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7327 N Ridge Rd
Madison, OH 44057

Holly Ridge Apartments · Multifamily Property For Sale · 48 Units

PROPERTY FACTS

No. Units 48
Property Type Multifamily
Property Subtype Apartment
Apartment Style Garden
Building Class C
Lot Size 12.00 AC
Building Size 35,450 SF
Average Occupancy 100%
No. Stories 1
Year Built 1963
Parking Ratio 2.54/1,000 SF

Unit Amenities

  • Air Conditioning
  • Heating
  • Kitchen
  • Refrigerator
  • Oven
  • Range
  • Tub/Shower
  • Carpet

Site Amenities

  • Laundry Facilities
  • Playground

About 7327 N Ridge Rd , Madison, OH 44057

This is a great investment, income producing property. Owner acquired the property approximately 9 years ago and has implemented a strong property management approach and focusing on necessary capital improvements exceeding $120.000 all of which resulted in a NOI improvement of 54.4 % (2007 to 2017 reporting periods). Presently, there are no vacant units with an ongoing waiting list for several prospective tenants. The property includes five buildings including a work shop sitting on 12 acres. There are 27 one-bedroom, 650 square foot, one bath units; 20 two-bedroom, 850 square foot, one bath units; and 1 single family, two-bedroom, one bath home. Apartment buildings are brick facade and vinyl sided on two of the five. Complete roof replacement with today’s current metal roofing systems was completed on all three buildings containing the 1-bedroom apartments. The one-bedroom apartments are heated by a newer boiler. Tenant rate includes heating, electrical, water and sewer. Two-bedroom tenants pay for gas, electric and water in apartments which are heated by individual gas furnaces and with individual hot water tanks.

PROPERTY TAXES

PROPERTY TAXES

Parcel Number
01-A-078-0-00-013
Land Assessment
$50,900
Improvements Assessment
$367,140
Total Assessment
$418,040

zoning

Zoning Code B2
B2
  • Listing ID: 14050624

  • Date on Market: 10/12/2018

  • Last Updated:

  • Address: 7327 N Ridge Rd, Madison, OH 44057

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