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    45 5Th St Newark, OH 43055

    For Sale
    $449,900

    Five-unit apartment building, excellent ROI.

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    362
    This well-maintained, five-unit apartment building presents a compelling investment opportunity in Newark, Ohio's vibrant downtown. Situated on a 4,791.6 square foot lot, this two-story, 2,870 square foot property boasts four studio units on the first floor and a one-bedroom, one-bathroom unit on the second floor. All units include washer/dryer hookups and convenient off-street and on-street parking. Four units currently command $800 per month in rent, while the fifth unit rents for $760 per month; the second-floor unit has a long-term tenant. Recent improvements include a new roof (within the last five years), exterior painting, new upstairs windows, and some downstairs window replacements. Two first-floor units are currently undergoing updates. A storage shed is also located on the property. The building's prime location within the Special Improvement District (SID) offers easy access to major roadways, including SR 16/40/79/161 and I-70/270/71. The asking price is $449,900, representing a price per square foot of $156.76. Built in 1920, this property offers a blend of historic charm and modern updates, making it an attractive investment for discerning buyers.

    Property Features for 45 5Th St

    General Information

    Property type
    Multifamily properties

    Building Details

    Year Built
    1920
    Units
    5

    HighLights

    • $449,900 asking price.
    • Multifamily property with 5 units, located in Newark, OH.
    • 2,870 square feet on a 4,791.6 square foot lot.
    • Four studio units and one one‑bedroom/one‑bathroom unit.
    • Located in Newark's Special Improvement District (SID), with easy highway access.
    Property Profile Location Intelligence

    Current Use by Public Records

    Small apartment buildings

    Suggested Use

    Department Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Newark
    County
    Licking
    State
    Ohio
    Longitude
    -82.4054564
    Latitude
    40.0552575

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    FAQs

    What type of property is this?
    Multifamily property - Five-unit apartment building, excellent ROI.
    Where is this multifamily property located?
    The property is located at 45 5Th St Newark, OH.
    What is the asking price?
    The asking price for this property is $449,900.
    What are key features of this property?
    This property features: $449,900 asking price.; Multifamily property with 5 units, located in Newark, OH.; 2,870 square feet on a 4,791.6 square foot lot.
    Request Owner's contact information
    45 5Th 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
    45 5Th St Newark, OH 43055
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