Cash Cow
1364 N Cove Blvd, Toledo, OH
14.69% return
SP:
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Property Description

Turnkey apartment complex!

Total of 6 large units. 5 x 2bed/1bath and 1 x 1bed/1bath units. Property is in great condition, inside and out. Newer roof. Located minutes away from major employes in the city. 600k+ in the MSA. 14%+ net return on investment. 

Financing and property management is available!!

Property Information

  • Listing statusActive
  • Property typeMulti Family
  • Total units6
  • Total bedrooms11
  • Total bathrooms6
  • Building size8379 sq. ft.
  • Lot size0.2 acres
  • Year built1951
  • CountyLucas County
  • Subdivision
  • ConstructionBrick
  • RoofShingle
  • Water sourceCity water
  • Water disposalSewer
  • HeatingGas Furnace
  • CoolingWindow A/C

Property Financial Summary

  • Sale price $265,000
  • Estimated rehab 1 $5,000
  • Total investment $270,000
  • Type Proforma
  • Gross income (annually) $49,200
  • Operating expenses (annually) $9,530
  • Net income (annually) $39,670
  • Gross return 18.22%
  • Gross income (monthly) $4,100
  • Operating expenses (monthly) $794
  • Net income (monthly) $3,306
  • Net return 14.69%

Property Income & Expenses

  • Income
  • Unit 1: 1 bed / 1 bath $600/month $7,200/year
  • Unit 2: 2 bed / 1 bath $700/month $8,400/year
  • Unit 3: 2 bed / 1 bath $700/month $8,400/year
  • Unit 4: 2 bed / 1 bath $700/month $8,400/year
  • Unit 5: 2 bed / 1 bath $700/month $8,400/year
  • Unit 6: 2 bed / 1 bath $700/month $8,400/year
  • Total $4,100/month $49,200/year
  • Expenses
  • Property Taxes $306/month $3,670/year
  • Insurance $208/month $2,500/year
  • Maintenance reserve $250/month $3,000/year
  • Lawn care $30/month $360/year
  • Total $794/month $9,530/year

Property Questions & Answers

Q: How do I make an offer on this property?
A: Placing an offer is a simple process. All offers must be presented in writing with an escrow deposit of 10% or $5,000, whichever is larger. Escrow has to be sent to the attorney or title company who is handling the file for this property. Please send us an inquiry and one of our team members will get in touch with you to further assist you. You can also give us a call.

Q: Does this property come with clear title?
A: All our properties come with clear title. We highly recommend you purchase title insurance as well.

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