1863 Cherry Valley Road, Newark, OH 43055
New Listing
$596,900
Property Type:
Multi-Family
Lot Size (sq. ft.):
22,216
Status:
Active
Current Price:
$596,900
List Date:
11/20/2025
Last Modified:
11/20/2025
Description
Six apartments and a storefront located on Cherry Valley Rd. The 6 apartments are currently renting for a total of GMR $5700. Each renter pays for water, gas, and electric. All units are metered separately. Four of the units are two bedroom and two are one bedroom. The store-front is currently vacant, but owner is currently discussing a 5 yr lease with a potential client. Total rent potential is estimated to be approximately $6500 per month when fully rented. New roof in 2020. Curb Offers required for showings of apartments as not to disturb renters. Store front available for showings until lease begins.
Supplements: ********
More Information MLS# 225043582
Location & Property Info
List Price/SqFt: 146.3
City (Mailing Addr): Newark
Corp LimitPerAuditor: Newark
Office/Contract Info
For Sale: Yes
Mortgage Balance: 120000
Exchange: No
General Property Info
# of Buildings: 1
Occupancy Rate: 100
Built Prior to 1978: Yes
Total Parking: 20
Carport Spaces: 0
Off Street Parking Spaces: 20
Building Sqft: 4080
Lot Size (Side): 224
Use Code: 401 - APARTMENT:4-19 UNITS
Number of Units: 7
Year Built: 1969
Acreage: 0.51
Tax Info
Zoning: Commerical
Tax Abatement: No
Taxes (Yrly): 5742
Parcel #: 054-219936-00.000
Tax Year: 2024
Remarks & Misc
Property Description: Six apartments and a storefront located on Cherry Valley Rd. The 6 apartments are currently renting for a total of GMR $5700. Each renter pays for water, gas, and electric. All units are metered separately. Four of the units are two bedroom and two are one bedroom. The store-front is currently vacant, but owner is currently discussing a 5 yr lease with a potential client. Total rent potential is estimated to be approximately $6500 per month when fully rented. New roof in 2020. Curb Offers required for showings of apartments as not to disturb renters. Store front available for showings until lease begins.
Income/Expenses
Gross Income: 68400
Net Operating Income: 52560
Total Expenses: 15840
Addl Acceptance Cond
None Known: 1
Expenses
R.E. Taxes: 5700
Property Insurance: 900
Repairs&Maintenance: 2400
Property Management: 6840
1 Bedroom
1 Bedroom # of Units: 2
2 Bedroom
2 Bedroom # of Units: 4
Construction
Block: 1
Brick: 1
Stucco: 1
Vinyl Siding: 1
Parking Features
Shared Driveway: 1
Common: 1
No Garage: 1
Sewer
Public Sewer: 1
Other
Other Month Rent Per Unit: 700
Miscellaneous
W/D Hookups: 1
Tenant Pays
Gas: 1
Sewer: 1
Trash Collection: 1
Water: 1
Electricity: 1
Alternate Uses
Commercial: 1
Office: 1
Residential: 1
Auction Info
Auction/Online Bidding Y/N: No
Heating
Forced Air: 1
New Financing
Conventional: 1
Air Conditioning
Central Air: 1
MLS Primary PhotoSrc
Realtor Provided: 1
Location Property Info
Original List Price: 596900
List Price: $596,900
Property Sub Type: Mixed Use
Street #: 1863
Street Name: Cherry Valley
Street Suffix: Road
County: Licking
State: OH
Zip Code: 43055
School District: NEWARK CSD 4507 LIC CO.
Township: None
OfficeContract Info
Status: Active
MLS Entry Date: 2025-11-19
Property Features
Addl Acceptance Cond: None Known
Parking Features: Shared Driveway; Common; No Garage
Tenant Pays: Electricity; Gas; Sewer; Trash Collection; Water
Heating: Forced Air
Air Conditioning: Central Air
Construction: Block; Brick; Stucco; Vinyl Siding
Sewer: Public Sewer
Miscellaneous: W/D Hookups
Alternate Uses: Commercial; Office; Residential
New Financing: Conventional
MLS Primary PhotoSrc: Realtor Provided
Listing Office:
e-Merge Real Estate
Listing Agent:
Robert M Panian
Last Updated: November - 20 - 2025
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