Commercial Real Estate for Sale at 205 Park Avenue in Youngstown, OH for $2,150,000

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205 Park Avenue | Youngstown North

$2,150,000 | 0.0 Sq. Ft.

WELL MAINTAINED, UPDATED, TURNKEY APARTMENT BUILDINGS. LOCATED ON ENTIRE SECTION OF BLOCK BETWEEN ELM ST. AND OHIO AVE by YOUNGSTOWN STATE UNIVERSITY. Eight multi-tenant properties on 5 land parcels in Mahoning County. Significant capital improvements completed. Property is across from Wick Park, down the street from Stambaugh Auditorium, and .6 miles from YSU Stadium. There are 30 apartments total with 51 units leased, and 3 vacancies as of August 2020 Rent Roll. NOT INCLUDING CURRENT CAPITAL IMPROVEMENTS: 2019 Gross Operating Expenses: Approximately $68,000/year. Thirty apartments varying from studio apartments to 1-9 bedroom apartments. Current capital improvements scheduled for completion by the end of September 2020. SEE ADDENDUMS FOR MORE INFO. 918 Elm St. building is commercially zoned, but is gutted and used as a warehouse for now for current projects - the owner has removed the 918 Elm St. building from the sale. The apartments are broken up into units based upon individual leases obtained for each tenant renting space. The majority of the tenancy rents space based upon this unit system. An apartment is described as a kitchen, living room, full bath and toilet. A unit is described as a private bedroom with common area privileges to other spaces within the apartment, i.e., the living room, the kitchen, and bathrooms, basement. Depending on buyers' management costs, debt servicing, and adjusted real estate taxes, buyer may have between 7+% to 9%cap rate. Yes-MLS 4208346 Directions to property: From 5th Avenue, go East on Park Avenue. Property is on the right (South side of the street). Property is across from Wick Park, down the street from Stambaugh Auditorium, and .6 miles from YSU Stadium.

MLS Listing ID: 
Yes-MLS 4208346
Listing Category: 
Purchase
Listing Status
Status of the Listing.
Listing Status: 
Active
Listing Pricing
Pricing information for this listing.
List Price: 
$2,150,000
Basic Property Information
Fields containing basic information about the property.
Property Type: 
Commercial
Property Sub Type: 
Apartment
Primary Market Area: 
Youngstown North
Address: 
205 Park Avenue, Youngstown, OH 44504
County: 
Mahoning
Latitude: 
41.1130270
Longitude: 
-80.6459110
Directions: 
From 5th Avenue, go East on Park Avenue. Property is on the right (South side of the street). Property is across from Wick Park, down the street from Stambaugh Auditorium, and .6 miles from YSU Stadium.
Public Remarks: 
WELL MAINTAINED, UPDATED, TURNKEY APARTMENT BUILDINGS. LOCATED ON ENTIRE SECTION OF BLOCK BETWEEN ELM ST. AND OHIO AVE by YOUNGSTOWN STATE UNIVERSITY. Eight multi-tenant properties on 5 land parcels in Mahoning County. Significant capital improvements completed. Property is across from Wick Park, down the street from Stambaugh Auditorium, and .6 miles from YSU Stadium. There are 30 apartments total with 51 units leased, and 3 vacancies as of August 2020 Rent Roll. NOT INCLUDING CURRENT CAPITAL IMPROVEMENTS: 2019 Gross Operating Expenses: Approximately $68,000/year. Thirty apartments varying from studio apartments to 1-9 bedroom apartments. Current capital improvements scheduled for completion by the end of September 2020. SEE ADDENDUMS FOR MORE INFO. 918 Elm St. building is commercially zoned, but is gutted and used as a warehouse for now for current projects - the owner has removed the 918 Elm St. building from the sale. The apartments are broken up into units based upon individual leases obtained for each tenant renting space. The majority of the tenancy rents space based upon this unit system. An apartment is described as a kitchen, living room, full bath and toilet. A unit is described as a private bedroom with common area privileges to other spaces within the apartment, i.e., the living room, the kitchen, and bathrooms, basement. Depending on buyers' management costs, debt servicing, and adjusted real estate taxes, buyer may have between 7+% to 9%cap rate.
Community Information
Subdivision: 
Park Ave
Building Details
Details about the building on a property.
Year Built: 
1902
Living Area: 
0.0
Basement: 
Common Basement
Construction
Roof: 
Asphalt, Fiberglass
Room Details
Details about the rooms in the building.
Total Bedrooms: 
0
Total Bathrooms: 
0
Total Full-Bathrooms: 
0
Total Half-Bathrooms: 
0
Total One-Quarter-Bathrooms: 
0
Total Three-Quarter-Bathrooms: 
0
Utilities
Information about utilities available on the property.
Heating System: 
Baseboard, Forced Air
Cooling System: 
Central Air
Water Source: 
Public
Sewer: 
Public Sewer
Lot/Land Details
Details about the lots and land features included on the property.
Acres: 
0.74
Lot Size (Area): 
0.74
Lot Features
Parking Type: 
Driveway, Outside, On Street
Public Record
Parcel Number: 
53-005-0-394.00-0
Annual Tax: 
$9,368.00
Contract Details
Details about the listing contract.
Possession: 
Delivery Of Deed
Listing Participants
Participants (agents, offices, etc.) in the transaction.
Listing Office Name: 
Keller Williams Chervenic Rlty

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