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Listing Details

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Description

Three parcels addressed as 1510, 1521, and 1532 Pennelwood Dr with one four-unit building on each parcel - to be sold together. Great opportunity to acquire a well maintained value-add multifamily asset located in Toledo, OH. 100% occupied 12-unit complex strategically located minutes South of Downtown Toledo with strong economic drivers surrounding. Current Ownership has strong long term occupancy while maintaining rents well below the market-rate leaving ample upside opportunity. Toledo has seen influx of new businesses and development throughout COVID and Pennelwood Drive is strategically located near major institutions such as The Toledo University Medical Center, The Advanced Specialty Hospital of Toledo, the Toledo Zoo and two major shopping plazas with a diverse retail tenant base.

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© 2021 Columbus Board of Realtors. All rights reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but is not guaranteed accurate by the MLS or The Tobias Real Estate Group | REMAX Town Center. Data last updated: 2021-09-18T23:51:30.187.
www.ohiohomelistings.com/homes/119971467
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1510 Pennelwood Drive Toledo, OH 43614

  • Price: $630,000
  • Status: Active
  • Updated: 138 min ago
  • MLS #: 221029616
0
Beds
0
Baths
0
½ Baths
0.34
Acres
5,808
SQFT
$108
$/SQFT
1955
Built
County:
Lucas
Area:
Toledo
School District:
Toledo Csd 4807 Luc Co.
Property Description
Three parcels addressed as 1510, 1521, and 1532 Pennelwood Dr with one four-unit building on each parcel - to be sold together. Great opportunity to acquire a well maintained value-add multifamily asset located in Toledo, OH. 100% occupied 12-unit complex strategically located minutes South of Downtown Toledo with strong economic drivers surrounding. Current Ownership has strong long term occupancy while maintaining rents well below the market-rate leaving ample upside opportunity. Toledo has seen influx of new businesses and development throughout COVID and Pennelwood Drive is strategically located near major institutions such as The Toledo University Medical Center, The Advanced Specialty Hospital of Toledo, the Toledo Zoo and two major shopping plazas with a diverse retail tenant base.
Exterior Features

Construction Brick Parking Type 2 Off StreetShared Driveway

Interior Features

Air Conditioning Other Heat Fuel Gas Heating Forced Air

Property Features

1 Bedroom Monthly Rent Per Unit 452.00 1 Bedroom Units 12 Auction No Between Street1 Glendale Avenue Between Street2 Pennelwood Drive Buildings 3.00 Built Prior To1978 Yes Corp Limit Per Auditor Toledo Expenses Advert Lic Permits 255.00 Expenses Electricity 722.00 Expenses Gas 722.00 Expenses Property Insurance 2743.00 Expenses Property Management 4514.00 Expenses Real Estate Taxes 4604.00 Expenses Repairs And Maintenance 13063.00 Expenses Water 3922.00 Financials Effective Income 60727.00 Financials For Year Of 2020 Financials Gross Rental Income 63923.00 Financials Vacancy And Credit Loss 3196.00 For Exchange No For Sale Yes Mult Parcels Sch Dis Yes Multifamily Sub Type Flat Occupancy Rate 100 Owner Pays SewerTrashWater Services Available ElectricGasSanitary SewerStorm SewerWater Sewer Public Sewer Tax District 06 Tax Year 2019 Taxes Yearly 4604.00 Tenant Pays ElectricityGas Township Washington Use Code 401 - APARTMENT:4-19 UNITS Zoning Commercial

Listing provided courtesy of Alec Hartman of The Charles R. Porter Co.


© 2021 Columbus Board of Realtors. All rights reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but is not guaranteed accurate by the MLS or The Tobias Real Estate Group | REMAX Town Center. Data last updated: 2021-09-18T23:51:30.187.
 
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The Tobias Real Estate Group | REMAX Town Center
3379 Mcdowell Road
Grove City OH, 43123