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Listed By
Agency Name: Howard Hanna
Agency Contact: tinali@howardhanna.com, 440-318-5844
Shown By
Agent Name: Meyer & Dial
Agent Phone: (614) 340-9660
Agency Title: Cutler Real Estate
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Property Description
Attention Investors! 100% Occupied. Earning high CAP day one! This Portfolio comprises three adjacent brick 6 unit buildings for a total of 18 units that sit in a private, quiet cul-de-sac street in the city of Warren, Ohio. Each building is 3 stories and has one 750 sf 1B unit and five 1100 sq 2B units with spacious porches/balconies and covered carport spaces and storage lockers for each unit. All units have central air and all but one tenant pay their own water, gas & electric. The complex currently has over 9% cap rate with current below market rent with 5% vacancy rate included, Market proforma is over 11% based on the highest collected rent in the building, potential increase in rents. Each building has a common area with coin-op laundry. Many improvements including 3 new roofs on the main buildings and 1 carport roof replacement, newer windows, furnaces, AC condensers, energy efficient lighting, cosmetic upgrades in common areas (new paint, new flooring). Convenient to restaurants, shops, grocery stores, and local amenities. A great value-add opportunity in a supply-constrained rental market. Inspection after an accepted offer. Call with questions.
Property Features
Property Type: Commercial - Business
Basement: Apartment
Basement: Yes
Cooling: Central Air
Days on Market: 10
Heating: Forced Air, Gas
Lot Size: 3.71 Acres
Roof Type: Asphalt, Fiberglass, Shingle, Tar/Gravel
Stories: 3.0
Taxes: $10,081 / year
Year Built: 1964
Feature Descriptions
Association Amenities: Bike Storage
Building Features: Bike Storage, Sign(s)
Community Features: Park
Fencing: Back Yard, Fenced, Full, Wood
Laundry: Coin-operated
Parcel#: 39-566590
Parking: Attached Carport, Additional Parking, Covered, Carport, Lighted, On Site, Paved, Parking Lot, On Street
Sewer: Public Sewer
Units: 18
Water: Public
Local Schools
School District: Warren City
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1500-1525 Stewart Circle NW | MLS# 5179703
This commercial property located at 1500-1525 Stewart Circle NW, Warren, OH 44485 is currently listed for sale with an asking price of $1,155,000. 1500-1525 Stewart Circle NW is located within the Warren City school district. Search Warren real estate on www.meyeranddial.com today.