6,969 Sqft Lot
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Mixed Use
Listing Status Active
Purchase Type For Sale
MLS Listing ID 225026206
Year Built 1900
Annual Tax Amount $5,114
Lot Size 6,969 Sqft
Lot Dimensions 0.16
Property Sub-Type Mixed Use
Source Columbus and Central Ohio Regional MLS
Property Description
Attention Investors! No matter how you approach the valuation of this property, you arrive to the same conclusion: You can purchase this below-market property right now, invest a little capital, market immediately (and there are tons of anxious, prospective renters in the market right now) and profit! This five unit multi-family dwelling has four single units and one three occupant unit. Let me walk you through the valuation... estimate a conservative gross potential income of $42,000, subtract operating expenses, property tax and insurance premium and you end up with a net operating income of over $25,000. After applying locally appropriate cap rate, the valuation you end up with is 25% higher than this list price! This is an opportunity for a seasoned investor to add to their portfolio or for a newer investor to start. This property is currently vacant, but has an active rental permit with Athens Code Enforcement for a total occupancy of seven.
Location
State OH
County Athens
Area 0.16
Zoning Residential R-3
Rooms
Other Rooms None
Dining Room No
Interior
Heating Oil
Cooling Central Air
Equipment No
Laundry No Laundry Rooms
Schools
High Schools Athens Csd 502 Ath Co.
School District Athens Csd 502 Ath Co.
Others
Tax ID A02-73100055-00
Listed by Melissa Louise Prebe Uptown Realty Group
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