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For sale 12 days ago

$115,950

4 bd 3 ba 3433 sqft

802 Spencer St, Toledo, OH 43609

Residential Quadplex Occupied Off MLS

Current Rent **

$1,600

Projected Rent **

$2,992

Estimated Cap Rate *

Pro Only

Estimated Cash on Cash ROI *

Pro Only

Unit 1 Details
  • Current Rent: $500
  • Bedroom: 2 bd
  • Bathroom: 1 ba
  • Square Footage: 0 sqft
  • Occupied: Yes
  • Needs Repairs: No
  • Off MLS: Yes
Unit 2 Details
  • Current Rent: $500
  • Bedroom: 0 bd
  • Bathroom: 0 ba
  • Square Footage: 0 sqft
  • Occupied: Yes
  • Needs Repairs: No
  • Off MLS: Yes
Unit 3 Details
  • Current Rent: $300
  • Bedroom: 1 bd
  • Bathroom: 1 ba
  • Square Footage: 0 sqft
  • Occupied: No
  • Needs Repairs: No
  • Off MLS: Yes
Unit 4 Details
  • Current Rent: $300
  • Bedroom: 1 bd
  • Bathroom: 1 ba
  • Square Footage: 3433 sqft
  • Occupied: Yes
  • Needs Repairs: No
  • Off MLS: Yes

๐Ÿ’ฅ(๐—ง๐—ผ๐—น๐—ฒ๐—ฑ๐—ผ, ๐—ข๐—›) ๐Ÿ’ฅ ๐—ค๐˜‚๐—ฎ๐—ฑ๐—ฝ๐—น๐—ฒ๐˜… ๐Ÿ’ฅ ๐Ÿญ๐Ÿฌ๐Ÿฌ% ๐—ข๐—ฐ๐—ฐ๐˜‚๐—ฝ๐—ถ๐—ฒ๐—ฑ | ๐—ฆ๐—ฒ๐—ฝ๐—ฎ๐—ฟ๐—ฎ๐˜๐—ฒ ๐— ๐—ฒ๐˜๐—ฒ๐—ฟ๐—ฒ๐—ฑ ๐—ณ๐—ผ๐—ฟ ๐—š๐—ฎ๐˜€/๐—˜๐—น๐—ฒ๐—ฐ๐˜๐—ฟ๐—ถ๐—ฐ ๐Ÿ’ฅ

Opportunity is knocking!

Pick up this 4 Unit Property in Toledo, Ohio!

ARV: $157,673

Current Rent: $1,600/month (Below Market Rents)

Potential Rent: $2,992/month

DETAILS

Unit Mix:

Two 1BR/1 Bath Unit

Two 2BR/1 Bath Unit

Taxes: $2,400

Building Square Footage: 3,433 SqFt

Utilities:

Tenants pay for Gas & Electric

4 Electric Panels

Updated Wiring

Owners pays ~$215/month for Water/Sewer

2 Water Heaters

Lot Size: 5,480 SqFt

Year Built: 1923

Occupancy: 100% Occupied

Units: 4 units

Market Rents: $643-$853/Unit

Current Rents: $300-$500/Unit.

Management: Excellent local property management company ready to step in and manage this one for the next owner.

Pro Forma CAP: 22.03% (5% Vacancy, Taxes, Insurance, and 10% Prop Management included in Pro Forma Cap and Actuals)

Location:

802 Spencer St, Toledo, OH 43609

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* The cap rate and cash on cash return calculations found on BiggerPockets Listings are estimated and designed to be used for informational and educational purposes only, and when used alone, do not constitute investment advice. They assume 3 months worth of expenses and estimate taxes and insurance. BiggerPockets recommends that you seek the advice of a real estate professional before making any type of investment. The results presented may not reflect the actual return of your own investments. BiggerPockets is not responsible for the consequences of any decisions or actions taken in reliance upon or as a result of the information provided by these tools. Furthermore, BiggerPockets is not responsible for any human or mechanical errors or omissions.

** Current rent and projected rent are provided by the lister.

† Rental comps are pulled by looking at property characteristics (beds, baths, structure type), date the rent listing was captured, and proximity to the searched location.

‡ Confidence levels range from low to very high. Confidence is determined by the number of recent and relevant comparable properties for any given search. A very high confidence level indicates a high number of recent and similar rental listings.