NOT LISTED FOR SALE

517 Putnam St Sandusky, OH 44870

2 Beds
1 Bath
-- Sq Ft
1940 Built

Sale Details

Date Sold: July 6, 2021

Last sale price $431,353

Highlights

  • Brick or Stone Mason
  • Baseboard Heating
  • 4-minute walk to Sandusky Baseball Field Playground
  • Forced Air Heating System

About This Home

As of July 2021

Portfolio of 5 buildings comprised of 16 rent-ready units located throughout central Sandusky, a city booming with development and opportunity. Ranging in size from a 6-unit building to a single-family home, the portfolio is currently operating at 100% occupancy, and generating a high rate of return. Aggressive rent optimization in 2019 against minimal maintenance needs resulted in a 2019 NOI of $78K. Very strong rental market pushing cap rate over 11%. Several properties located in federal opportunity zone, in addition to local/state grants available for updates and maintenance costs. Recent improvements including new siding on one of the buildings, and foundation reinforcement in another. Happy to answer questions, or provide more background, as needed. Additional properties/portfolios being listed in the coming days. Rent Roll and P and L attached.

Last Agent to Sell the Property

Sal Sortino

Select Group Ohio License #2017005261 Listed on: 06/08/2021

Select Group Ohio

Co-Listed By

Default zSystem

zSystem Default

Last Buyer's Agent

Sal Sortino

Select Group Ohio License #2017005261 Listed on: 06/08/2021

Select Group Ohio

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1940

Home Design

  • Brick or Stone Mason
  • Aluminum Siding
  • Vinyl Siding

Basement

  • Basement Fills Entire Space Under The House
  • Partial Basement

Utilities

  • No Cooling
  • Forced Air Heating System
  • Heating System Uses Natural Gas
  • Baseboard Heating

Community Details

  • 16 Units

Listing and Financial Details

  • Assessor Parcel Number 5901004000

Property Details

Home Type

Multi-Family

Year Built

Built in 1940

Lot Details

0 Sq Ft Lot

Listing Details

  • PropertySubType: Multi Family
  • PropertyType: Residential Income
  • MLS Status: Sold
  • Year Built: 1940
  • Tax Year: 2019
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Basement: Full, Partial
  • Basement YN: Yes

Exterior Features

  • View: No
  • Waterfront: No
  • Home Warranty: No
  • Construction Type: Aluminum Siding, Brick, Other, Vinyl Siding
  • Foundation Details: Basement

Garage/Parking

  • Attached Garage: No

Utilities

  • Cooling Y N: No
  • Heating: Electric, Natural Gas, Baseboard, Forced Air, Hot Water
  • HeatingYN: Yes
  • Electricity On Property: Yes
  • Sewer: Public Sewer
  • Utilities: Electricity Connected
  • Water Source: Public

Lot Info

  • Parcel Number: 5901004000

Multi Family

  • Number Of Units Total: 16

Tax Info

  • Tax Annual Amount: 13790
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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
07/06/2021 07/06/21 Sold $431,353 -38.4% --
06/08/2021 06/08/21 Pending -- -- --
06/08/2021 06/08/21 For Sale $700,000 -- --
Source: Firelands Association of REALTORS®

Agents Affiliated with this Home

  • S

    Seller's Agent in 2021

    Sal Sortino

    Select Group Ohio

    Section Image

  • D

    Seller Co-Listing Agent in 2021

    Default zSystem

    zSystem Default

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Map

Source: Firelands Association of REALTORS®

MLS Number: 20212290

Ohio Erie County Sandusky 44870

517 Putnam St, Sandusky, OH

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