2612-2618 Pioneer Tr, Sandusky, OH 44870 - Erie County

Outstanding Investment Opportunity: 36-Unit Building with High ROI Potential! Achieve a remarkable 16% cash-on-cash return and a projected 33% IRR with this fully occupied property. Currently offering a 7% cap rate, this investment has the potential to exceed 10% through strategic value-add improvements. The property features an equal mix of 1- and 2-bedroom units, all equipped with mounted A/C units and open-concept layouts. Upper units include private exterior balconies, adding tenant appeal. With an estimated $3-5K in CapEx per unit for kitchen upgrades, fresh paint, and flooring, market rents are projected at $715 (1-bed) and $850 (2-bed), driving a proforma income of $338,000/year. The property is comprised of two structures divided into three identical sections, each with owner-owned laundry facilities, newer shingled roofs, and well-maintained boilers. Additional amenities include large grassy areas and ample parking. The nearby Redwood development promises tenant quality growth and forced appreciation, making this a prime opportunity. Seller financing on a second lien is available for qualified buyers. Don't miss out on this exceptional investment!

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