Toledo Portfolio

1351 Felt St, Toledo, OH

14.65% return

SP: $1,200,000

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Property Description

LARGE PORTFOLIO IN TOLEDO, OHIO!

30 total units. 28 residential + 2 commercial spaces. LOW EXPENSES! Turn-key properties!! 99% occupied!! Potential to generate over $20,900/month and a 14.65%+ NET RETURN! Good paying tenants. GM just recently invested $760 million into it's Toledo Plant! The city is currently ranked No. 1 for New Business Investment and home over 200k people!! Parcels can be sold separately or as a package. Perfect for an out of state investor!

Property management and financing available.

Property Information

Listing statusSold
Property typeMulti Family (5 properties)
Total units30
Total bedrooms38
Total bathrooms30
Building size26437 sq. ft.
Lot size0.6 acres
Year built1889 - 1962

CountyLucas County
Subdivision
ConstructionFrame, Brick/Frame, Brick
RoofAsphalt Shingle
Water sourceCity water
Water disposalSewer
HeatingWindow Unit, Central
CoolingWindow A/C, Central air

Property Financial Summary

Sale price$1,200,000
Estimated rehab¹$75,000
Total investment$1,275,000

TypeProforma
After repair value$1,600,000
Potential profit$325,000

Gross income (annually)$250,800
Operating expenses (annually)$63,987
Net income (annually)$186,813
Gross return19.67%

Gross income (monthly)$20,900
Operating expenses (monthly)$5,332
Net income (monthly)$15,568
Net return14.65%

Property Income & ExpensesMonthlyAnnual

Income

1351 Felt St, Main
Unit 1: 1 bed / 1 bath$700/month$8,400/year
Unit 2: 1 bed / 1 bath$700/month$8,400/year
Unit 3: 1 bed / 1 bath$700/month$8,400/year
Unit 4: 1 bed / 1 bath$700/month$8,400/year
Unit 5: 1 bed / 1 bath$700/month$8,400/year
Unit 6: 1 bed / 1 bath$700/month$8,400/year
Unit 7: 1 bed / 1 bath$700/month$8,400/year
Unit 8: 1 bed / 1 bath$700/month$8,400/year
1941 Nevada St, Main
Unit 1: 2 bed / 1 bath$750/month$9,000/year
Unit 2: 2 bed / 1 bath$750/month$9,000/year
Unit 3: 2 bed / 1 bath$750/month$9,000/year
Unit 4: 2 bed / 1 bath$750/month$9,000/year
3503 Upton Ave, Main
Unit 1: 1 bed / 1 bath$525/month$6,300/year
Unit 2: 1 bed / 1 bath$525/month$6,300/year
Unit 3: 1 bed / 1 bath$525/month$6,300/year
Unit 4: studio / 1 bath$475/month$5,700/year
Unit Barber Shop: studio / 1 bath$750/month$9,000/year
Unit Commercial Space: studio / 1 bath$750/month$9,000/year
56 Jervis St, Main
Unit 56: 2 bed / 1 bath$750/month$9,000/year
Unit 58: 2 bed / 1 bath$750/month$9,000/year
Unit 56 1/2: 3 bed / 1 bath$800/month$9,600/year
Unit 58 1/2: 2 bed / 1 bath$750/month$9,000/year
771 Howland Ave, Main
Unit 1: 2 bed / 1 bath$750/month$9,000/year
Unit 2: 2 bed / 1 bath$750/month$9,000/year
Unit 3: 1 bed / 1 bath$700/month$8,400/year
Unit 4: 1 bed / 1 bath$700/month$8,400/year
Unit 5: 1 bed / 1 bath$700/month$8,400/year
Unit 6: 1 bed / 1 bath$700/month$8,400/year
Unit 7: 1 bed / 1 bath$700/month$8,400/year
Unit 8: 1 bed / 1 bath$700/month$8,400/year
Total$20,900/month$250,800/year

Expenses

Property Taxes$1,293/month$15,519/year
Electric bill$229/month$2,748/year
Water, Sewer and Waste$817/month$9,800/year
Maintenance reserve$771/month$9,250/year
Insurance (estimated)$488/month$5,850/year
Property Management$1,660/month$19,920/year
Insurance$75/month$900/year
Total$5,332/month$63,987/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.