61
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$809,900
Est. payment /mo
1.19 Acres Lot
Active Under Contract
620-672 Hagenbuch Street Urbana, OH 43078
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Key Details
Property Type Multi-Family
Sub Type Apartment
Listing Status Active Under Contract
Purchase Type For Sale
MLS Listing ID 226027456
Year Built 1955
Annual Tax Amount $5,693
Lot Size 1.190 Acres
Lot Dimensions 1.19
Property Sub-Type Apartment
Source Columbus and Central Ohio Regional MLS
Property Description
This income-producing multi-family investment property offers 12 rental units across five separate buildings on a combined 1.19 acres and is being sold with three parcels. Whether you're purchasing your first multi-unit property or expanding an existing investment portfolio, this property allows an additional upside through future rental increases. The property includes four duplex buildings located at 652-656 Hagenbuch Street, 660-664 Hagenbuch Street, 668-672 Hagenbuch Street, and 807-809 Concord Street. Each duplex contains two 2 bedrooms, 1 bath apartments. The fifth building, located at 620-644 Hagenbuch Street, is a four-unit building featuring two 2 bedrooms, 1 bath apartments and two 1 bedroom, 1 bath apartments. Combined, the five buildings offer approximately 7,232 square feet of living space and generates a rental income of $8,675 per month. Some units have been remodeled, while others present opportunities for value-added improvements. Current rents range from $425 to $900 per month, offering potential for increased income as leases renew. The property also benefits from a stable tenant base, with several long-term residents who have occupied their units for 11, 15, and more than 20 years. The sale includes 12 refrigerators and 12 ranges, allowing for a smooth transition to new ownership. The owner currently pays for water, sewer and trash service, with water/sewer expenses averaging approximately $360 per month, while tenants are responsible for all other utilities. Current annual property insurance is approximately $6,100. With a diverse unit mix, established occupancy, and opportunity to increase rental income, this well-located multi-family property presents an excellent investment opportunity for both new and experienced investors.
Location
State OH
County Champaign
Area 1.19
Rooms
Other Rooms None
Dining Room No
Interior
Equipment No
Laundry No Laundry Rooms
Schools
High Schools Urbana Csd 1104 Cha Co.
School District Urbana Csd 1104 Cha Co.
Others
Tax ID K48-25-00-04-05-012-02
Acceptable Financing Conventional
Listing Terms Conventional
Virtual Tour https://www.propertypanorama.com/instaview/wrist/1047199#tour
Listed by V. Patrick Hamilton REMAX Alliance Realty
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