29 Wyoming StNewark, OH 43055

Property Details for 29 Wyoming St

Property type

Investment properties

Property subtype

Multifamily properties

Description

This exceptional investment opportunity presents a portfolio of twelve rental units in Newark, Ohio, comprising four duplexes and one four-unit building. The portfolio boasts a strong 12% capitalization rate and a current NOI of $9,404, with an occupancy rate of 83% as of December 9, 2024. The properties are classified as Class C and represent a value-add investment opportunity. The portfolio is currently owned by an LLC and is being offered as a 1031 exchange eligible property. The asking price for this turnkey investment is $980,000. The properties are strategically located at various addresses within Newark, in Licking County, Ohio, including 29 Wyoming St, 561 W Main St, 208 W Church St (including 208 1/2 Church St), 240 W Main St, and 63-65 E Stevens St, all within the 43055 zip code. This portfolio offers a compelling opportunity for investors seeking consistent income generation and potential for future appreciation. The properties are well-maintained and benefit from desirable neighborhood locations, contributing to strong tenant retention and rental income. The current occupancy provides a solid foundation for immediate cash flow, with potential for increased revenue through future rent adjustments. This portfolio is ideal for investors seeking a diversified, income-producing asset in a stable market.

Location Insight

City

Newark

County

Licking

State

Ohio

Latitude

40.0628

Longitude

-82.4037

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