Address
205 Park Avenue Youngstown, OH
Price
$ 2,150,000
Property Attributes
  • MLS#4208346
  • TypePending
  • CountyMAHONING
  • CityYoungstown
  • AreaYoungstown North
  • NeighborhoodPark Ave
  • Zip44504
  • StyleApartment
  • Year Built1902
  • Taxes9368
  • Price$ 2,150,000
  • Bedrooms0
  • Full Bathrooms0
  • Half Bathrooms0
  • Lot Size0.74 Acres
Listing Provided Courtesy Of:
Holly A Taylor Meyer with Keller Williams Chervenic Rlty
Property Description

WELL MAINTAINED, UPDATED, TURNKEY APARTMENT BUILDINGS. LOCATED ON ENTIRE SECTION OF BLOCK BETWEEN ELM ST. AND OHIO AVE by YOUNGSTOWN STATE UNIVERSITY. Nine 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. Cap rate for 2021 estimated to be approximately 9.5% or higher. 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 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.

Price History
7/24/2020 Listed $2,150,000

General Features

Cooling Central Air
Heating Baseboard, Forced Air
Location Freestanding, Historic Area, Park, Public Transport, Urban
MLS Area Youngstown North
Parking Features Driveway, Outside, Public, On Street
Property SubType Apartment
Property Type Commercial Sale
Roof Asphalt, Fiberglass
Sewer Public Sewer
Subdivision Name Park Ave
Township Youngstown City

Interior Features

Air Conditioning Y/N Yes
Basement Common Basement
Heating Y/N Yes

Exterior Features

Lot Size Acres 0.74
Lot Size Area 0.74
Lot Size Units Acres
Water Source Public

Amenities

  • Foreclosure
  • Views
  • Short Sale
  • New Construction
  • Adult 55+
  • Lease To Own
  • No HOA Fees
  • Furnished
  • Master On Main
  • Air Conditioning
  • Seller Finance
  • Green
  • Fixer Upper
  • Horse
  • Golf
  • Fireplace
  • Deck
  • Garage
  • Basement
  • Pool

Property vs Zip Code Average in 44504

Price
AVG $270K
$2.15M
Taxes
AVG $1,939
$9,368
Visits
AVG 49
50
Year Built
AVG 1929
1902
Walkscore
AVG 35
55
Data Provided by Walkscore ® not using MLS data

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