45 5Th StNewark, OH 43055

Property Details for 45 5Th St

Year built

1920

Property type

Other commercial real estate

Property subtype

Multifamily properties

Description

This well-maintained, five-unit apartment building presents a compelling investment opportunity in Newark, Ohio's vibrant downtown. Situated on a 4,791.6 square foot lot, this two-story, 2,870 square foot property boasts four studio units on the first floor and a one-bedroom, one-bathroom unit on the second floor. All units include washer/dryer hookups and convenient off-street and on-street parking. Four units currently command $800 per month in rent, while the fifth unit rents for $760 per month; the second-floor unit has a long-term tenant. Recent improvements include a new roof (within the last five years), exterior painting, new upstairs windows, and some downstairs window replacements. Two first-floor units are currently undergoing updates. A storage shed is also located on the property. The building's prime location within the Special Improvement District (SID) offers easy access to major roadways, including SR 16/40/79/161 and I-70/270/71. The asking price is $449,900, representing a price per square foot of $156.76. Built in 1920, this property offers a blend of historic charm and modern updates, making it an attractive investment for discerning buyers.

Location Insight

City

Newark

County

Licking

State

Ohio

Latitude

40.0553

Longitude

-82.4055

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