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    51 North St Newark, OH 43055

    For Sale
    $275,000

    Five-unit apartment building, renovated, high ROI.

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    370
    This exceptional five-unit apartment building, located at 51 E North Street in Newark, Ohio, presents a compelling investment opportunity. Built in 1918 and situated on a 6,098.4 square foot lot, the property boasts a desirable location near the upcoming Intel plant, promising strong rental demand. The asking price is $275,000, translating to $108.87 per square foot. Each of the five units features one bedroom and one bathroom. Extensive renovations have been completed, including new paint throughout, new flooring, updated plumbing, new hot water tanks, and a brand-new roof. The exterior has also received a fresh coat of paint. Individual gas meters for each unit offer efficient utility management. Currently vacant, this property allows for immediate implementation of your rental strategy and the potential for maximizing rental income due to high market rents. The property is easily accessible for showings, making due diligence a straightforward process. This is a turnkey investment ready for immediate cash flow. Don't miss this chance to acquire a profitable multifamily property in a rapidly growing area.

    Property Features for 51 North St

    General Information

    Property type
    Multifamily properties

    Building Details

    Year Built
    1918
    Units
    5
    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
    Newark
    County
    Licking
    State
    Ohio
    Longitude
    -82.405994
    Latitude
    40.0694453

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    FAQs

    What type of property is this?
    Multifamily property - Five-unit apartment building, renovated, high ROI.
    Where is this multifamily property located?
    The property is located at 51 North St Newark, OH.
    What is the asking price?
    The asking price for this property is $275,000.
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    51 North St Newark, OH 43055
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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
    51 North St Newark, OH 43055
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