2128 Tanglewood Avenue, Alliance, OH 44601
- $1,385,000
- Sold Price
- $1,385,000
- List Price
- $1,600,000
- Status
- CLOSED
- Days on Market
- 68
- Closing Date
- Aug 12, 2025
- MLS#
- 5127417
- Subtype
- Commercial Sale
- Year Built
- 1983
- Acres
- 0.43
- Subdivision
- Alliance
- Neighborhood
- Alliance
- MLS Area Major
- Alliance
Property Description
These are all 2-bedroom, 1 bath units in this brick 1983 recently remodeled building. There are currently 2 vacant units that are now ready to be leased. Current NOI on the 14 occupied units is $105,324.00. Filling the 2 vacant units takes NOI to $131,892.00. Average rents are currently $814/mo. Great opportunity to raise rents. Apartment is 6 minutes from Mount Union College. Turnkey units, recommendation would be to start by raising rents to $925 per door which is a small increase but would raise your cap rate to 8.5% with long term opportunity to drive much higher cash flows. Proximity to campus provides easy access to rental base.
Additional Information
- Taxes
- $7,256
- Heating
- Baseboard
- Roof
- Asphalt
- School District
- Marlington LSD - 7608
Listing Courtesy of: Brad A Miklovich, Bradmiklovich@kw.com With Keller Williams Chervenic Rlty
Selling Office: Tanner Real Estate Co..Mortgage Calculator
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