2612-2618 Pioneer Tr , Sandusky, OH 44870
Sandusky, OH 44870
Description
Outstanding Investment Opportunity: 36-Unit Building with High ROI Potential! Achieve a remarkable 16% cash-on-cash return and a projected 33% IRR with this fully occupied property. Currently offering a 7% cap rate, this investment has the potential to exceed 10% through strategic value-add improvements. The property features an equal mix of 1- and 2-bedroom units, all equipped with mounted A/C units and open-concept layouts. Upper units include private exterior balconies, adding tenant appeal. With an estimated $3-5K in CapEx per unit for kitchen upgrades, fresh paint, and flooring, market rents are projected at $715 (1-bed) and $850 (2-bed), driving a proforma income of $338,000/year. The property is comprised of two structures divided into three identical sections, each with owner-owned laundry facilities, newer shingled roofs, and well-maintained boilers. Additional amenities include large grassy areas and ample parking. The nearby Redwood development promises tenant quality growth and forced appreciation, making this a prime opportunity. Seller financing on a second lien is available for qualified buyers. Don't miss out on this exceptional investment!
Details
| Mls | 5085925 |
|---|---|
| Listing Type | For Sale |
| Style | Attachd |
| Subtype | Resale |
| Status | Active |
| Year | 1975 |
| Days On Site | 24 |
| Listing Provided By | Keller Williams Citywide | Gregory Erlanger |
Features
| Sq Feet | 30,213 |
|---|---|
| Units | 36 |
| Buildings | 2 |
| Acreage | 1.05 |
Market Activity 44870
Request A Showing
Request A Showing
Contact
Learn More About This Property
| State | OH |
|---|---|
| County | Erie |
| City | Sandusky |
| Zip Code | 44870 |
| Listing VS Median (in 44870) | |
Price: $1,800,000 low | high Med: $177,450 SqFt: 30,213 low | high Med: 1,540 $ / SqFt: $60 low | high Med: $124 On Site: 24 low | high Med: 25.500000 | |