Great Buy and Hold Opportunity!
346 Leland Ave, Toledo, OH, 43609
DUPLEX PROPERTY Toledo, Ohio!
PRICE: $93,500
ARV: $140,000+ based on recent sales comps
Actual Rent: $1,320/month
Potential Rent: $2,690/month
Actual Cap Rate: 13.29%
Pro Forma Cap Rate: 28.23%
Actual NOI: $12,414/year
Pro Forma NOI: $26,397/year
-
Unit Mix:
-
346 Leland Ave: 2 Bed/1 Bath ($680/month)
-
348 Leland Ave: 2 Bed/1 Bath ($600/month)
-
-
Occupancy: 100% Occupied
-
Taxes: $450
-
Insurance: $450
-
Utilities: Tenants pay for all utilities except for water and sewer.
-
Building Square Footage: 2,224 Sq Ft
-
Lot Size: 3,092 Sq Ft
-
Year Built: 1897
-
Management: Currently self-managed, but excellent local property management company ready to step in and manage this one for the next owner.
-
Cap Rate (Pro Forma): 28.23% (5% Vacancy, Taxes, Insurance, and 10% Prop Management included in Pro Forma Cap and Actuals)
-
Due Diligence: While we do our best to get all the relevant information to you, buyers are encouraged to do their own due diligence. (See Important Disclosures Below)
-
Repairs Needed:
-
Recent Renovations:
-
New roof
-
Updated plumbing.
-
Fully renovated electrical system.
-
Repairs Needed:
-
Minor fire damage in the upstairs unit, including cleanup, wall repairs, and roof patching (estimated $20,000 by a local contractor)
-
Highlights:
-
Completely Renovated: New roof, plumbing, and electrical upgrades completed recently.
-
Professional Property Management: Ready to take over for a smooth transition.
-
Thriving Market: Ranked by Forbes as a top "Opportunity City," Toledo continues to attract new businesses and residents, making it a prime market for rental properties.
TEXTING IS THE FASTEST WAY TO GET A HOLD OF US!
If you have any questions about this property, please contact:
Primary Contact: Todd Keith (463) 240-1822
Important Disclosures Five Stream Ventures, LLC. is not an appraiser or a general contractor and does not claim to be one. Buyer is to do their own independent due diligence. All properties are sold as is, where is with no warranties or representations expressed or implied. Five Stream Ventures, LLC. is a real estate investment firm and does not claim to be licensed real estate agents or brokers.