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    885 Mount Vernon Ave Marion, OH 43302

    Sponsored
    For Sale
    $215,000

    Two-unit apartment building, high rental potential.

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    This charming two-unit apartment building, located at 885 Mt Vernon Avenue in Marion, Ohio, presents a fantastic investment opportunity. Built in 1907 and situated on a 7,405.2 square foot lot, this property offers two units, each featuring two bedrooms and one bathroom. The asking price is $215,000, translating to $100.28 per square foot. Both units are currently rented on a month-to-month basis, with tenants expressing a desire to remain. Importantly, current rental rates are below market value, providing immediate potential for increased income. The property boasts significant recent upgrades, including a new roof and HVAC system installed in 2018. Tenants are responsible for all utilities. Showings are readily available within 24 hours of an accepted offer. This property offers a blend of historical charm and modern updates, making it an attractive investment for both seasoned and novice investors seeking strong returns in a desirable Ohio location. The property's zip code is 43302.

    Property Features for 885 Mount Vernon Ave

    General Information

    Property type
    Multifamily properties

    Building Details

    Year Built
    1907
    Units
    2

    HighLights

    • $215,000 asking price.
    • Multifamily property, specifically a two‑unit apartment building (duplex).
    • $100.28 price per square foot.
    • Two units, each with two bedrooms and one bathroom.
    • Built in 1907, situated on a 7,405.2 sq ft lot.
    • Roof and HVAC systems replaced in 2018.
    Property Profile Location Intelligence

    Current Use by Public Records

    Small apartment buildings

    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
    Marion
    County
    Marion
    State
    Ohio
    Longitude
    -83.1098691
    Latitude
    40.5807055

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    FAQs

    What type of property is this?
    Multifamily property - Two-unit apartment building, high rental potential.
    Where is this multifamily property located?
    The property is located at 885 Mount Vernon Ave Marion, OH.
    What is the asking price?
    The asking price for this property is $215,000.
    What are key features of this property?
    This property features: $215,000 asking price.; Multifamily property, specifically a two-unit apartment building (duplex).; $100.28 price per square foot.
    Request Owner's contact information
    885 Mount Vernon Ave Marion, OH 43302
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    Marion, OH 43302
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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
    885 Mount Vernon Ave Marion, OH 43302
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