365 E Midlothian Boulevard, Boardman, OH 44507
Local realty services provided by:Better Homes and Gardens Real Estate Central
Listed by:stacey m grant
Office:keller williams chervenic realty
MLS#:5133689
Source:OH_NORMLS
Price summary
- Price:$550,000
- Price per sq. ft.:$65.63
About this home
Welcome to 365 E Midlothian Blvd, Boardman Ohio. This property is a three-story apartment building featuring 11 units. Currently operating at 60% occupancy. There is plenty room for growth and INCOME! Property Highlights: Year Built: 1954 Stories: 3 Parking: 4 Car Carport plus additional parking "up to 8 more spaces" Boardman School District Located on a Bus route in walking distance of McDonald's, BP, and the neighboring Dollar Store. Total Units: 11 Each unit has the option for separate Electric and Gas. Each unit has its own Heating source. Unit Sizes: 1–3 Bedrooms Currently the property manager is renting the property by the bedroom. $600 per shared unit room and $750 per unit for 1 Bedroom apartments. All tenants have month to month leases. The property manager has created a rent/roll P&L document that can be emailed to all interested parties. Laundry room Secure Entry Currently the Property manager has included the cost of Electric and Gas into the tenants rent. With this expense and at 60% occupancy based on the per bedroom strategy used, the property still has a cap rate of 5% contingent on insurance and finance cost. Potential value adds for new owner: Occupancy, Coin Laundry, Transferring the cost of Gas and Electric to tenants, optional reserved parking spaces, optional upgrades of units for additional rental value. Contact me today for the Property Manager's Rent Roll/ Profit and Loss doc.
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Home facts
- Year built:1954
- Listing Id #:5133689
- Added:48 day(s) ago
- Updated:August 12, 2025 at 07:18 AM
Rooms and interior
- Bedrooms:11
- Total bathrooms:11
- Full bathrooms:11
- Living area:8,380 sq. ft.
Heating and cooling
- Heating:Gas
Structure and exterior
- Roof:Slate
- Year built:1954
- Building area:8,380 sq. ft.
- Lot area:0.19 Acres
Utilities
- Water:Public
- Sewer:Public Sewer
Finances and disclosures
- Price:$550,000
- Price per sq. ft.:$65.63
- Tax amount:$8,620 (2024)
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