23
See all 23 photos
$550,000
Est. payment /mo
8,102 Sqft Lot
New
365 E Midlothian BLVD Youngstown, OH 44507
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Key Details
Property Type Condo
Sub Type Apartment
Listing Status Active
Purchase Type For Sale
Subdivision Hariiet Smith
MLS Listing ID 5114808
HOA Y/N No
Year Built 1954
Annual Tax Amount $8,700
Tax Year 2024
Lot Size 8,102 Sqft
Acres 0.186
Property Sub-Type Apartment
Property Description
Welcome to 365 E Midlothian Blvd, Boardman Ohio.
This property is a three-story apartment building featuring 11 units. Currently operating at 60% occupancy. There is plenty room for growth and INCOME!
Property Highlights:
Year Built: 1954
Stories: 3
Parking: 4 Car Carport plus additional parking "up to 8 more spaces"
Boardman School District
Located on a Bus route in walking distance of McDonald's, BP, and the neighboring Dollar Store.
Total Units: 11
Each unit has the option for separate Electric and Gas. Each unit has its own Heating source.
Unit Sizes: 1–3 Bedrooms
Currently the property manager is renting the property by the bedroom. $600 per shared unit room and $750 per unit for 1 Bedroom apartments.
All tenants have month to month leases.
The property manager has created a rent/roll P&L document that can be emailed to all interested parties.
Laundry room
Secure Entry
Currently the Property manager has included the cost of Electric and Gas into the tenants rent. With this expense and at 60% occupancy based on the per bedroom strategy used, the property still has a cap rate of 5% contingent on insurance and finance cost.
Potential value adds for new owner: Occupancy, Coin Laundry, Transferring the cost of Gas and Electric to tenants, optional reserved parking spaces, optional upgrades of units for additional rental value.
Contact me today for the Property Manager's Rent Roll/ Profit and Loss doc.
This property is a three-story apartment building featuring 11 units. Currently operating at 60% occupancy. There is plenty room for growth and INCOME!
Property Highlights:
Year Built: 1954
Stories: 3
Parking: 4 Car Carport plus additional parking "up to 8 more spaces"
Boardman School District
Located on a Bus route in walking distance of McDonald's, BP, and the neighboring Dollar Store.
Total Units: 11
Each unit has the option for separate Electric and Gas. Each unit has its own Heating source.
Unit Sizes: 1–3 Bedrooms
Currently the property manager is renting the property by the bedroom. $600 per shared unit room and $750 per unit for 1 Bedroom apartments.
All tenants have month to month leases.
The property manager has created a rent/roll P&L document that can be emailed to all interested parties.
Laundry room
Secure Entry
Currently the Property manager has included the cost of Electric and Gas into the tenants rent. With this expense and at 60% occupancy based on the per bedroom strategy used, the property still has a cap rate of 5% contingent on insurance and finance cost.
Potential value adds for new owner: Occupancy, Coin Laundry, Transferring the cost of Gas and Electric to tenants, optional reserved parking spaces, optional upgrades of units for additional rental value.
Contact me today for the Property Manager's Rent Roll/ Profit and Loss doc.
Location
State OH
County Mahoning
Interior
Heating Forced Air
Cooling None
Fireplace No
Exterior
Parking Features Carport
Water Access Desc Public
Present Use Investment
Total Parking Spaces 10
Building
Sewer Public Sewer
Water Public
Schools
School District Boardman Lsd - 5002
Others
Tax ID 29-011-0-024.00-0
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
Special Listing Condition Standard
Listed by Stacey M Grant • Keller Williams Chervenic Realty • staceygrant@kw.com 330-646-8661