Eight-Unit Quadplex
For Sale
$334,500
832 Michigan Ave, Youngstown, OH 44504
Two apartment buildings offer two-bedroom layouts, rear parking, and proximity to Youngstown State University.
Property Size3,600 SF
Price / SF$92.92
Days on Market49
Property Features for 832 Michigan Ave
General Information
Standard status
Active
Size
3,600 SF
Total Parking Spaces
13
Property subtype
Multi-Family
Units
Unit Mix
8 x 2BR/1BA
Multifamily Units
8
Additional Details
Average Monthly Rent
$1,150
Amenities
laundry facility
security system
storage shed
Building Details
Year Built
2006
Buildings
2
Listing Agency:
More Options Realty, LLC
Listed By:
Bella Neapolitan
(330) 774-7487
Source:
Theacclaimedrealty
Added: Sep 9
Changed: Oct 25
Last Checked: Oct 7 at 5:18PM
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 More Options Realty, LLC
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Investment Insights
Based on property information with market context.
Located at 832 Michigan Ave, this multifamily property consists of two four-unit buildings with eight apartments. Each unit is configured with 2 bedrooms and 1 bathroom and measures approximately 900 square feet. The buildings date to 2006, with 13 parking spaces positioned behind the property.
Six units are currently rented. One apartment has been adapted as a shared laundry room and may be converted back to residential use. The owner currently covers all utilities. Additional improvements include a security system and an owner-designated storage shed. The property is within walking distance of Youngstown State University, with a view of the stadium from the front yard, and Wick Park is also nearby.
The sale is structured with 836 Michigan Ave as a required companion property.
Six units are currently rented. One apartment has been adapted as a shared laundry room and may be converted back to residential use. The owner currently covers all utilities. Additional improvements include a security system and an owner-designated storage shed. The property is within walking distance of Youngstown State University, with a view of the stadium from the front yard, and Wick Park is also nearby.
The sale is structured with 836 Michigan Ave as a required companion property.
Key Highlights
- Two four‑unit buildings containing 8 apartment units
- Each apartment offers 2 bedrooms, 1 bathroom, and approximately 900 square feet
- Constructed in 2006 with 13 rear parking spaces
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$24,244
Cap Rate
7.25%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$484,880
$484.9K
Cap Rate 7%
$346,343
$346.3K
Cap Rate 9%
$269,378
$269.4K
Market Conditions
NOI Build-Up for 3,600 SF
Gross rent
$36.7K $10.20/SF
− Vacancy
−$2.1K −$0.58/SF
EGI
$34.6K $9.62/SF
− OpEx
−$10.4K −$2.89/SF
NOI
$24.2K $6.73/SF
Area
Mahoning County, OH
Vacancy
5.68%
Lease Rate
$10.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$484,880
Cap Rate 7%
$346,343
Cap Rate 9%
$269,378
Alternative Uses
Best Use
Multifamily LT 5
$346.3K
$303.1K – $404.1K
NOI $24,244 @ 7.0% cap · market cap 7.25%
Second Best
Apartment 5plus
$319.1K
$279.2K – $372.3K
NOI $22,339 @ 7.0% cap · market cap 6.68%
Theoretical Best
Office A
$679.4K
$594.4K – $792.6K
NOI $47,555 @ 7.0% cap · market cap 14.22%
Zoning and permitted uses should be independently verified with authorities.
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Open Analytics
Lease Details
8
Residential units
Location Intelligence
Trade Area within ½ mile
1,119
Businesses Nearby
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Business Placement
Demographics for 44504, OH
4,577
Population
2,474
Households
1.9
Avg Household Size
39
Median Age
27%
College-Educated
92%
High-School Grad
1.2 sq mi
ZIP Area
3,814
Density / Sq Mi
$40,156
Median Household Income
$20,445
Median Earnings
$770
Median Rent
$74,700
Median Home Value
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Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Quadplex - Two apartment buildings offer two-bedroom layouts, rear parking, and proximity to Youngstown State University.
Where is this quadplex located?
The property is located at 832 Michigan Ave Youngstown, OH.
What is the asking price?
The asking price for this property is $334,500.
What are key features of this property?
This property features: Two four‑unit buildings containing 8 apartment units; Each apartment offers 2 bedrooms, 1 bathroom, and approximately 900 square feet; Constructed in 2006 with 13 rear parking spaces
