214 Seffner Ave Marion, OH 43302
- Apartment buildings
Current Use by Public Records
- Apartment buildings
Property Details for 214 Seffner Ave
- Year built
- 1920
- Property type
- Apartment buildings
- Property subtype
- Small apartment buildings
Description
This exceptional investment opportunity presents a well-maintained, recently updated multifamily portfolio in Marion, Ohio. The portfolio comprises 46 units, strategically divided into a 15-unit complex (including a six-unit building, a five-unit building, two duplexes, a laundromat, and a 3,000 square foot storage garage), ten additional duplexes, and eleven single-family homes. Situated on a 10,890 square foot lot, the property boasts a 97% occupancy rate with strong, reliable tenants. Extensive renovations were completed in 2022, including consistent upgrades across units such as LVP flooring and standardized paint colors, simplifying maintenance and maximizing efficiency. The property benefits from a streamlined management system, utilizing Tenant Cloud for online payments and tenant communication. The on-site laundromat generates supplemental income, and the storage garage offers additional rental potential. Built in 1920, this turnkey portfolio offers a compelling 8.4% cap rate with a net operating income exceeding $380,000. Currently, one unit is undergoing renovation. This is a rare opportunity to acquire a high-performing, well-managed multifamily asset in a desirable location. The asking price is $4,195,000.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Marion
- County
- Marion
- State
- Ohio
- Longitude
- -83.1104
- Latitude
- 40.587
