403 Maple Ave Newark, OH 43055

Property Details for 403 Maple Ave

Year built

1900

Property type

Small apartment buildings

Description

This exceptional 9-unit apartment building in Newark, Ohio presents a compelling investment opportunity. Located at 403 Maple Avenue, 43055, this property boasts a substantial 5,662.8 square foot lot and was built in 1900. Recent improvements totaling $250,000 have significantly enhanced the property's value and appeal. Three units are brand new, a fourth is undergoing complete renovation, and three others have been renovated within the past two years, representing a total investment of $280,000 in upgrades. The building features a mix of unit sizes, including three 3-bedroom units and six 1-bedroom units. Current monthly rents range from $725 to $1300, with some units currently vacant but projected to command rents of $666 and $1200. Extensive renovations encompass electrical and plumbing systems, along with other upgrades throughout the building. A parking lot located at 40 North Street is included with the property. The asking price is $1,300,000, translating to $338.54 per square foot. This property offers a strong potential for immediate cash flow and long-term appreciation. The combination of recent renovations, diverse unit sizes, and a desirable location makes this a truly remarkable investment opportunity.