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    205 Park Avenue

    Youngstown, OH 44504
    • $2,150,000
    • STATUS: Active
    • ON SITE: 363 days
    • MLS #: 4208346
    UPDATED: 46 min ago
    $2,150,000
    • 0
      BEDS
    • 0.74
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    Neighborhood:
    Type:
    Commercial
    Built:
    1902
    County:

    School Ratings & Info

    Listing courtesy of Keller Williams Chervenic Rlty.
    Listing information © 2021 YES-MLS.

    Description

    WELL MAINTAINED, UPDATED, TURNKEY APARTMENT BUILDINGS. LOCATED ON ENTIRE SECTION OF BLOCK BETWEEN ELM ST. AND OHIO AVE by YOUNGSTOWN STATE UNIVERSITY. Eight multi-tenant properties on 5 land parcels in Mahoning County. Significant capital improvements completed. Property is across from Wick Park, down the street from Stambaugh Auditorium, and .6 miles from YSU Stadium. There are 30 apartments total with 51 units leased, and 3 vacancies as of August 2020 Rent Roll. NOT INCLUDING CURRENT CAPITAL IMPROVEMENTS: 2019 Gross Operating Expenses: Approximately $68,000/year. Thirty apartments varying from studio apartments to 1-9 bedroom apartments. Current capital improvements scheduled for completion by the end of September 2020. SEE ADDENDUMS FOR MORE INFO. 918 Elm St. building is commercially zoned, but is gutted and used as a warehouse for now for current projects - the owner has removed the 918 Elm St. building from the sale. The apartments are broken up into units based upon individual leases obtained for each tenant renting space. The majority of the tenancy rents space based upon this unit system. An apartment is described as a kitchen, living room, full bath and toilet. A unit is described as a private bedroom with common area privileges to other spaces within the apartment, i.e., the living room, the kitchen, and bathrooms, basement. Depending on buyers' management costs, debt servicing, and adjusted real estate taxes, buyer may have between 7+% to 9%cap rate.

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    Listing information © 2021 YES-MLS. All rights reserved. The data relating to real estate for sale on this website comes in part from the Internet Data Exchange program of YES-MLS. Real estate listings held by brokerage firms other than The Tracy Jones Team | Keller Williams Legacy Group Realty are marked with the Internet Data Exchange logo and detailed information about them includes the name of the listing broker(s). Information Deemed Reliable But Not Guaranteed. The photos may be altered, edited, enhanced or virtually staged. Data last updated 2021-07-23T20:08:41.543.
    www.thetracyjonesteam.com/homes/108220957
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    205 Park Avenue Youngstown, OH 44504

    • Price: $2,150,000
    • Status: Active
    • Updated: 46 min ago
    • MLS #: 4208346
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.74
    Acres
    1902
    Built
    Neighborhood:
    Park Ave
    County:
    Mahoning
    Area:
    Youngstown North
    Property Description
    WELL MAINTAINED, UPDATED, TURNKEY APARTMENT BUILDINGS. LOCATED ON ENTIRE SECTION OF BLOCK BETWEEN ELM ST. AND OHIO AVE by YOUNGSTOWN STATE UNIVERSITY. Eight multi-tenant properties on 5 land parcels in Mahoning County. Significant capital improvements completed. Property is across from Wick Park, down the street from Stambaugh Auditorium, and .6 miles from YSU Stadium. There are 30 apartments total with 51 units leased, and 3 vacancies as of August 2020 Rent Roll. NOT INCLUDING CURRENT CAPITAL IMPROVEMENTS: 2019 Gross Operating Expenses: Approximately $68,000/year. Thirty apartments varying from studio apartments to 1-9 bedroom apartments. Current capital improvements scheduled for completion by the end of September 2020. SEE ADDENDUMS FOR MORE INFO. 918 Elm St. building is commercially zoned, but is gutted and used as a warehouse for now for current projects - the owner has removed the 918 Elm St. building from the sale. The apartments are broken up into units based upon individual leases obtained for each tenant renting space. The majority of the tenancy rents space based upon this unit system. An apartment is described as a kitchen, living room, full bath and toilet. A unit is described as a private bedroom with common area privileges to other spaces within the apartment, i.e., the living room, the kitchen, and bathrooms, basement. Depending on buyers' management costs, debt servicing, and adjusted real estate taxes, buyer may have between 7+% to 9%cap rate.
    Exterior Features

    Parking Features DrivewayOutsidePublicOn Street Roof AsphaltFiberglass

    Interior Features

    Basement Common Basement Basement YN Yes Building Area Total 0 Cooling Central Air Cooling YN Yes Heating BaseboardForced Air Heating YN Yes

    Property Features

    Insurance Expense 8345 Lease Considered YN No Owner Pays Cable TvElectricityGasHeatSewerTrash CollectionWater Ownership Principal/Nr Property Sub Type Apartment Sewer Public Sewer Tax Annual Amount 9368 Tenant Pays Other Township Youngstown City Water Source Public Year Built Details Not Verifiable

    Listing information © 2021 YES-MLS.
    Listing provided courtesy of Keller Williams Chervenic Rlty.
    Listing information © 2021 YES-MLS. All rights reserved. The data relating to real estate for sale on this website comes in part from the Internet Data Exchange program of YES-MLS. Real estate listings held by brokerage firms other than The Tracy Jones Team | Keller Williams Legacy Group Realty are marked with the Internet Data Exchange logo and detailed information about them includes the name of the listing broker(s). Information Deemed Reliable But Not Guaranteed. The photos may be altered, edited, enhanced or virtually staged. Data last updated 2021-07-23T20:08:41.543.
     
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    The Tracy Jones Team | Keller Williams Legacy Group Realty
    137 West Main St
    Ashland OH, 44805
    Listing courtesy of Keller Williams Chervenic Rlty.
    Listing information © 2021 YES-MLS.