Remarks

Rare Condo Package Opportunity - Echo Hills Colony Condos, Stow, OH Incredible investment opportunity to acquire 8 of 10 established condo units in the desirable Echo Hills Colony Condos, located in Stow, OH. These units are part of 5 side-by-side duplex buildings, each side deeded as an individual condo unit with its own parcel number. All HOA documents are fully set up and established, providing a smooth and organized transition for the new buyer. All buildings feature new roofs (2024) and have been extensively maintained, including recent plumbing, appliance, and system updates, ensuring minimal deferred maintenance. The package includes: 4 Three-Bedroom, 2.5-Bath Units 4 Two-Bedroom, Two-Bath Units Projected rents AS-IS are $1,440 for the 3-bedroom units and $1,175 for the 2-bedroom units, offering a proforma gross annual rent of $125,520. With projected expenses including taxes, insurance, trash, capital reserves, general maintenance, and vacancy, the anticipated net operating income is $80,972, delivering a proforma cap rate of 8.1%. Priced at just $125,000 per unit, this is an incredible value compared to area comps. The remaining **2 units are available separately with a negotiable right of first refusal, giving investors the option to control the entire complex. This is a rare chance to own a stabilized, easy-to-operate condo package with strong rental demand, solid cash flow, and long-term flexibility.

Details

MLS#: 5123112
Price: $1,000,000

Style: CommercialSale
Baths Half: 0
Sq Ft: 0
Year Built: 1987

County: Summit
Subdivision: Echo Hills Colony Condo
Tax Fee: 19897