624 Bush St
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624 Bush St
4 Unit Apartment Building $149,900 ($37,475/Unit) 25% Cap Rate Toledo, OH 43604
Executive Summary
This spacious and updated four-unit building is an incredible investment opportunity just blocks from downtown! Built in 1887 with 4,772 sq. ft., the property features four large one-bedroom units, with two upstairs and two downstairs. Recent upgrades include a new flat roof, sump pump, updated electrical boxes, all-new water lines, and newer furnaces.
The bottom two units have been fully renovated with new LVP flooring, modern kitchen and bathroom updates, and fresh paint throughout. The exterior has also been freshly painted, enhancing the property’s curb appeal. Each unit offers tall ceilings, a formal dining room, a large living area, and spacious kitchens. Utilities are separate, with individual gas and electric meters for each unit.
With two units currently vacant, this property is perfect for owner-occupants or investors looking for rental income potential. Plus, enjoy the benefit of remarkably low annual taxes, under $500 for the entire building.
Don’t miss your chance to own a gem in a prime location near downtown amenities!
The bottom two units have been fully renovated with new LVP flooring, modern kitchen and bathroom updates, and fresh paint throughout. The exterior has also been freshly painted, enhancing the property’s curb appeal. Each unit offers tall ceilings, a formal dining room, a large living area, and spacious kitchens. Utilities are separate, with individual gas and electric meters for each unit.
With two units currently vacant, this property is perfect for owner-occupants or investors looking for rental income potential. Plus, enjoy the benefit of remarkably low annual taxes, under $500 for the entire building.
Don’t miss your chance to own a gem in a prime location near downtown amenities!
Financial Summary (Pro forma - 2024) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Pro forma - 2024) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | $149,900 | Property Subtype | Apartment |
| Price Per Unit | $37,475 | Apartment Style | Low Rise |
| Sale Type | Investment | Building Class | C |
| Cap Rate | 25% | Lot Size | 0.11 AC |
| Gross Rent Multiplier | 3.9 | Building Size | 4,772 SF |
| No. Units | 4 | No. Stories | 2 |
| Property Type | Multifamily | Year Built/Renovated | 1887/2024 |
| Price | $149,900 |
| Price Per Unit | $37,475 |
| Sale Type | Investment |
| Cap Rate | 25% |
| Gross Rent Multiplier | 3.9 |
| No. Units | 4 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 0.11 AC |
| Building Size | 4,772 SF |
| No. Stories | 2 |
| Year Built/Renovated | 1887/2024 |
Unit Amenities
- Washer/Dryer Hookup
- Ceiling Fans
- Basement
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 4 | - | 1,193 |
1 of 1
Bike Score ®
Very Bikeable (78)
PROPERTY TAXES
| Parcel Number | 14-28054 | Improvements Assessment | $2,205 (2023) |
| Land Assessment | $1,470 (2023) | Total Assessment | $3,675 (2023) |
PROPERTY TAXES
Parcel Number
14-28054
Land Assessment
$1,470 (2023)
Improvements Assessment
$2,205 (2023)
Total Assessment
$3,675 (2023)
zoning
| Zoning Code | 10-RD6 (Zoning Code 10-RD6) |
| 10-RD6 (Zoning Code 10-RD6) |
-
Justin Spann -
Key Realty
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624 Bush St
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