446 Park Ave, Newark, OH 43055
This charming two-unit apartment building, located at 446 Park Avenue in Newark, Ohio, presents a fantastic investment opportunity. Built in 1910, the property sits on a sizable 6,969.6 square foot lot and is offered at $179,000 ($91.56 per square foot). The building comprises two distinct units: a downstairs unit featuring two bedrooms and one bathroom, and an upstairs unit with one bedroom and one bathroom. Each unit boasts separate utilities, including water, gas, and electric meters, offering convenient management and cost tracking. The downstairs unit is equipped with a gas furnace and central air conditioning, while the upstairs unit has a gas heater and window air conditioning units. Off-street parking is available both in the driveway and at the rear of the property. The property's layout offers flexibility; it could easily be converted back into a single-family home, or further renovations could potentially increase the number of bedrooms. This property is situated in the 43055 zip code of Newark, Licking County, Ohio. The combination of its location, size, and potential for future development makes this a compelling investment prospect.
Cap rate
Implied · in-place · derived from last sale + estimated NOIValue
AI, CAP & Alternative Use estimations · Realmo proprietary blendComparables
6 recent transactions · within 1.5 miComparable in this City
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Property description
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No recorded transactions found for this property.
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Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.