540 W College St - Apartments FOR SALE


Oberlin, OH 44074
$1,000,000 USD
216-250-2048
540 W College St, Oberlin, OH for Sale
$1,000,000 USD
Apartments - FOR SALE
1/3
null | 8.74% Cap Rate

540 W College St
Oberlin, OH 44074


OVERVIEW

This well-maintained, fully updated property is delivering strong, consistent cash flow, while continuing to attract high-quality tenants. Whether you're a seasoned investor or a new buyer looking to expand your portfolio, this 11-unit complex in Oberlin is a very rare find. Unit Mix: A blend of one studio, two one-bedroom, and eight two-bedroom apartments. Ten of the eleven units have recently updated interiors designed to attract high-quality tenants. Recent Upgrades: New double pane windows (11 of 11), water heaters (2 of 2), keypad door locks; kitchens (9 of 11), bathrooms (7 of 11), and laundry machines. Amenities: The property offers revenue-producing onsite laundry and coin machine, secured building entry with well-appointed common space, and numbered parking for each unit. Prime Location: Located in the charming town of Oberlin, known for its historic college and arts scene. This property is 0.7 miles from Oberlin College and within 10 minutes of multiple major highways. Occupancy & Financials: avg. 90% occupancy over 2.5 year (97% over the last calendar year) with stable, long-term tenants. 5.25% assumable loan available. Full financials are available upon request, illustrating consistent rental income and potential for growth. Contact us today for more information 216 250-2048

FOR SALE DETAILS

PRICE

$1,000,000 USD

PRICE/SF

$232 USD /SF

# OF UNITS

11

PRICE/UNIT

$90,909

CAP RATE

8.74%

% LEASED

91%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1965

PARKING SPACES

11

LAND DETAILS

LAND ACRES

0.37 AC

LAND SF

16,117 SF

ZONING

-

APN/PARCEL ID

09-00-084-101-075

ASK ABOUT THIS PROPERTY

Andrew PearceTomte Property HoldingsMore Info
216-250-2048

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Andrew PearceTomte Property HoldingsMore Info
216-250-2048

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.