Four-Unit Apartment
490 North Jay Street West Milton, OH 45383
490 North Jay Street, West Milton, OH, 45383
$400,000
For Sale
$400,000
Four 2-bedroom units include in-unit washer/dryer hookups, with tenants paying utilities except trash.
Property Size1,854 SF
Price / SF$215.75
Days on Market610
Property Features for 490 North Jay Street
General Information
- Standard status
- Active
- Size
- 1,854 SF
- Property subtype
- Multi-Family / Townhouse
Building Details
- Year Built
- 1963
Listing agency
Roby Realty
(614) 419-2668
Listed by
Andrew C Wade · License #2016002338
(614) 419-2668
Source
Compass
Added: Nov 18, 2024 Updated: Jul 21 at 5:51AM Checked: Jul 21 at 5:51AM
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 Roby Realty
Investment Insights
Based on property information with market context.
This is a low-maintenance 4-unit apartment building with four spacious 2-bedroom units. Each unit includes in-unit washer/dryer hookups. The property is currently fully occupied with mostly long-term tenants, and it is being sold in as-is condition.
Tenants are responsible for all utilities except trash. Recent exterior improvements include a full roof tear-off and replacement, along with newer gutters installed on the rear side. A new concrete parking pad was poured in 2022.
The building’s current income performance is supported by a stated yearly net operating income of $33,360. The offering includes four independently rented residential units configured for ongoing income generation.
Tenants are responsible for all utilities except trash. Recent exterior improvements include a full roof tear-off and replacement, along with newer gutters installed on the rear side. A new concrete parking pad was poured in 2022.
The building’s current income performance is supported by a stated yearly net operating income of $33,360. The offering includes four independently rented residential units configured for ongoing income generation.
Key Highlights
- 1963‑built, low‑maintenance 4‑unit apartment building with four 2‑bedroom units
- Each unit includes in‑unit washer/dryer hookups
- All utilities paid by tenants except trash
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $25.6k | $13.80 |
| − Vacancy | −$1.6k | −$0.85 |
| EGI | $24.0k | $12.95 |
| − OpEx | −$7.2k | −$3.88 |
| NOI | $16.8k | $9.06 |
1,854 SF · lease $13.80/SF/yr · vacancy 6.17% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$240.1K
$210.1K – $280.1K
NOI $16,805 @ 7.0% cap · market cap 4.20%
Second Best
Apartment 5plus
$209.2K
$183.1K – $244.1K
NOI $14,645 @ 7.0% cap · market cap 3.66%
Theoretical Best
Office A
$377.9K
$330.6K – $440.8K
NOI $26,450 @ 7.0% cap · market cap 6.61%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Quadplexes
FAQs
What type of property is this?
Quadplex - Four 2-bedroom units include in-unit washer/dryer hookups, with tenants paying utilities except trash.
Where is this quadplex located?
The property is located at 490 North Jay Street West Milton, OH.
What is the asking price?
The asking price for this property is $400,000.
What are key features of this property?
This property features: 1963‑built, low‑maintenance 4‑unit apartment building with four 2‑bedroom units; Each unit includes in‑unit washer/dryer hookups; All utilities paid by tenants except trash
