Cypress Park Apartments
Stow, Ohio
Located in Stow, Oh the property is surrounded by woods giving it a serene park like setting. Great location! Walking distance to Work and everything you need. Coming soon – Pavilions located right outside your door with Multiple grill stations, Spring – 2023. This property is conveniently located within walking distance of supermarkets, Panera Bread, Swenson’s, Kohl’s department store, Target, Drug Mart, Chase Bank and Summa Health Stow-Kent Medical Center
PROPERTY FACTS
Price $4,000,000
Price / SF $116.55 / SF
Type Value Add
Cap Ex Budget $295k
ARV $6,400,000
Projected Investor Return 8% Pref / 2% Equity / 11.5% CoC++
Number of Buildings 2
Number of Units 66
Total Building Size 34,320 SF
Purchase Date 07/23
TAXES & OPERATING EXPENSES (PRO FORMA – Yr 5) ANNUAL
Gross Rental Income $709,071
Other Income $98,065
Vacancy Loss $28,363
Effective Gross Income $778,773
Taxes $101,466
Operating Expenses $277,503
Total Expenses $378,969
Net Operating Income $499,804