12-Unit Apartment Building
For Sale
$809,900
620672 620-672 Hagenbuch St, Urbana, OH 43078
Five-building apartment property with a mix of one- and two-bedroom units in Urbana, Ohio.
Property Size7,232 SF
Lot Size1.19 Acres
Price / SF$111.99
Days on Market53
Property Features for 620672 620-672 Hagenbuch St
General Information
Standard status
Active
Size
7,232 SF
Lot size
1.19 Acres
Property subtype
Multi-Family
Property Condition
Severity
Repairs Needed
Evidence
opportunities for value-added improvements
Units
Unit Mix
10 x 2BR/1BA, 2 x 1BR/1BA
Multifamily Units
12
Additional Details
Gross Income
$104,100
Utilities to Site
Yes
Building Details
Year Built
1955
Buildings
5
Listing Agency:
REMAX Alliance Realty
Listed By:
V. Patrick Hamilton · License #2004002933
(937) 652-1100
Source:
Thelorilynngroup
Added: Aug 24
Changed: Oct 10
Last Checked: Oct 7 at 4:49PM
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 REMAX Alliance Realty
Investment Insights
Based on property information with market context.
This 12-unit apartment property comprises five separate buildings on 1.19 acres across three parcels. The unit mix includes 10 two-bedroom, one-bath apartments and two one-bedroom, one-bath apartments, with approximately 7,232 square feet of living space. The buildings were constructed in 1955, and select apartments have received remodeling work while others offer improvement opportunities.
The property includes four duplex buildings along Hagenbuch Street and a four-unit building at 620-644 Hagenbuch Street, with an additional duplex at 807-809 Concord Street. The sale includes 12 refrigerators and 12 ranges. Several residents have occupied their apartments for 11, 15, and more than 20 years. Ownership currently handles water, sewer, and trash service, while residents pay the remaining utilities.
The property includes four duplex buildings along Hagenbuch Street and a four-unit building at 620-644 Hagenbuch Street, with an additional duplex at 807-809 Concord Street. The sale includes 12 refrigerators and 12 ranges. Several residents have occupied their apartments for 11, 15, and more than 20 years. Ownership currently handles water, sewer, and trash service, while residents pay the remaining utilities.
Key Highlights
- 12 rental units across five separate buildings on 1.19 acres
- Approximately 7,232 square feet of living space across three parcels
- Unit mix includes 10 two‑bedroom and 2 one‑bedroom apartments
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$24,992
Cap Rate
3.09%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$499,840
$499.8K
Cap Rate 7%
$357,029
$357.0K
Cap Rate 9%
$277,689
$277.7K
Market Conditions
NOI Build-Up for 7,232 SF
Gross rent
$38.2K $5.28/SF
− Vacancy
−$2.5K −$0.34/SF
EGI
$35.7K $4.94/SF
− OpEx
−$10.7K −$1.48/SF
NOI
$25.0K $3.46/SF
Area
Champaign County, OH
Vacancy
6.50%
Lease Rate
$5.28 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$499,840
Cap Rate 7%
$357,029
Cap Rate 9%
$277,689
Alternative Uses
Best Use
Multifamily LT 5
$357.0K
$312.4K – $416.5K
NOI $24,992 @ 7.0% cap · market cap 3.09%
Second Best
Apartment 5plus
$303.8K
$265.9K – $354.5K
NOI $21,268 @ 7.0% cap · market cap 2.63%
Theoretical Best
Specialty Retail
$2.02M
$1.77M – $2.35M
NOI $141,205 @ 7.0% cap · market cap 17.43%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
12
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
223
Businesses Nearby
Explore this area
Business Placement
Demographics for 43078, OH
20,067
Population
8,904
Households
2.3
Avg Household Size
43
Median Age
22%
College-Educated
91%
High-School Grad
150.4 sq mi
ZIP Area
133
Density / Sq Mi
$72,500
Median Household Income
$40,854
Median Earnings
$909
Median Rent
$176,300
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?
Apartment building - Five-building apartment property with a mix of one- and two-bedroom units in Urbana, Ohio.
Where is this apartment building located?
The property is located at 620672 620-672 Hagenbuch St Urbana, OH.
What is the asking price?
The asking price for this property is $809,900.
What are key features of this property?
This property features: 12 rental units across five separate buildings on 1.19 acres; Approximately 7,232 square feet of living space across three parcels; Unit mix includes 10 two‑bedroom and 2 one‑bedroom apartments
