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    500 Eastern Ave New Lexington, OH 43764

    For Sale
    $297,000

    MULTI_FAMILY - New Lexington, OH

    Property size:
    2,500 SF
    Lot size:
    0.15 Acres
    Days on Market:
    32
    Last Refresh:
    Dec 15 at 8:06 am

    Property Features for 500 Eastern Ave

    General Information

    Special listing conditions
    Standard
    Property type
    Residential Multi Family
    Property subtype
    Other
    TransactionType
    Standard
    Standard status
    Active
    Rooms
    Bedroom 6, Bathroom 3, Laundry Room, Basement, Bedroom 4, Bathroom 1, Bedroom 2, Bedroom 5, Bedroom 1, Bedroom 3, Bathroom 2
    Bedrooms
    6
    Bathrooms
    3
    APN
    270003010000
    Interior features
    CeilingFans
    Appliances
    Dryer, Refrigerator, Washer
    Size
    2,500 SF
    Lot size
    0.15 Acres

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Natural Gas
    Cooling system
    Central Air, Window Unit(s)
    Water source
    Public

    Building Details

    Year built
    1991
    Floors in Building
    2
    Building materials
    VinylSiding
    Roof type
    Metal

    Ohio Broker Direct (614) 989-7215 [email protected]

    Listing agent Joan Elflein (614) 989-7215 License #386319

    Listing date Nov 14, 2025

    MLS# 5149912 Listing URL

    Copyright © 2025 MLS Now. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Renovated Triplex Investment Opportunity

    Located in New Lexington, Ohio, this fully renovated 3-unit property presents an income-generating opportunity. The turnkey investment features a duplex and a rear cottage-style unit, each with its own character. Renovated two years ago, all units include new HVAC systems, modern finishes, and updated utilities. All three units have been continuously leased since the renovation, and three active leases are currently in place. Side A of the duplex will become available at the end of August, presenting an opportunity to re-rent for additional income or for owner occupancy. Each unit is individually metered for gas, water, and electric, simplifying expense management. The property spans two parcels, one for the duplex and one for the cottage, offering flexibility for future development or resale. Situated near schools, a public park, basketball court, and swimming pool, this property is attractive to families and long-term tenants. The property size is 2500 square feet and the lot size is 0.15 acres.
    Property Profile Location Intelligence

    Current Use by Public Records

    Triplexes

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    New Lexington
    County
    Perry
    State
    Ohio
    Longitude
    -82.200463
    Latitude
    39.712082

    Nearby Similar for Sale

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    • $339,900
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      Prime New Lexington Daycare Center

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    FAQs

    What type of property is this?
    Triplex - Fully renovated 3-unit property in New Lexington, Ohio.
    Where is this triplex located?
    The property is located at 500 Eastern Ave New Lexington, OH.
    What is the asking price?
    The asking price for this property is $297,000.
    What are key features of this property?
    This property features: - Fully renovated 3-unit property (duplex and cottage) offering immediate income generation.; - All units feature new HVAC systems, modern finishes, and updated utilities (renovated two years ago).; - Strong rental history with all units continuously leased since renovation; three active leases in place.
    (614) 989-7215
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    New Lexington, OH 43764
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    500 Eastern Ave New Lexington, OH 43764
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