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712 W Light St 10 Unit Apartment Building $895,687 CAD ($89,569 CAD/Unit) 7.11% Cap Rate Urbana, OH 43078
Executive Summary
Well-Maintained Multifamily Asset:
The property has been meticulously maintained, showcasing strong ownership pride and solid physical condition. Ongoing care and recent improvements have enhanced both curb appeal and long-term durability.
Strong Occupancy & Tenant Stability:
The asset benefits from high occupancy, reflecting its desirability and consistent management. A well-kept environment has contributed to tenant satisfaction and reduced turnover.
Renovated Unit Interiors:
Select units have been upgraded with modern finishes, including updated kitchens and bathrooms, new flooring, and contemporary fixtures—supporting increased rental rates and improved tenant retention.
Mark-to-Market Rental Upside:
Given current demand for quality housing in Urbana, the property offers clear potential to increase rents. A new owner can continue executing a rent growth strategy by aligning in-place rents with market levels.
Attractive, Convenient Location:
Situated in an established neighborhood, the property offers proximity to schools, parks, retail, and major transportation routes—appealing to a broad tenant base including families and young professionals.
Stable Cash-Flowing Investment:
With strong occupancy, recent upgrades, and operational consistency, the property provides reliable in-place income along with upside potential—making it an attractive opportunity for both new and experienced investors.
The property has been meticulously maintained, showcasing strong ownership pride and solid physical condition. Ongoing care and recent improvements have enhanced both curb appeal and long-term durability.
Strong Occupancy & Tenant Stability:
The asset benefits from high occupancy, reflecting its desirability and consistent management. A well-kept environment has contributed to tenant satisfaction and reduced turnover.
Renovated Unit Interiors:
Select units have been upgraded with modern finishes, including updated kitchens and bathrooms, new flooring, and contemporary fixtures—supporting increased rental rates and improved tenant retention.
Mark-to-Market Rental Upside:
Given current demand for quality housing in Urbana, the property offers clear potential to increase rents. A new owner can continue executing a rent growth strategy by aligning in-place rents with market levels.
Attractive, Convenient Location:
Situated in an established neighborhood, the property offers proximity to schools, parks, retail, and major transportation routes—appealing to a broad tenant base including families and young professionals.
Stable Cash-Flowing Investment:
With strong occupancy, recent upgrades, and operational consistency, the property provides reliable in-place income along with upside potential—making it an attractive opportunity for both new and experienced investors.
Property Facts
| Price | $895,687 CAD | Apartment Style | Low-Rise |
| Price Per Unit | $89,569 CAD | Building Class | C |
| Sale Type | Investment | Lot Size | 0.36 AC |
| Cap Rate | 7.11% | Building Size | 5,384 SF |
| No. Units | 10 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1973 |
| Property Subtype | Apartment |
| Price | $895,687 CAD |
| Price Per Unit | $89,569 CAD |
| Sale Type | Investment |
| Cap Rate | 7.11% |
| No. Units | 10 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.36 AC |
| Building Size | 5,384 SF |
| No. Stories | 2 |
| Year Built | 1973 |
Amenities
Unit Amenities
- Air Conditioning
- Heating
- Kitchen
- Refrigerator
- Oven
- Range
- Views
- Freezer
Site Amenities
- 24 Hour Access
- Picnic Area
- Recycling
- Trash Pickup - Curbside
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 10 | - | - |
1 1
Somewhat walkable
20/100
Exceptionally drivable
100/100
Somewhat bikeable
30/100
Property Taxes
| Parcel Number | K48-25-00-04-18-009-00 | Improvements Assessment | $150,311 CAD |
| Land Assessment | $21,793 CAD | Total Assessment | $172,104 CAD |
Property Taxes
Parcel Number
K48-25-00-04-18-009-00
Land Assessment
$21,793 CAD
Improvements Assessment
$150,311 CAD
Total Assessment
$172,104 CAD
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712 W Light St
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