36
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$399,700
Est. payment /mo
3,700 SqFt
Active
2234 Putnam ST Sandusky, OH 44870
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Key Details
Property Type Multi-Family
Sub Type Multi Family
Listing Status Active
Purchase Type For Sale
Square Footage 3,700 sqft
Price per Sqft $108
MLS Listing ID 20262032
HOA Y/N No
Year Built 1940
Annual Tax Amount $2,054
Tax Year 2026
Lot Size 2,744 Sqft
Property Sub-Type Multi Family
Property Description
Beautiful 5-unit apartment property located on the corner of E. Perkins and and Putnam just on the edge of Sandusky near Perkins Township. This well maintained investment property offers a strong rental setup with tenants paying their own electric and heat, while the owner currently pays for gas for hot water and garbage.The property features a great unit mix, including a 2-bedroom second-floor unit, a 2-bedroom first-floor unit, a 1-bedroom first-floor unit, a 1-bedroom stand-alone home, and a first-floor efficiency. This setup gives an investor multiple income streams with a variety of unit types that appeal to different rental needs.The property has been very well cared for and includes an extremely clean basement, two boilers that are approximately 2 years old, water heater that is approximately 2 years old and roof is about 10 years old with much life left. There is also a one-car garage for storage and enough off-street parking for approximately 10 cars, which is a major benefit for a multi-unit property.As it currently sits, the property offers a solid cap rate, but with a few minor adjustments, there is potential to increase the cap rate up to approximately 15.5%, making this an excellent income-producing opportunity.This property could also be an excellent owner-occupied opportunity. Live in one unit and let the rental income from the other units help pay your mortgage. Whether you are an experienced investor, a first-time investor, or someone looking to reduce your monthly housing cost, this property offers strong income potential, a convenient Sandusky location, valuable parking, updated mechanicals, and upside for future returns.
Location
State OH
County Erie
Rooms
Basement Partial
Interior
Heating Natural Gas, Forced Air, Hot Water
Laundry In Basement
Exterior
Parking Features Paved
Garage Spaces 1.0
Utilities Available Electricity Connected
View Y/N No
Building
Foundation Basement
Sewer Public Sewer
Water Public
Schools
Elementary Schools Sandusky
Middle Schools Sandusky
High Schools Sandusky
Listed by Jeffrey S Smith • Berkshire Hathaway HomeServices Pro. - Sandusky
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