2128 Tanglewood AVE Save Request In-Person Tour Request Virtual Tour
Alliance,OH 44601
Key Details
Property Type Condo
Sub Type Apartment
Listing Status Active Under Contract
Purchase Type For Sale
Subdivision Alliance
MLS Listing ID 5127417
Year Built 1983
Annual Tax Amount $7,256
Tax Year 2024
Lot Size 0.427 Acres
Property Sub-Type Apartment
Property Description
These are all 2-bedroom, 1 bath units in this brick 1983 recently remodeled building. There are currently 2 vacant units that are now ready to be leased. Current NOI on the 14 occupied units is $105,324.00. Filling the 2 vacant units takes NOI to $131,892.00. Average rents are currently $814/mo. Great opportunity to raise rents. Apartment is 6 minutes from Mount Union College.
Turnkey units, recommendation would be to start by raising rents to $925 per door which is a small increase but would raise your cap rate to 8.5% with long term opportunity to drive much higher cash flows. Proximity to campus provides easy access to rental base.
Location
State OH
County Stark
Interior
Heating Baseboard
Exterior
Roof Type Asphalt
Building
Builder Name Tanglewood
Sewer Public Sewer
Water Public
Schools
School District Marlington Lsd - 7608
Others
Special Listing Condition Standard