2098 Us-42Delaware, OH 43015

Property Details for 2098 Us-42

Year built

1901

Lot size

4.82 AC

Property size (Sq ft)

13,087 SF

Property type

Apartment buildings

Description

This exceptional multifamily investment opportunity presents a fully renovated 15-unit apartment building situated on a 4.82-acre lot in Delaware, Ohio (43015). The property, boasting 13,087 square feet, comprises four buildings – one positioned at the front and three at the rear – offering a mix of single-story and townhome units with one, two, and three-bedroom configurations. Completely remodeled in 2023, the property features brand-new plumbing, electrical systems, flooring, bathrooms, kitchens, and appliances. Significant upgrades also include new water tanks, furnaces, HVAC units, and roofs across all buildings. The front building and garage received brand-new siding. Further enhancing its appeal, the property is now connected to city water and enjoys a 100% occupancy rate, generating a strong Net Operating Income (NOI) of $195,043.47 and an 8.13% capitalization rate. The property's location is highly desirable, nestled between Sawmill Parkway and London Road on US Highway 42, just outside of Delaware. The well-maintained septic tank and recently replaced sump pump and belt contribute to the property's overall excellent condition. This turnkey investment offers immediate cash flow and significant potential for future appreciation. The asking price is $2,400,000. APN: 419-210-07-006-000. Built in 1901.

Location Insight

City

Delaware

County

Delaware

State

Ohio

Latitude

40.276

Longitude

-83.1012

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