132 E George Street, Marion, OH 43302
$2,850,000
Property Type:
Multi-Family
Lot Size (sq. ft.):
10,890
Status:
Closed
Current Price:
$2,850,000
List Date:
4/01/2025
Last Modified:
4/02/2025
Overview
Description
Incredible opportunity to own a 35 unit cash flowing portfolio in Marion, Ohio. Consists of a 15 unit complex complete with a laundry facility and a 3000sf garage/office, as well as 10 doubles in close proximity allowing for efficient property management. All units have been updated over time by owners and rents are at market rates making this a true turnkey opportunity with a current 9.5% cap rate! The owners self manage and would assist new owners with transfer of their online management system through Tenant Cloud.
Listing Details MLS# 225002392
Location Property Info
- Original List Price
- 2850000
- Property Sub Type
- Mixed Use
- Street #
- 132
- Street PreDirection
- E
- Street Name
- George
- Street Suffix
- Street
- County
- Marion
- State
- OH
- Zip Code
- 43302
- School District
- MARION CSD 5102 MAR CO.
- Township
- Marion
OfficeContract Info
- MLS Entry Date
- 2025-01-27
General Property Info
- Number of Units
- 35
- # of Buildings
- 17
- Year Built
- 1920
- Built Prior to 1978
- Yes
- Acreage
- 0.25
Tax Info
- Parcel #
- 12103000-2800
- Mult Parcels/Sch Dis
- Yes
- Addl Parcel Numbers
- 12103000-2900,12419000-3200, 12205010-1500, 12206000-1100, 12313000-2100, 12314000-4700, 12206000-1300, 12204000-0600, 12212000-1000, 12205010-0500, 12206010-2700
- Tax Abatement
- No
- Tax Incentive
- No
Status Change Info
- Under Contract Date
- 2025-01-27
- Sold Date
- 2025-03-31
1 Bedroom
- 1 Bedroom # of Units
- 6
- 1 Bedroom Month Rent Per Unit
- 650
More Information
2 Bedroom
- 2 Bedroom # of Units
- 25
- 2 Bedroom Month Rent Per Unit
- 850
3 Bedroom
- 3 Bedroom # of Units
- 4
- 3 Bedroom Month Rent Per Unit
- 1100
Other
- Other # of Units
- 2
- Other Month Rent Per Unit
- 1000
Expenses
- R.E. Taxes
- 13108
- Property Insurance
- 18928
- Repairs&Maintenance
- 13240
- Misc Expense
- 15000
- Water Expense
- 10610.8
Auction Info
- Auction/Online Bidding Y/N
- No
Location & Property Info
- City (Mailing Addr)
- Marion
- Corp LimitPerAuditor
- Marion
Office/Contract Info
- For Sale
- Yes
- Exchange
- No
Remarks & Misc
- Property Description
- Incredible opportunity to own a 35 unit cash flowing portfolio in Marion, Ohio. Consists of a 15 unit complex complete with a laundry facility and a 3000sf garage/office, as well as 10 doubles in close proximity allowing for efficient property management. All units have been updated over time by owners and rents are at market rates making this a true turnkey opportunity with a current 9.5% cap rate! The owners self manage and would assist new owners with transfer of their online management system through Tenant Cloud.
Income/Expenses
- Gross Income
- 343000
- Net Operating Income
- 270000
- Total Expenses
- 73000
Addl Acceptance Cond
- None Known
- Yes
Construction
- Brick
- Yes
- Vinyl Siding
- Yes
Heat Fuel
- Gas
- Yes
Parking Features
- 3 Car Garage
- Yes
- On Street
- Yes
- Common
- Yes
Sewer
- Public Sewer
- Yes
Services Available
- Electricity Available
- Yes
- Natural Gas Available
- Yes
- Sewer Available
- Yes
- Storm Sewer
- Yes
- Water Available
- Yes
Miscellaneous
- Basement
- Yes
- Security System
- Yes
Tenant Pays
- Gas
- Yes
- Trash Collection
- Yes
- Water
- Yes
- Electricity
- Yes
Heating
- Forced Air
- Yes
Air Conditioning
- Central Air
- Yes
- Other
- Yes
Owner Pays
- Sewer
- Yes
MLS Primary PhotoSrc
- Realtor Provided
- Yes
Property Features
Addl Acceptance Cond:
None Known
Parking Features:
3 Car Garage; On Street; Common
Owner Pays:
Sewer
Tenant Pays:
Electricity; Gas; Trash Collection; Water
Heat Fuel:
Gas
Heating:
Forced Air
Air Conditioning:
Central Air; Other
Construction:
Brick; Vinyl Siding
Sewer:
Public Sewer
Services Available:
Electricity Available; Natural Gas Available; Sewer Available; Storm Sewer; Water Available
Miscellaneous:
Basement; Security System
MLS Primary PhotoSrc:
Realtor Provided
Listing Office:
Keller Williams Consultants
Listing Agent:
Christopher M Shea
Last Updated: April - 02 - 2025
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