365 E Midlothian Boulevard | Youngstown
Welcome to 365 E Midlothian Blvd, Boardman Ohio.\r\nThis property is a three-story apartment building featuring 11 units. Currently operating at 60% occupancy. There is plenty room for growth and INCOME!\r\n\r\nProperty Highlights:\r\nYear Built: 1954\r\nStories: 3 \r\nParking: 4 Car Carport plus additional parking \u0022up to 8 more spaces\u0022\r\nBoardman School District\r\nLocated on a Bus route in walking distance of McDonald\u0027s, BP, and the neighboring Dollar Store. \r\nTotal Units: 11\r\nEach unit has the option for separate Electric and Gas. Each unit has its own Heating source. \r\nUnit Sizes: 1\u20133 Bedrooms\r\nCurrently the property manager is renting the property by the bedroom. $600 per shared unit room and $750 per unit for 1 Bedroom apartments.\r\nAll tenants have month to month leases.\r\nThe property manager has created a rent/roll P\u0026L document that can be emailed to all interested parties. \r\nLaundry room\r\nSecure Entry\r\nCurrently the Property manager has included the cost of Electric and Gas into the tenants rent. With this expense and at 60% occupancy based on the per bedroom strategy used, the property still has a cap rate of 5% contingent on insurance and finance cost. \r\n\r\nPotential value adds for new owner: Occupancy, Coin Laundry, Transferring the cost of Gas and Electric to tenants, optional reserved parking spaces, optional upgrades of units for additional rental value. \r\n\r\nContact me today for the Property Manager\u0027s Rent Roll/ Profit and Loss doc. MLSNow 5114808
Directions to property: South ave to Midlothian\r\nSouthern Blvd to Midlothian\r\nMarket street to Midlothian\r\nGlenwood to Midlothian
All information is believed to be reliable, but is not guaranteed and should be independently verified with a real estate professional. CENTURY 21 Lakeside Realty Is a member of the National Association of REALTORS® Equal Housing Opportunity.