Opportunities like this come along very-very rarely. So don't miss out on this one! Situated in north-central Ohio is this 23-property rental portfolio that is being offered at the very reasonable $1,500,000. The properties have been extensively renovated to the tune of more than $500,000 in the past five years. Among the upgrades have been three-dimensional roofs, cabinets, electrical, plumbing, furnace, large-oversized porches, windows and siding. Current owner has pride in his portfolio and it shows throughout each unit. He's only looking to move this portfolio because he has an opportunity to fulfill a life-long dream. Speaking of dreams, can you imagine getting a check in your mailbox for more than $217,000 each year? And the current owner is doing a lot to make sure you can maximize your income each year. Of the 23-units, 76% of the units are on government assistance (METRO in Marion County Ohio) with the majority of the rent being sent directly to the owner every single month. The housing requires the renter to maintain certain levels of commitment which can allow them to be kicked out of the program for destroying homes. And contrary to popular opinion the owner has the ability to review tenants and choose. Hence, the new owner is getting a recently updated and maintained properties in addition to walking into direct-payment by the governmental agency. Even with all these benefits the properties still yield a better than 12% CAP rate and 61.1 cash-on-cash ratio. How often can you get a portfolio this solid? Contact us today!
This property is off market, which means it's not currently listed for sale or rent on Zillow. This may be different from what's available on other websites or public sources.
