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For Sale Apartment

1221-1223 2nd Street, New Philadelphia, OH

1221-1223 2nd Street, New Philadelphia, OH, 44663
$2,500,000

Property Details

Apartment

Description

The New Philadelphia Portfolio is a 38-unit residential investment package in New Philadelphia & Strasburg, Ohio, featuring a diversified mix of multifamily and single-family properties that together produce approximately 336,000 dollars in gross annual income and about 200,000 dollars in net operating income, reflecting an 8.0 percent going-in cap rate based on actual performance. This stabilized, income-producing portfolio is supported by real rent roll and trailing twelve-month financials, offering investors immediate cash flow with upside potential through lease-up of select units, rent normalization where current rents are below market, and continued operational efficiency improvements that are projected to increase NOI to roughly 213,000–217,000 dollars and support an estimated 8.5–8.7 percent stabilized cap rate.

Property Information

Address 1221-1223 2nd Street
City New Philadelphia
State OH
Zip Code 44663
Price $2,500,000
Property Type Commercial Sale
Listing Type Apartment

Location

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