1567 Karr StSpringfield, OH 45503

For Sale
$209,000

Turnkey triplex with strong cash flow.

Overview

Added:
Dec 11, 2024
Days on market:
92
This Springfield, Ohio triplex at 1567 Karr Street presents a compelling investment opportunity. Priced at $209,000, this 3-unit property boasts a 9.88% capitalization rate. Built in 1918, the property sits on an 11,761.2 square foot lot. Two of the units have undergone complete renovations, including the addition of in-unit washer/dryer hookups. Unit 1, a 1-bedroom unit, currently rents for $500, offering significant upside potential. Unit 2 and Unit 3 are both renovated 1-bedroom, 1-bathroom units, renting for $800 and $750 respectively. The property benefits from a relatively new roof (5-6 years old), recently installed gutters, and new water heaters. It's a furnace-free building, minimizing maintenance expenses. The owner's responsibility is limited to water and trash, resulting in very low overhead. This fully occupied property is ideal for both new investors and those seeking portfolio expansion. The property is located in Clark County, Ohio, zip code 45503. The price per square foot is $134.58.

Highlights

  • Springfield, Ohio triplex investment opportunity at $209,000.
  • 9.88% capitalization rate.
  • Three units on an 11,761.2 sq ft lot, built in 1918.
  • Two renovated 1-bedroom units rent for $800 and $750; one unrenovated 1-bedroom unit rents for $500.
  • Recent upgrades include a roof (5-6 years old), gutters, and water heaters; furnace-free.
  • Low owner responsibility (water & trash).

Property Details for 1567 Karr St

Property type
Multifamily properties, Apartment buildings
Year Built
1918
Units
3

Location Insight

City
Springfield
County
Clark
State
Ohio
Latitude
39.9408741
Longitude
-83.773003
1567 Karr St, Springfield, Ohio

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1567 Karr St
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