2069 Hubbard Rd Madison, OH 44057
Property profile & analytics
2069 Hubbard Rd Madison, OH 44057
- Apartment buildings
- 11.55 lot acres
Property ID
US66-2550037
The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
Location Intelligence
Current Use by Public Records
- Apartment buildings
Property Details for 2069 Hubbard Rd
- Year built
- 1980
- Lot size
- 11.55 lot acres
- Property type
- Apartment buildings
Description
This exceptional investment opportunity presents a portfolio of 62 apartment units situated in Madison, Ohio, a vibrant community conveniently located east of Cleveland. The portfolio comprises four properties within a one-mile radius, simplifying management and maximizing operational efficiency. Currently boasting a high occupancy rate, this stabilized asset offers immediate cash flow and significant upside potential. The portfolio includes a mix of 44 three-bedroom units and 18 two-bedroom units, many featuring desirable amenities such as townhome-style floor plans, dishwashers, utility rooms, and decks. Approximately 29 units have undergone recent renovations, including new flooring, updated kitchens and bathrooms, and modern fixtures and appliances. Further renovations of the remaining units present a clear path to increase rental income. Pro forma rents are projected to exceed $1,250 for three-bedroom units and $1,050 for two-bedroom units, potentially generating over $72,000 in monthly rental income. Additional income streams are anticipated from utility and pet fees. The property sits on 11.55 acres of land and benefits from a strong local economy, with a median annual income exceeding $87,000. Its proximity to Lake Erie, Cleveland, Mentor, and Painesville provides tenants with ample entertainment and employment options. A current property manager is in place and willing to continue, offering a turnkey operation. Tenants are responsible for gas, electric, and water (for 6 separately metered units). With a potential 7% cap rate and based on historical expenses, the pro forma value could surpass $8 million. This is an ideal acquisition for investors seeking a high-performing, multifamily asset with substantial growth prospects.
Value Estimations
based on Realmo’s proprietary methodology
-
AI approach
-
CAP approach
-
Comparable approach
-
Alternative Use
Get a detailed, property-specific estimation — fast and free
Location Insight
- Map
- Local Demand
- City
- Madison
- County
- Lake
- State
- Ohio
- Longitude
- -81.04838
- Latitude
- 41.81758
