2098 Us-42 Delaware, OH 43015
- Apartment buildings
- 13,087 SF
- 4.82 lot acres
Current Use by Public Records
- Apartment buildings
Property Details for 2098 Us-42
- Year built
- 1901
- Lot size
- 4.82 lot acres
- Property size
- 13,087 SF
- Property type
- Apartment buildings
Description
This exceptional multifamily investment opportunity presents a fully renovated 15-unit apartment building situated on a 4.82-acre lot in Delaware, Ohio (43015). The property, boasting 13,087 square feet, comprises four buildings – one positioned at the front and three at the rear – offering a mix of single-story and townhome units with one, two, and three-bedroom configurations. Completely remodeled in 2023, the property features brand-new plumbing, electrical systems, flooring, bathrooms, kitchens, and appliances. Significant upgrades also include new water tanks, furnaces, HVAC units, and roofs across all buildings. The front building and garage received brand-new siding. Further enhancing its appeal, the property is now connected to city water and enjoys a 100% occupancy rate, generating a strong Net Operating Income (NOI) of $195,043.47 and an 8.13% capitalization rate. The property's location is highly desirable, nestled between Sawmill Parkway and London Road on US Highway 42, just outside of Delaware. The well-maintained septic tank and recently replaced sump pump and belt contribute to the property's overall excellent condition. This turnkey investment offers immediate cash flow and significant potential for future appreciation. The asking price is $2,400,000. APN: 419-210-07-006-000. Built in 1901.
Value Estimation
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Delaware
- County
- Delaware
- State
- Ohio
- Longitude
- -83.1012
- Latitude
- 40.276
