For Sale
$4,195,000

214 Seffner AveMarion, OH 43302

46-Unit Apartment Complex, High Occupancy

Overview

Added:
Dec 11, 2024
Days on market:
114
This exceptional investment opportunity presents a well-maintained, recently updated multifamily portfolio in Marion, Ohio. The portfolio comprises 46 units, strategically divided into a 15-unit complex (including a six-unit building, a five-unit building, two duplexes, a laundromat, and a 3,000 square foot storage garage), ten additional duplexes, and eleven single-family homes. Situated on a 10,890 square foot lot, the property boasts a 97% occupancy rate with strong, reliable tenants. Extensive renovations were completed in 2022, including consistent upgrades across units such as LVP flooring and standardized paint colors, simplifying maintenance and maximizing efficiency. The property benefits from a streamlined management system, utilizing Tenant Cloud for online payments and tenant communication. The on-site laundromat generates supplemental income, and the storage garage offers additional rental potential. Built in 1920, this turnkey portfolio offers a compelling 8.4% cap rate with a net operating income exceeding $380,000. Currently, one unit is undergoing renovation. This is a rare opportunity to acquire a high-performing, well-managed multifamily asset in a desirable location. The asking price is $4,195,000.

Highlights

  • $4,195,000 asking price for a 46-unit multifamily portfolio.
  • Located at 214 S Seffner Avenue, Marion, OH 43302.
  • Consists of 15 units in one complex (including a laundromat and garage), 10 duplexes, and 11 single-family homes.
  • Recently renovated (2022) with consistent upgrades across units.
  • Features a 10,890 sq ft lot and offers an 8.4% cap rate with over $380,000 NOI.

Property Details for 214 Seffner Ave

Property type
Apartment buildings, Small apartment buildings
Year Built/Renovated
1920/2022
Units
46

Location Insight

City
Marion
County
Marion
State
Ohio
Latitude
40.5870359
Longitude
-83.1103966
214 Seffner Ave, Marion, Ohio

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214 Seffner Ave
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