1567 Karr StSpringfield, OH 45503

Property Details for 1567 Karr St

Year built

1918

Property type

Apartment buildings

Property subtype

Small apartment buildings

Description

This Springfield, Ohio triplex at 1567 Karr Street presents a compelling investment opportunity. Priced at $209,000, this 3-unit property boasts a 9.88% capitalization rate. Built in 1918, the property sits on an 11,761.2 square foot lot. Two of the units have undergone complete renovations, including the addition of in-unit washer/dryer hookups. Unit 1, a 1-bedroom unit, currently rents for $500, offering significant upside potential. Unit 2 and Unit 3 are both renovated 1-bedroom, 1-bathroom units, renting for $800 and $750 respectively. The property benefits from a relatively new roof (5-6 years old), recently installed gutters, and new water heaters. It's a furnace-free building, minimizing maintenance expenses. The owner's responsibility is limited to water and trash, resulting in very low overhead. This fully occupied property is ideal for both new investors and those seeking portfolio expansion. The property is located in Clark County, Ohio, zip code 45503. The price per square foot is $134.58.

Location Insight

City

Springfield

County

Clark

State

Ohio

Latitude

39.9409

Longitude

-83.773

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