3100 Beal St. Nw
Warren, OH 44485
$2,000,000
Shawna Cross
49 Total Photos [Click to View All]
Listing Details
- $2,000,000
- MLS# 5189071
- Type Commercial - Business
- Status Active
Home Value Estimate
Description
Beal St Apartments is a 24-unit garden-style multifamily asset built in 1974 in Warren, Ohio, offered at just $83,333 per door with a 9.49% cap rate on trailing-twelve actuals. The property is currently 96% occupied with only a single vacancy, and delivered $189,881 in T12 NOI on $230,968 in effective gross income. The T3 annualized numbers are even stronger: $200,529 in NOI, pushing the cap rate above 10%. At this basis, you are buying real, in-place income with room to run. Current average rent sits at $809 per unit per month. The tenant mix is anchored by LG, which leases 14 of the 24 units, providing a reliable, institutional-backed...read more
Features
- Central Air, Ceiling Fan(s), Window Unit(s)
- Gas
- $6,769 / year Taxes
- Public
- Built in 1974
Gallery
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Listed By
Agency Name: Russell Real Estate Services
Agency Contact: tal@premierclevelandinvesting.com, 216-870-8687
Shown By
Agent Name: Shawna Cross
Agent Phone: (304) 290-1388
Agency Title: Old Colony, REALTORS®
Agency Contact: Contact
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