2521 Stoney Rdg Rd 7 Avon, OH 44011-1868

Exceptional investment opportunity in Avon, Ohio, featuring a 9-unit apartment building and 2 retail spaces. This mixed-use property boasts 3,800 square feet on a 25,000 square foot lot, with two buildings and two stories. Six large two-bedroom units and three smaller retail/residential units are included, five of which have been completely remodeled (2022-2023). The property benefits from low operating expenses, with tenants covering electricity, wifi, and partial water/sewer costs. In-suite washers and dryers are included in the two-bedroom units, and ample parking is available. Capital expenditures have included roof, window, and HVAC upgrades. The property currently enjoys 100% occupancy (as of January 1, 2024), generating a strong NOI of $102,960 and a pro-forma NOI of $128,700. The asking price is $995,000, representing a current cap rate of 10.35% and a pro-forma cap rate of 12.93%. The property is zoned for mixed use and offers a compelling return on investment. This is a rare opportunity in a desirable location, and it is expected to sell quickly. The property is privately owned and sold as-is. Property details include APN numbers 04-00-010-116-033 & 034.