Description
This is a multi-property portfolio sale including 17 total rental units. Package is made up of 1 duplex, 16 single family homes and a bonus of 3 additional vacant lots adding potential to build more. All are located within a close proximity to each other for easier management in Ashtabula, OH. Gross rents of $12,380. Owner pays sewer & trash for each unit, rough estimate of $5,100 per year. Annual tax $13,774. Annual Insurance Expense $5,739. To arrive at an 11% cap, a vacancy allowance and estimated maintenance allowance were also added into the expenses at 2% of gross rent each, or $2,971 each. NOI including those estimates comes to $118,004. Average year built of these homes is 1911, all are older than 1925. Out of the 17 units, 12 have been occupied by the same people for 2 or more years, so stable tenants who mainly pay cash rents. Full rent roll including improvements list available upon request.
-
0BEDS
-
2.38ACRES
-
0BATHS
-
01/2 BATHS
-
20,138SQFT
-
$52$/SQFT
School Ratings & Info
Listing information © 2022 YES-MLS.
Description
This is a multi-property portfolio sale including 17 total rental units. Package is made up of 1 duplex, 16 single family homes and a bonus of 3 additional vacant lots adding potential to build more. All are located within a close proximity to each other for easier management in Ashtabula, OH. Gross rents of $12,380. Owner pays sewer & trash for each unit, rough estimate of $5,100 per year. Annual tax $13,774. Annual Insurance Expense $5,739. To arrive at an 11% cap, a vacancy allowance and estimated maintenance allowance were also added into the expenses at 2% of gross rent each, or $2,971 each. NOI including those estimates comes to $118,004. Average year built of these homes is 1911, all are older than 1925. Out of the 17 units, 12 have been occupied by the same people for 2 or more years, so stable tenants who mainly pay cash rents. Full rent roll including improvements list available upon request.
Listing information © 2022 YES-MLS. All rights reserved.
The data relating to real estate for sale on this website comes in part from the Internet Data Exchange program of YES-MLS. Real estate listings held by brokerage firms other than Jose Medina and Associates | Keller Williams Legacy Group Realty are marked with the Internet Data Exchange logo and detailed information about them includes the name of the listing broker(s). Information Deemed Reliable But Not Guaranteed. The photos may be altered, edited, enhanced or virtually staged. Data last updated 2022-08-10T15:09:27.057.