1500 Smt St Portsmouth, OH 45662
- Apartment buildings
- 0.22 lot acres
Mar 18, 2025
Current Use by Public Records
- Apartment buildings
Property Details for 1500 Smt St
- Lot size
- 0.22 lot acres
- Property type
- Apartment buildings
- APN
- 33-1872.000
- APU
- 331872000
Description
This exceptional multifamily investment opportunity in Portsmouth, Ohio, presents a portfolio of 17 units spread across four buildings and five parcels. The property, built in 1970 and classified as Class B, boasts a total of 14,459 square feet. The portfolio includes a quadplex, duplex, single-family home, and ten townhouse units, along with a vacant lot. Currently, some units are occupied, contributing to low operating expenses. Individual electric meters are installed for each unit, simplifying utility management. City water and sewer services are in place, and the property features central heating and air conditioning throughout. The property offers a compelling pro-forma net operating income (NOI) of $123,000, resulting in an attractive pro-forma cap rate of 20.67%. The asking price for this high-yield investment is $595,000. This presents a rare chance to acquire a well-positioned multifamily portfolio in a stable market with significant upside potential. The property's diverse unit mix and existing occupancy provide immediate cash flow, while the vacant lot offers potential for future development or expansion. This is an ideal investment for those seeking strong returns and long-term growth. The property is located at 1500 Summit St, Portsmouth, OH 45662.
Value Estimations
-
AI approach
- Method
- Estimation
- Statistic approach
- $485,000
- ML approach
- $555,000
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Location Insight
- Map
- Local Demand
- City
- Portsmouth
- County
- Scioto
- State
- Ohio
- Longitude
- -82.9742
- Latitude
- 38.7426
- CBSA code
- 39020
- CBSA name
- PORTSMOUTH, OH MICROPOLITAN STATISTICAL AREA
