Multifamily Residential
For Sale
$2,500,000
1221-1223 2nd Street Nw New Philadelphia, New Philadelphia, OH 44663
38-unit diversified portfolio generating approximately $336,000 in gross annual income and about $200,000 in net operating income.
Property SizeContact for details
Days on Market45
Property Features for 1221-1223 2nd Street Nw New Philadelphia
General Information
Standard status
Active
Financials
Cap Rate
8%
Business Included
Yes
Additional Details
Multifamily Units
38
Taxes and HOA fees
Annual Taxes
$4,421
Amenities
true
0.441
Assessor
Building Details
Year Built
1966
Listing Agency:
(330) 472-2967
Listed By:
Christina Moretti
(330) 472-2967
Source:
Christinamoretti.exprealty
Added: Jul 13
Changed: Aug 8
Last Checked: Aug 26 at 6:39AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Christina Moretti
Investment Insights
Based on property information with market context.
The New Philadelphia Portfolio is a 38-unit residential investment package featuring a diversified mix of multifamily and single-family properties, offered as an income-producing portfolio with supporting real rent roll and trailing twelve-month financials. The portfolio is described as stabilized, with approximately $336,000 in gross annual income and about $200,000 in net operating income, reflecting an 8.0 percent going-in cap rate based on actual performance.
The portfolio is located in New Philadelphia and Strasburg, Ohio, and includes properties at 1221–1223 2nd Street NW as provided in the listing information.
The offering also highlights projected performance improvements, including lease-up of select units, rent normalization for rents described as below market, and continued operational efficiency improvements. These projections are stated to increase NOI to roughly $213,000–$217,000 and support an estimated 8.5–8.7 percent stabilized cap rate.
The portfolio is located in New Philadelphia and Strasburg, Ohio, and includes properties at 1221–1223 2nd Street NW as provided in the listing information.
The offering also highlights projected performance improvements, including lease-up of select units, rent normalization for rents described as below market, and continued operational efficiency improvements. These projections are stated to increase NOI to roughly $213,000–$217,000 and support an estimated 8.5–8.7 percent stabilized cap rate.
Key Highlights
- 38‑unit diversified residential investment package in New Philadelphia & Strasburg, Ohio
- Produces approximately $336,000 in gross annual income and about $200,000 in net operating income
- Based on actual performance, the portfolio reflects an 8.0% going‑in cap rate
Property Analytics
Current Use
Lease Details
38
Residential units
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
450
Businesses Nearby
Explore this area
Business Placement
Demographics for 44663, OH
25,601
Population
11,702
Households
2.2
Avg Household Size
43
Median Age
21%
College-Educated
91%
High-School Grad
96.2 sq mi
ZIP Area
266
Density / Sq Mi
$62,383
Median Household Income
$36,495
Median Earnings
$859
Median Rent
$177,100
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Multifamily property - 38-unit diversified portfolio generating approximately $336,000 in gross annual income and about $200,000 in net operating income.
Where is this multifamily property located?
The property is located at 1221-1223 2nd Street Nw New Philadelphia New Philadelphia, OH.
What is the asking price?
The asking price for this property is $2,500,000.
What are key features of this property?
This property features: 38‑unit diversified residential investment package in New Philadelphia & Strasburg, Ohio; Produces approximately $336,000 in gross annual income and about $200,000 in net operating income; Based on actual performance, the portfolio reflects an 8.0% going‑in cap rate
