1498 W Spring Valley Paintersville Rd, Spring Valley, OH 45370

$700,000

Remodeled Schoolhouse Apartments.​ This property consists of 16 Units with a mix of twelve [12] 1BA/1BR and four [4] studio apartments.​ This property was converted from an old schoolhouse in 1988 to residential living.​ There is a large cafeteria on-site as well as a separate building that could be converted into two additional units.​ The landlord pays for electric, heat, water, and cable for all the tenants.​ There are a total of 45 parking spaces on the property as well as on-site laundry.​ This property could easily be converted to a senior living community.​ Some of the improvements that have been done to the units include a new 50 year rubber roof, laminate hardwood flooring throughout the common area, new LED lighting, Parking Lot Sealed and Striped, Six [6] fully remodeled unit.​s, and new coin-operated washer and dryers.​ The rents are below market which could be raised as a value add opportunity along with tenants reimbursing utilities.​