132 E George Street, Marion, OH 43302 (MLS# 225002392)

132 E George Street, Marion, OH 43302

$2,850,000

Property Type: Multi-Family Lot Size (sq. ft.): 10,890 Status: Closed

Current Price: $2,850,000 List Date: 4/01/2025 Last Modified: 4/02/2025

Overview

Description

Incredible opportunity to own a 35 unit cash flowing portfolio in Marion, Ohio. Consists of a 15 unit complex complete with a laundry facility and a 3000sf garage/office, as well as 10 doubles in close proximity allowing for efficient property management. All units have been updated over time by owners and rents are at market rates making this a true turnkey opportunity with a current 9.5% cap rate! The owners self manage and would assist new owners with transfer of their online management system through Tenant Cloud.

Listing Details MLS# 225002392

Location Property Info

Original List Price: 2850000
Property Sub Type: Mixed Use
Street #: 132
Street PreDirection: E
Street Name: George
Street Suffix: Street
County: Marion
State: OH
Zip Code: 43302
School District: MARION CSD 5102 MAR CO.
Township: Marion

OfficeContract Info

MLS Entry Date: 2025-01-27

General Property Info

Number of Units: 35
# of Buildings: 17
Year Built: 1920
Built Prior to 1978: Yes
Acreage: 0.25

Tax Info

Parcel #: 12103000-2800
Mult Parcels/Sch Dis: Yes
Addl Parcel Numbers: 12103000-2900,12419000-3200, 12205010-1500, 12206000-1100, 12313000-2100, 12314000-4700, 12206000-1300, 12204000-0600, 12212000-1000, 12205010-0500, 12206010-2700
Tax Abatement: No
Tax Incentive: No

Status Change Info

Under Contract Date: 2025-01-27
Sold Date: 2025-03-31

1 Bedroom

1 Bedroom # of Units: 6
1 Bedroom Month Rent Per Unit: 650

More Information

2 Bedroom

2 Bedroom # of Units: 25
2 Bedroom Month Rent Per Unit: 850

3 Bedroom

3 Bedroom # of Units: 4
3 Bedroom Month Rent Per Unit: 1100

Other

Other # of Units: 2
Other Month Rent Per Unit: 1000

Expenses

R.E. Taxes: 13108
Property Insurance: 18928
Repairs&Maintenance: 13240
Misc Expense: 15000
Water Expense: 10610.8

Auction Info

Auction/Online Bidding Y/N: No

Property Features

Addl Acceptance Cond: None Known Parking Features: 3 Car Garage; On Street; Common Owner Pays: Sewer Tenant Pays: Electricity; Gas; Trash Collection; Water Heat Fuel: Gas Heating: Forced Air Air Conditioning: Central Air; Other Construction: Brick; Vinyl Siding Sewer: Public Sewer Services Available: Electricity Available; Natural Gas Available; Sewer Available; Storm Sewer; Water Available Miscellaneous: Basement; Security System MLS Primary PhotoSrc: Realtor Provided

Listing Office: Keller Williams Consultants

Listing Agent: Christopher M Shea

Last Updated: April - 02 - 2025

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