45 5Th St Newark, OH 43055
- Apartment buildings
- 2,870 SF
- 0.11 lot acres
Current Use by Public Records
- Apartment buildings
Property Details for 45 5Th St
- Year built
- 1920
- Lot size
- 0.11 lot acres
- Property size
- 2,870 SF
- Property type
- Apartment buildings
Description
This well-maintained, two-story apartment building presents a compelling investment opportunity in Newark, Ohio's vibrant downtown. Located within the Special Improvement District (SID), this 2,870 square foot property boasts five units: four studios on the first floor and a one-bedroom, one-bathroom unit on the second. All units include washer/dryer hookups and offer convenient off-street and on-street parking. Four units currently generate $800 per month in rent, while the fifth unit commands $760 monthly, with a long-term tenant in place. Recent improvements include a new roof (within the last five years), exterior painting, new upstairs windows, and partial window replacements downstairs. Two first-floor units are currently undergoing updates. The property also features a storage shed. Its prime location provides easy access to major roadways, including SR 16, 40, 79, 161, and I-70, 270, and 71. The building's previous use included retail space with two storefronts, offering potential for future adaptability. This 0.114-acre lot houses a 1920-built structure, offering a blend of historic charm and modern updates. The asking price is $449,000, translating to $156.45 per square foot and $89,800 per unit.
Value Estimation
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Newark
- County
- Licking
- State
- Ohio
- Longitude
- -82.4055
- Latitude
- 40.0553
