620-672 Hagenbuch Street,Urbana, OH 43078
Urbana, OH 43078
Description
This income-producing multi-family investment property offers 12 rental units across five separate buildings on a combined 1.19 acres and is being sold with three parcels. Whether you're purchasing your first multi-unit property or expanding an existing investment portfolio, this property allows an additional upside through future rental increases. The property includes four duplex buildings located at 652-656 Hagenbuch Street, 660-664 Hagenbuch Street, 668-672 Hagenbuch Street, and 807-809 Concord Street. Each duplex contains two 2 bedrooms, 1 bath apartments. The fifth building, located at 620-644 Hagenbuch Street, is a four-unit building featuring two 2 bedrooms, 1 bath apartments and two 1 bedroom, 1 bath apartments. Combined, the five buildings offer approximately 7,232 square feet of living space and generates a rental income of $8,675 per month. Some units have been remodeled, while others present opportunities for value-added improvements. Current rents range from $425 to $900 per month, offering potential for increased income as leases renew. The property also benefits from a stable tenant base, with several long-term residents who have occupied their units for 11, 15, and more than 20 years. The sale includes 12 refrigerators and 12 ranges, allowing for a smooth transition to new ownership. The owner currently pays for water, sewer and trash service, with water/sewer expenses averaging approximately $360 per month, while tenants are responsible for all other utilities. Current annual property insurance is approximately $6,100. With a diverse unit mix, established occupancy, and opportunity to increase rental income, this well-located multi-family property presents an excellent investment opportunity for both new and experienced investors.
Details
| MLS # | 1047199 |
|---|---|
| Listing Type | For Sale |
| Sub-Type | Resale |
| Status | Active |
| Year | 1955 |
| Days On Site | 30 |
| Listing Provided By | RE/MAX Alliance Realty | V. Patrick Hamilton |
Features
| Bed(s) | 14 |
|---|---|
| Bath(s) | 12 Total |
| SQ Feet | 7,232 |
| Basement | Y |
| Story(s) | 1 |
| Units | 12 |
| Acreage | 1.19 |
Interior
| Heating | Natural Gas |
|---|---|
| Heating Yes / No | Yes |
| Appliances | Range, Refrigerator |
Exterior
| Lot Features | Residential Lot |
|---|---|
| Construction Materials | Cedar, Vinyl Siding |
Parking
| Attached Garage Yes / No | No |
|---|---|
| Parking Features | No Garage |
Utilities
| Utilities | Natural Gas Connected |
|---|---|
| Sewer | Public Sewer |
Area Information
| State | OH |
|---|---|
| County | Champaign |
| City | Urbana |
| Zip Code | 43078 |
| Area | N OF US 36 AND W OF US 68 |
| Subarea | N OF US 36 AND W OF US 68 |
| School District | Urbana CSD |
| High School | Urbana CSD |
| Listing VS Median (in 43078) | |
Price: $809,900 low | high Med: $274,500 sqft: 7,232 low | high Med: 1,283 $ / sqft: $112 low | high Med: $214 On site: 30 low | high Med: 44 | |
Market Activity 43078
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Learn More About This Property
| State | OH |
|---|---|
| County | Champaign |
| City | Urbana |
| Zip Code | 43078 |
| Area | N OF US 36 AND W OF US 68 |
| Subarea | N OF US 36 AND W OF US 68 |
| School District | Urbana CSD |
| High School | Urbana CSD |
| Listing VS Median (in 43078) | |
Price: $809,900 low | high Med: $274,500 sqft: 7,232 low | high Med: 1,283 $ / sqft: $112 low | high Med: $214 On site: 30 low | high Med: 44 | |