540 W College St
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540 W College St
11 Unit Apartment Building $1,150,000 ($104,545/Unit) 7.60% Cap Rate Oberlin, OH 44074
Executive Summary
This well-maintained, fully updated property is delivering strong, consistent cash flow, while continuing to attract high-quality tenants. Whether you're a seasoned investor or a new buyer looking to expand your portfolio, this 11-unit complex in Oberlin is a very rare find.
Unit Mix: A blend of one studio, two one-bedroom, and eight two-bedroom apartments. Ten of the eleven units have recently updated interiors designed to attract high-quality tenants.
Recent Upgrades: New double pane windows (11 of 11), water heaters (2 of 2), keypad door locks; kitchens (9 of 11), bathrooms (7 of 11), and laundry machines.
Amenities: The property offers revenue-producing onsite laundry and coin machine, secured building entry with well-appointed common space, and numbered parking for each unit.
Prime Location: Located in the charming town of Oberlin, known for its historic college and arts scene. This property is 0.7 miles from Oberlin College and within 10 minutes of multiple major highways.
Occupancy & Financials: avg. 90% occupancy over 2.5 year (97% over the last calendar year) with stable, long-term tenants. 5.25% assumable loan available. Full financials are available upon request, illustrating consistent rental income and potential for growth.
Contact us today for more information 216 250-2048
Unit Mix: A blend of one studio, two one-bedroom, and eight two-bedroom apartments. Ten of the eleven units have recently updated interiors designed to attract high-quality tenants.
Recent Upgrades: New double pane windows (11 of 11), water heaters (2 of 2), keypad door locks; kitchens (9 of 11), bathrooms (7 of 11), and laundry machines.
Amenities: The property offers revenue-producing onsite laundry and coin machine, secured building entry with well-appointed common space, and numbered parking for each unit.
Prime Location: Located in the charming town of Oberlin, known for its historic college and arts scene. This property is 0.7 miles from Oberlin College and within 10 minutes of multiple major highways.
Occupancy & Financials: avg. 90% occupancy over 2.5 year (97% over the last calendar year) with stable, long-term tenants. 5.25% assumable loan available. Full financials are available upon request, illustrating consistent rental income and potential for growth.
Contact us today for more information 216 250-2048
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- Operating and Financials
Property Facts
| Price | $1,150,000 | Building Class | C |
| Price Per Unit | $104,545 | Lot Size | 0.37 AC |
| Sale Type | Investment | Building Size | 4,302 SF |
| Cap Rate | 7.60% | Average Occupancy | 91% |
| No. Units | 11 | No. Stories | 2 |
| Property Type | Multifamily | Year Built/Renovated | 1965/2022 |
| Property Subtype | Apartment | Parking Ratio | 2.56/1,000 SF |
| Apartment Style | Low Rise |
| Price | $1,150,000 |
| Price Per Unit | $104,545 |
| Sale Type | Investment |
| Cap Rate | 7.60% |
| No. Units | 11 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 0.37 AC |
| Building Size | 4,302 SF |
| Average Occupancy | 91% |
| No. Stories | 2 |
| Year Built/Renovated | 1965/2022 |
| Parking Ratio | 2.56/1,000 SF |
Unit Amenities
- Air Conditioning
Site Amenities
- Laundry Service
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 1 | - | - |
| 1+1 | 2 | - | - |
| 2+1 | 8 | - | - |
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PROPERTY TAXES
| Parcel Number | 09-00-084-101-075 | Improvements Assessment | $114,468 |
| Land Assessment | $15,796 | Total Assessment | $130,263 |
PROPERTY TAXES
Parcel Number
09-00-084-101-075
Land Assessment
$15,796
Improvements Assessment
$114,468
Total Assessment
$130,263
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Tomte Property Holdings
540 W College St
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