798 Waples Avenue
The Raines Group Real Estate Services is pleased to present 89 single family and multi family homes with a total of 113 units in Marion, Ohio. The portfolio consists of 72 single family homes, 13 duplexes, 1 triplex and 1 sixplex. The homes range in size from 735 - 3104 square feet and have anywhere from 1 - 5 bedrooms. The units are at 97% occupancy with tenants who are responsible for all of their utilities and lawn maintenance. 30 of the homes are sanctioned for Section 8, providing an investor with guaranteed income through government subsidies. The entire portfolio is clustered within a 2 mile radius. The seller made significant improvements and updates to most of the homes upon acquisition. The portfolio is maintained and managed by a team of local professionals including two full time maintenance workers and one full time property manager. With its close proximity to the growing and thriving city of Columbus, Ohio, the new home of Intel’s semiconductor fabrication plants, Marion stands to benefit greatly with new tenants and higher property values. The monthly rents being 21% below the market rate presents an opportunity for the investor to increase rental income by bringing the rents up to market value gradually. The 13% year-over-year rental increase is also a positive trend that bodes well for the portfolio's future growth.
- MLS Number: 223012601
- Acres: 0.11
- New Construction: No
- School District: MARION CSD 5102 MAR CO.
