60 66 e 7th avenue olumbus oh asking prie $3,000,000...prin & int payment: $9,219.97 escrow pmt...
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NorthSteppe Realty, Inc 10 E 17th Avenue Columbus, Ohio 43201
Michael Linsker
216-513-2335 Mobile 614-299-4110 ext. 303 Office [email protected]
60-66 E 7th Avenue
Columbus OH
ASKING PRICE
$3,000,000
15 Units
(3-Two BR, 12-Three BR)
14,772 SF TOTAL
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15 unit asset with a taste of the OSU South Campus Area
and the Short North area of Columbus. Every unit has
undergone a stunning renovation. Urban location with
excellent Tenants. Adjacent to retail, an affluent
neighborhood, and close proximity to I-71. Ample parking
and good visibility. Other great features: Low maintenance,
impressive finishes & professionally managed. Provides a
great return and is easy to manage.
PROPERTY HIGHLIGHTS
• All units are renovated
• Laundry in each unit
• 15 Parking Spaces
PROPERTY SUMMARY
• Asking Price: $3,000,000
• Year Built: 1971
• Lot Size: .32 Acres
• Total SF: $8,820SF
LOCATION HIGHLIGHTS
• Short North / OSU Campus area
• High demand neighborhood
• Close proximity to I-71
• Walkable to parks and restaurants
OVERVIEW
NorthSteppe Realty 10 E 17th Avenue Columbus, Ohio 43201
Michael Linsker
216-513-2335 Mobile 614-299-4110 ext 303 Office [email protected]
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PROPERTY PHOTOS
NorthSteppe Realty, Inc 1066 North High Street Columbus, Ohio 43201
Michael Linsker, BROKER
President, MLR LLC 216-513-2335 Mobile 614-299-4110 ex. 1 Office [email protected]
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FINANCIAL SUMMARY
PROFORMA
2018 Proforma –
Market Rent
Monthly Income $17,468 $26,000
Income $209,610 $312,000
Less Vacancy (4%) 0 $12,480
Effective Rental Income $209,610 $299,520
Misc Other Income $10,000
Effective Gross Income $209,610 $309,520
EXPENSES
Real Estate Taxes (actual 2018) $10,058 $10,058
Insurance $2,737 $3,000
Utilities - $8,653 $10,000
Repairs and Maint $17,031 $19,000
Office and Administration $ 1411 $1,500
Management Fee $8,464 $11,981
Total Expenses $48,354 $55,539
NET INCOME $161,256 $253,981
Capitalization Rate 5.4% 8.5%
NorthSteppe Realty 10 E 17th Avenue Columbus, Ohio 43201
Michael Linsker
216-513-2335 Mobile 614-299-4110 ext 303 Office [email protected]
*Buyer is responsible to pay 1% loan assumption fee or prepay-
ment penalty if current loan is paid off. See Page 5.
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SELLERS ASSUMABLE FINANCING
*Buyer responsible for 1% loan assumption fee or sellers loan
prepayment penalty fee, whichever applies
Date of Origination: 10/6/2017
Original Loan Amount: $1,790,000
Annual Interest Rate 4.64%
Term: 120 months
Amortization: 30 years
Maturity: 11/1/2027
Approximate Loan Bal: $1,758,415 As of YE 2018
Prin & Int Payment: $9,219.97
Escrow Pmt (Taxes): $1589.90
LOAN ASSUMPTION
NorthSteppe Realty 1066 North High Street Columbus, Ohio 43215
Michael Linsker
216-513-2335 Mobile 614-299-4110 ext 303 Office [email protected]
The information herein has been obtained from sources believed reliable. While we do not doubt its accuracy, we have not verified it and make no guarantee, warranty or
representation about it. It is your responsibility to independently confirm its accuracy and completeness, Any projections, opinions, assumptions or estimates used are for the
example only and do not represent the current or future performance of the property. The value of this transaction to you depends on tax and other factors, which should be
evaluated by your tax, financial and legal advisors. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction
the suitability of the property for your needs. Offering is subject to errors, prior sales, lease change, withdrawal without notice, and approval of the purchase/tenant by own-
er. It is hereby disclosed that the broker or his agents are representing the Seller unless otherwise state